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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.75 and traded as high as $13.80. Magyar Bancorp shares last traded at $13.72, with a volume of 991 shares traded.

Magyar Bancorp Trading Down 0.6 %

The stock has a 50-day moving average price of $14.38 and a 200 day moving average price of $13.75. The stock has a market capitalization of $88.91 million, a price-to-earnings ratio of 10.47 and a beta of 0.08.

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

Magyar Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.75%. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, February 6th. Magyar Bancorp’s payout ratio is presently 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in 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 last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 purchasing an additional 2,300 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Magyar Bancorp by 6.3% during 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. Northern Trust Corp increased its position in Magyar Bancorp by 37.2% during the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after purchasing an additional 7,501 shares during the last quarter. Finally, PL Capital Advisors LLC grew its stake 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 buying an additional 3,461,975 shares during the period. Hedge funds and other institutional investors 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.