Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.71 and traded as high as $14.20. Magyar Bancorp shares last traded at $14.20, with a volume of 1,892 shares.

Magyar Bancorp Price Performance

The stock’s 50 day simple moving average is $13.84 and its two-hundred day simple moving average is $12.73. The stock has a market cap of $88.75 million, a P/E ratio of 11.05 and a beta of 0.30.

Magyar Bancorp Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, December 6th. Magyar Bancorp’s payout ratio is presently 16.13%.

Institutional Trading of Magyar Bancorp

An institutional investor recently raised its position in Magyar Bancorp stock. Geode Capital Management LLC boosted its position in Magyar Bancorp, Inc. (NASDAQ:MGYR) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,876 shares of the bank’s stock after buying an additional 3,437 shares during the quarter. Geode Capital Management LLC owned approximately 0.89% of Magyar Bancorp worth $713,000 as of its most recent filing with the SEC. 46.32% of the stock is currently 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.