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

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.63 and traded as high as $14.15. Magyar Bancorp shares last traded at $14.37, with a volume of 279 shares.

Magyar Bancorp Price Performance

The company has a 50 day simple moving average of $14.47 and a 200-day simple moving average of $13.64. The stock has a market cap of $90.53 million, a price-to-earnings ratio of 10.66 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.33 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.72%. Magyar Bancorp’s dividend payout ratio is 18.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGYR. PL Capital Advisors LLC boosted its holdings in shares of Magyar Bancorp by 1,360.0% during the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after acquiring an additional 3,461,975 shares during the period. Northern Trust Corp boosted its stake in Magyar Bancorp by 37.2% during 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. Geode Capital Management LLC grew its position in Magyar Bancorp by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after purchasing an additional 3,437 shares during the last quarter. Renaissance Technologies LLC grew its position in Magyar Bancorp by 16.1% in 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. Finally, Dimensional Fund Advisors LP increased its stake in shares of Magyar Bancorp by 0.7% in the fourth 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. Institutional investors and hedge funds 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.