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

Key Points

• Magyar Bancorp shares slipped below their 200-day moving average, trading as low as $17.48 versus a 200-day average of $17.58. Volume was light at 866 shares.
• The stock remains rated “Hold”, with Weiss Ratings reaffirming a hold (c) view and MarketBeat data showing a consensus hold rating from analysts.
• The company reported solid quarterly results and a dividend, posting EPS of $0.49 and revenue of $10.24 million, while also declaring a $0.10 quarterly dividend payable on August 20 for a 2.3% annualized yield.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.58 and traded as low as $17.48. Magyar Bancorp shares last traded at $17.48, with a volume of 866 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Magyar Bancorp in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold".

Magyar Bancorp Price Performance

The stock has a market cap of $112.92 million, a P/E ratio of 9.82 and a beta of 0.22. The company has a fifty day moving average of $17.47 and a 200 day moving average of $17.58.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 18.32%.The company had revenue of $10.24 million for the quarter.

Magyar Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, August 6th. Magyar Bancorp's dividend payout ratio (DPR) is presently 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. M3F Inc. increased its stake in Magyar Bancorp by 1.3% in the 1st quarter. M3F Inc. now owns 283,894 shares of the bank's stock worth $4,914,000 after purchasing an additional 3,544 shares in the last quarter. Maltese Capital Management LLC increased its holdings in shares of Magyar Bancorp by 1.4% in the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank's stock valued at $4,191,000 after purchasing an additional 3,453 shares during the period. Truffle Hound Capital LLC increased its stake in Magyar Bancorp by 23.1% in the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank's stock valued at $3,456,000 after buying an additional 37,514 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank's stock valued at $2,311,000 after acquiring an additional 737 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Magyar Bancorp by 6.9% in the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank's stock worth $1,051,000 after acquiring an additional 4,027 shares during the last quarter. Institutional investors and hedge funds own 46.32% of the company's stock.

Magyar Bancorp Company Profile

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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