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

Key Points

• Magyar Bancorp's shares have recently crossed above their 200-day moving average, indicating a potential upward trend in stock performance; it last traded at $17.01.
• The bank reported a net margin of 15.12% and earnings of $0.40 per share for the last quarter, alongside a revenue of $8.81 million.
• Magyar Bancorp has increased its quarterly dividend from $0.06 to $0.08 per share, reflecting a 1.9% yield and a payout ratio of 20.38%.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.65 and traded as high as $17.12. Magyar Bancorp shares last traded at $17.01, with a volume of 929 shares traded.

Magyar Bancorp Stock Down 0.2%

The stock has a market cap of $109.68 million, a P/E ratio of 10.83 and a beta of 0.23. The stock has a fifty day simple moving average of $17.06 and a 200-day simple moving average of $15.65.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.40 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.12% and a return on equity of 8.64%. The business had revenue of $8.81 million for the quarter.

Magyar Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 7th. This is a boost from Magyar Bancorp's previous quarterly dividend of $0.06. Magyar Bancorp's dividend payout ratio (DPR) is 20.38%.

Institutional Investors Weigh In On Magyar Bancorp

Large investors have recently modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank's stock valued at $404,000 after purchasing an additional 7,501 shares in the last quarter. Geode Capital Management LLC raised its holdings in Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank's stock worth $1,051,000 after buying an additional 4,027 shares during the period. Finally, Truffle Hound Capital LLC acquired a new stake in Magyar Bancorp during the 2nd quarter worth approximately $1,554,000. 46.32% of the stock is currently owned by 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.

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