Magyar Bancorp (NASDAQ:MGYR) Shares Pass Above 200-Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.44 and traded as high as $14.73. Magyar Bancorp shares last traded at $14.68, with a volume of 1,876 shares traded.

Magyar Bancorp Price Performance

The firm has a market capitalization of $95.13 million, a price-to-earnings ratio of 11.21 and a beta of 0.30. The firm has a 50 day moving average price of $14.46 and a 200-day moving average price of $13.44.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%.

Magyar Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.63%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s payout ratio is currently 18.32%.

Institutional Investors Weigh In On Magyar Bancorp

Large investors have recently modified their holdings of the company. Private Advisor Group LLC acquired a new position in shares of Magyar Bancorp during the third quarter worth $136,000. 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 during the last quarter. Northern Trust Corp boosted its position in shares of Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after acquiring an additional 7,501 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Magyar Bancorp by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after acquiring an additional 3,437 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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. 46.32% of the stock is owned by hedge funds and other institutional investors.

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.