Magyar Bancorp (NASDAQ:MGYR) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.89 and traded as high as $14.66. Magyar Bancorp shares last traded at $14.24, with a volume of 1,764 shares trading hands.

Magyar Bancorp Stock Down 3.3 %

The stock has a fifty day moving average price of $14.12 and a 200-day moving average price of $12.91. The firm has a market cap of $93.16 million, a price-to-earnings ratio of 11.44 and a beta of 0.30.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.41 EPS for the quarter. The company had revenue of $14.74 million during the quarter. Magyar Bancorp had a net margin of 14.91% and a return on equity of 7.18%.

Magyar Bancorp Cuts Dividend

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

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently raised its stake in Magyar Bancorp stock. Geode Capital Management LLC increased its stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,876 shares of the bank’s stock after buying an additional 3,437 shares during the period. Geode Capital Management LLC owned about 0.89% of Magyar Bancorp worth $713,000 as of its most recent filing with the Securities and Exchange Commission. 46.32% of the stock is currently owned by institutional investors.

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.