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

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.44 and traded as high as $14.73. Magyar Bancorp shares last traded at $14.68, with a volume of 1,876 shares changing hands.

Magyar Bancorp Price Performance

The firm has a market cap of $94.28 million, a price-to-earnings ratio of 11.11 and a beta of 0.29. The business's 50-day moving average price is $14.46 and its two-hundred day moving average price is $13.46.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last released its quarterly earnings results 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Magyar Bancorp's previous quarterly dividend of $0.05. Magyar Bancorp's dividend payout ratio (DPR) is presently 18.32%.

Institutional Trading of Magyar Bancorp

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC acquired a new stake in shares of Magyar Bancorp during the third quarter worth approximately $136,000. Renaissance Technologies LLC boosted its holdings in Magyar Bancorp by 16.1% in the fourth 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 period. Northern Trust Corp boosted its holdings in Magyar Bancorp by 37.2% in 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 period. Geode Capital Management LLC boosted its holdings in Magyar Bancorp by 6.3% in the third 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 period. Finally, Dimensional Fund Advisors LP boosted its holdings in Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank's stock worth $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.

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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.