Magyar Bancorp (NASDAQ:MGYR) Stock Passes Above 200-Day Moving Average – Here’s Why

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.61 and traded as high as $16.89. Magyar Bancorp shares last traded at $16.81, with a volume of 6,855 shares.

Magyar Bancorp Stock Performance

The company has a 50-day moving average price of $15.14 and a 200-day moving average price of $14.61. The firm has a market capitalization of $108.76 million, a price-to-earnings ratio of 11.67 and a beta of 0.17.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Wednesday, April 30th. The bank reported $0.43 earnings per share (EPS) for the quarter. The business had revenue of $15.78 million during the quarter. Magyar Bancorp had a return on equity of 8.08% and a net margin of 14.34%.

Magyar Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.43%. Magyar Bancorp’s dividend payout ratio is currently 16.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. PL Capital Advisors LLC boosted its position in shares of Magyar Bancorp by 1,360.0% in the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after purchasing an additional 3,461,975 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 974 shares during the period. Northern Trust Corp boosted its position 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 purchasing an additional 7,501 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Magyar Bancorp by 16.1% in the 4th 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 period. 46.32% of the stock is owned by institutional investors and hedge funds.

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.