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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.82 and traded as high as $13.97. Magyar Bancorp shares last traded at $13.81, with a volume of 508 shares traded.

Magyar Bancorp Stock Up 0.8 %

The company has a market capitalization of $89.46 million, a PE ratio of 10.54 and a beta of 0.08. The company’s 50 day moving average is $14.22 and its two-hundred day moving average is $13.82.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.74%. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 6th. Magyar Bancorp’s payout ratio is presently 18.32%.

Institutional Investors Weigh In On Magyar Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of MGYR. Renaissance Technologies LLC grew its holdings in shares of Magyar Bancorp by 16.1% in the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after purchasing an additional 2,300 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after acquiring an additional 7,501 shares during the period. Geode Capital Management LLC raised its holdings in Magyar Bancorp by 6.3% in the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after purchasing an additional 3,437 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after acquiring an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC increased 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 valued at $54,261,000 after buying an additional 3,461,975 shares in the last quarter. 46.32% of the stock is currently 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.