Magyar Bancorp (NASDAQ:MGYR) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.53 and traded as high as $16.83. Magyar Bancorp shares last traded at $17.19, with a volume of 691 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Magyar Bancorp currently has a consensus rating of “Hold”.

Magyar Bancorp Stock Performance

The firm has a market cap of $110.88 million, a P/E ratio of 11.02 and a beta of 0.25. The company has a 50 day moving average of $17.10 and a 200 day moving average of $16.53.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.40 EPS for the quarter. The firm had revenue of $9.25 million for the quarter. Magyar Bancorp had a return on equity of 8.56% and a net margin of 15.00%.

Magyar Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. Magyar Bancorp’s dividend payout ratio (DPR) is currently 20.51%.

Institutional Investors Weigh In On Magyar Bancorp

A number of large investors have recently bought and sold shares of MGYR. Oppenheimer & Close LLC acquired a new position in Magyar Bancorp during the third quarter worth $416,000. Geode Capital Management LLC boosted its stake in shares of Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after acquiring an additional 4,027 shares in the last quarter. Finally, Truffle Hound Capital LLC bought a new position in shares of Magyar Bancorp in the 2nd quarter valued at approximately $1,554,000. 46.32% of the stock is currently owned by institutional investors.

About Magyar Bancorp

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.