Magyar Bancorp (NASDAQ:MGYR) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares passed 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 Stock Performance

The stock’s 50-day simple moving average is $14.44 and its two-hundred day simple moving average is $13.53. The stock has a market cap of $92.37 million, a price-to-earnings ratio of 10.88 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last posted 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, February 6th. Magyar Bancorp’s dividend payout ratio is currently 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

Several large investors have recently bought and sold shares of the stock. 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. PL Capital Advisors LLC raised its holdings in Magyar Bancorp by 1,360.0% in the 4th 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 in the last quarter. Northern Trust Corp lifted its position 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 worth $404,000 after acquiring an additional 7,501 shares during the period. Dimensional Fund Advisors LP lifted its position 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 during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 2,300 shares in 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.