Magyar Bancorp (NASDAQ:MGYR) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.31 and traded as high as $16.00. Magyar Bancorp shares last traded at $15.90, with a volume of 34,766 shares.

Magyar Bancorp Stock Up 1.3%

The stock has a market cap of $102.89 million, a price-to-earnings ratio of 12.14 and a beta of 0.10. The company’s 50-day moving average is $14.35 and its 200-day moving average is $14.31.

Magyar Bancorp (NASDAQ:MGYR) last posted its earnings results on Wednesday, April 30th. The bank reported $0.43 EPS for the quarter. The business had revenue of $15.78 million during the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%.

Magyar Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.51%. Magyar Bancorp’s dividend payout ratio is 16.67%.

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors have recently bought and sold shares of MGYR. Renaissance Technologies LLC lifted its holdings in Magyar Bancorp by 16.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after buying an additional 2,300 shares in the last quarter. Northern Trust Corp boosted its stake in Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after purchasing an additional 7,501 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Magyar Bancorp by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock worth $1,930,000 after acquiring an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC grew its holdings in shares of Magyar Bancorp by 1,360.0% in the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after acquiring an additional 3,461,975 shares in the last quarter. Institutional investors own 46.32% of the company’s stock.

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.