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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.86 and traded as high as $17.32. Magyar Bancorp shares last traded at $17.32, with a volume of 1,035 shares trading hands.

Magyar Bancorp Price Performance

The stock has a market capitalization of $111.71 million, a P/E ratio of 11.03 and a beta of 0.24. The firm has a 50-day simple moving average of $17.16 and a 200 day simple moving average of $15.86.

Magyar Bancorp (NASDAQ:MGYR) last posted its earnings results on Thursday, July 24th. The bank reported $0.40 EPS for the quarter. The firm had revenue of $8.81 million during the quarter. Magyar Bancorp had a return on equity of 8.64% and a net margin of 15.12%.

Magyar Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a $0.08 dividend. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, August 7th. Magyar Bancorp’s dividend payout ratio is 20.38%.

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. Truffle Hound Capital LLC bought a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 93,241 shares of the bank’s stock, valued at approximately $1,554,000. Truffle Hound Capital LLC owned about 1.44% of Magyar Bancorp at the end of the most recent quarter. Hedge funds and other 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.