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

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.60 and traded as high as $12.32. Magyar Bancorp shares last traded at $12.27, with a volume of 5,768 shares.

Magyar Bancorp Stock Performance

The firm has a market cap of $80.78 million, a price-to-earnings ratio of 10.27 and a beta of 0.27. The business has a 50 day simple moving average of $12.31 and a 200-day simple moving average of $11.60.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last released its earnings results on Thursday, July 25th. The bank reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $7.19 million during the quarter. Magyar Bancorp had a return on equity of 6.94% and a net margin of 15.19%.

Magyar Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, August 8th. Magyar Bancorp's dividend payout ratio is presently 16.67%.

Institutional Investors Weigh In On Magyar Bancorp

An institutional investor recently bought a new position in Magyar Bancorp stock. BHZ Capital Management LP bought a new stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,366 shares of the bank's stock, valued at approximately $318,000. BHZ Capital Management LP owned 0.43% of Magyar Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC). 46.32% of the stock is owned by hedge funds and other institutional investors.

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.