Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above 200 Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.57 and traded as high as $17.92. Magyar Bancorp shares last traded at $17.60, with a volume of 1,854 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Magyar Bancorp has a consensus rating of “Hold”.

Magyar Bancorp Stock Performance

The firm has a market capitalization of $113.89 million, a P/E ratio of 9.90 and a beta of 0.22. The stock’s 50 day simple moving average is $17.47 and its 200 day simple moving average is $17.57.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.48 earnings per share for the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.28%. The firm had revenue of $10.09 million during the quarter.

Magyar Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, May 7th. Magyar Bancorp’s dividend payout ratio is currently 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after purchasing an additional 737 shares during the period. Maltese Capital Management LLC lifted its position in shares of Magyar Bancorp by 1.4% in the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after purchasing an additional 3,453 shares during the period. M3F Inc. boosted its stake in shares of Magyar Bancorp by 1.3% during 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. Geode Capital Management LLC increased its holdings in Magyar Bancorp by 6.9% during the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after buying an additional 4,027 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new position in Magyar Bancorp in the fourth quarter worth approximately $544,000. Hedge funds and other institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

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.