Magyar Bancorp (NASDAQ:MGYR) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• MGYR crossed above its 200‑day moving average; the 200‑day MA is $17.42 and shares traded as high as $17.68 on light volume (1,116), a short‑term technical bullish signal.
• The bank reported $0.48 EPS for the quarter (net margin 18.32%, ROE 9.38%) and announced a $0.10 quarterly dividend (annualized $0.40, 2.3% yield; ex‑dividend May 7, payable May 21) with a 22.47% payout ratio.
• Analysts maintain a consensus Hold rating (Weiss Ratings reissued "hold"), and institutional investors own about 46.32% of the company with several funds modestly increasing positions recently.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.42 and traded as high as $17.68. Magyar Bancorp shares last traded at $17.68, with a volume of 1,116 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Magyar Bancorp in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Magyar Bancorp Price Performance

The business's 50-day moving average price is $17.48 and its two-hundred day moving average price is $17.42. The firm has a market cap of $114.57 million, a price-to-earnings ratio of 9.93 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.48 EPS for the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.38%. The firm had revenue of $10.09 million during the quarter.

Magyar Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $0.40 annualized dividend and a yield of 2.3%. Magyar Bancorp's dividend payout ratio is 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Magyar Bancorp by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank's stock worth $2,311,000 after purchasing an additional 737 shares during the last quarter. Maltese Capital Management LLC increased its position in Magyar Bancorp by 1.4% during the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank's stock worth $4,191,000 after purchasing an additional 3,453 shares during the last quarter. M3F Inc. increased its position in Magyar Bancorp by 1.3% during the first quarter. M3F Inc. now owns 283,894 shares of the bank's stock worth $4,914,000 after purchasing an additional 3,544 shares during the last quarter. Geode Capital Management LLC increased its position in Magyar Bancorp by 6.9% during the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank's stock worth $1,051,000 after purchasing an additional 4,027 shares during the last quarter. Finally, Oppenheimer & Close LLC acquired a new position in Magyar Bancorp during the third quarter worth approximately $416,000. Institutional investors and hedge funds own 46.32% of the company's stock.

About Magyar Bancorp

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp's operations focus on relationship banking, emphasizing personalized service and community engagement.

The company's product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.

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