Magyar Bancorp (NASDAQ:MGYR) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 Stock Performance

The firm's 50 day simple moving average is $14.30 and its 200 day simple moving average is $13.80. The firm has a market capitalization of $88.78 million, a price-to-earnings ratio of 10.46 and a beta of 0.08.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.33 earnings per share 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.06 dividend. This is an increase from Magyar Bancorp's previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.75%. Magyar Bancorp's dividend payout ratio is presently 18.32%.

Institutional Investors Weigh In On Magyar Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of MGYR. Geode Capital Management LLC raised its position in 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 purchasing an additional 3,437 shares during the period. PL Capital Advisors LLC raised its stake in Magyar Bancorp by 1,360.0% in the fourth 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 in the last quarter. 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 worth $242,000 after buying an additional 2,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.7% during 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, Northern Trust Corp increased its holdings in shares of Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank's stock valued at $404,000 after acquiring an additional 7,501 shares during the last quarter. 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.