Magyar Bancorp (NASDAQ:MGYR) Shares Pass Above 200 Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.67 and traded as high as $20.00. Magyar Bancorp shares last traded at $19.12, with a volume of 893 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Magyar Bancorp Stock Up 0.3%

The company’s fifty day simple moving average is $17.75 and its two-hundred day simple moving average is $17.67. The company has a market capitalization of $123.52 million, a price-to-earnings ratio of 10.22 and a beta of 0.24.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.69%. The company had revenue of $10.24 million during the quarter.

Magyar Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.1%. Magyar Bancorp’s dividend payout ratio (DPR) is currently 21.39%.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. acquired a new position in shares of Magyar Bancorp in the fourth quarter valued at approximately $544,000. Truffle Hound Capital LLC increased its holdings in Magyar Bancorp by 23.1% during the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after purchasing an additional 37,514 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after purchasing an additional 737 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 4,027 shares during the period. Finally, M3F Inc. lifted its holdings in shares of Magyar Bancorp by 1.3% in the first quarter. M3F Inc. now owns 283,894 shares of the bank’s stock valued at $4,914,000 after purchasing an additional 3,544 shares in the last quarter. 46.32% of the stock is currently owned by institutional investors and hedge funds.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.