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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.63 and traded as high as $14.15. Magyar Bancorp shares last traded at $14.37, with a volume of 279 shares.

Magyar Bancorp Stock Performance

The firm has a fifty day simple moving average of $14.47 and a 200 day simple moving average of $13.64. The company has a market cap of $90.53 million, a PE ratio of 10.66 and a beta of 0.29.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 EPS 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 announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, February 6th. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio is 18.32%.

Hedge Funds Weigh In On Magyar Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in Magyar Bancorp by 16.1% in the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after purchasing an additional 2,300 shares in the last quarter. Northern Trust Corp lifted its position in Magyar Bancorp by 37.2% during 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 in the last quarter. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 3,437 shares during the period. Dimensional Fund Advisors LP grew its position in Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after acquiring an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC raised its stake in shares of Magyar Bancorp by 1,360.0% during the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after purchasing an additional 3,461,975 shares during the period. Institutional investors and hedge funds own 46.32% of the company’s stock.

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.