Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.71 and traded as high as $14.20. Magyar Bancorp shares last traded at $14.20, with a volume of 1,892 shares traded.

Magyar Bancorp Stock Performance

The company has a market capitalization of $88.75 million, a price-to-earnings ratio of 11.05 and a beta of 0.30. The company has a 50-day moving average price of $13.84 and a 200-day moving average price of $12.73.

Magyar Bancorp Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.04 dividend. The ex-dividend date was Friday, December 6th. Magyar Bancorp’s payout ratio is presently 16.13%.

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC acquired a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned 0.17% of Magyar Bancorp at the end of the most recent quarter. 46.32% of the stock is currently 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.