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

Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.63 and traded as high as $14.15. Magyar Bancorp shares last traded at $14.37, with a volume of 279 shares changing hands.

Magyar Bancorp Stock Down 0.2 %

The stock has a market capitalization of $93.12 million, a P/E ratio of 10.97 and a beta of 0.29. The firm’s 50-day simple moving average is $14.48 and its 200 day simple moving average is $13.63.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share 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 announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.06 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.67%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s payout ratio is 18.32%.

Institutional Investors Weigh In On Magyar Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Magyar Bancorp by 16.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after purchasing an additional 2,300 shares during the last quarter. Northern Trust Corp boosted its holdings 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 buying an additional 7,501 shares during the period. Geode Capital Management LLC grew its stake in 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 buying an additional 3,437 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Magyar Bancorp by 0.7% in 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 during the period. Finally, PL Capital Advisors LLC lifted its position in Magyar Bancorp by 1,360.0% during the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock worth $54,261,000 after acquiring an additional 3,461,975 shares during the last quarter. Institutional investors and hedge funds 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.