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

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.71 and traded as high as $14.20. Magyar Bancorp shares last traded at $14.20, with a volume of 1,892 shares.

Magyar Bancorp Price Performance

The stock has a market cap of $88.75 million, a price-to-earnings ratio of 11.05 and a beta of 0.30. The business has a fifty day moving average of $13.84 and a 200 day moving average of $12.73.

Magyar Bancorp Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.04 dividend. The ex-dividend date was Friday, December 6th. Magyar Bancorp’s payout ratio is presently 16.13%.

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC acquired a new stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned about 0.17% of Magyar Bancorp as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.