Magyar Bancorp (NASDAQ:MGYR) Stock Passes Above Two Hundred Day Moving Average of $10.57

Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.57 and traded as high as $11.14. Magyar Bancorp shares last traded at $11.13, with a volume of 1,033 shares changing hands.

Magyar Bancorp Trading Down 1.2 %

The stock’s 50-day moving average price is $11.35 and its 200-day moving average price is $10.57. The company has a market cap of $73.98 million, a P/E ratio of 9.43 and a beta of 0.32.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter. The business had revenue of $7.85 million for the quarter. Magyar Bancorp had a return on equity of 7.27% and a net margin of 17.23%.

Magyar Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.20 dividend on an annualized basis and a yield of 1.80%. Magyar Bancorp’s dividend payout ratio (DPR) is currently 16.95%.

Institutional Investors Weigh In On Magyar Bancorp

Several institutional investors have recently bought and sold shares of MGYR. Alliancebernstein L.P. increased its stake in Magyar Bancorp by 18.9% in the 4th quarter. Alliancebernstein L.P. now owns 480,866 shares of the bank’s stock valued at $6,165,000 after buying an additional 76,459 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Magyar Bancorp by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 127,572 shares of the bank’s stock valued at $1,586,000 after acquiring an additional 3,319 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Magyar Bancorp by 699.6% during the third quarter. Vanguard Group Inc. now owns 102,189 shares of the bank’s stock valued at $1,270,000 after acquiring an additional 89,409 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Magyar Bancorp by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 31,890 shares of the bank’s stock worth $408,000 after acquiring an additional 848 shares during the period. Finally, Northern Trust Corp boosted its position in Magyar Bancorp by 115.5% in the fourth quarter. Northern Trust Corp now owns 22,113 shares of the bank’s stock worth $248,000 after purchasing an additional 11,851 shares during the last quarter. Institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

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.