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 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.53 and traded as high as $14.68. Magyar Bancorp shares last traded at $14.26, with a volume of 2,957 shares traded.

Magyar Bancorp Price Performance

The firm has a market cap of $92.37 million, a P/E ratio of 10.88 and a beta of 0.29. The stock’s 50 day moving average is $14.44 and its two-hundred day moving average is $13.53.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.33 earnings per share 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, February 6th. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.68%. Magyar Bancorp’s dividend payout ratio (DPR) is presently 18.32%.

Institutional Investors Weigh In On Magyar Bancorp

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in Magyar Bancorp by 16.1% during 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 last quarter. Northern Trust Corp increased its holdings in shares of 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 buying an additional 7,501 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Magyar Bancorp by 6.3% in the third 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. Dimensional Fund Advisors LP boosted its holdings 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 worth $1,930,000 after acquiring an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC grew 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 worth $54,261,000 after acquiring an additional 3,461,975 shares during the last quarter. 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.