Magyar Bancorp (NASDAQ:MGYR) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Magyar Bancorp shares rose above their 200-day moving average of $17.67, reaching as high as $20.00 before last trading at $19.12.
• Analysts maintain a consensus “Hold” rating. The bank reported quarterly EPS of $0.49 on $10.24 million in revenue, with an 18.89% net margin and 9.69% return on equity.
• Magyar Bancorp declared a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 2.1% yield; institutional investors own 46.32% of the company.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.67 and traded as high as $20.00. Magyar Bancorp shares last traded at $19.12, with a volume of 893 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Magyar Bancorp in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Magyar Bancorp Stock Performance

The firm has a market capitalization of $123.52 million, a price-to-earnings ratio of 10.22 and a beta of 0.24. The firm's 50-day moving average price is $17.75 and its two-hundred day moving average price is $17.67.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $10.24 million during the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.69%.

Magyar Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.40 dividend on an annualized basis and a yield of 2.1%. Magyar Bancorp's dividend payout ratio is 21.39%.

Institutional Investors Weigh In On Magyar Bancorp

A number of hedge funds have recently added to or reduced their stakes in MGYR. Charles Schwab Investment Management Inc. acquired a new stake in shares of Magyar Bancorp during the 4th quarter worth approximately $544,000. Truffle Hound Capital LLC grew its holdings in Magyar Bancorp by 23.1% during the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank's stock worth $3,456,000 after acquiring an additional 37,514 shares during the period. Dimensional Fund Advisors LP raised its position 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank's stock valued at $1,051,000 after purchasing an additional 4,027 shares during the period. Finally, M3F Inc. lifted its stake in shares of Magyar Bancorp by 1.3% in the 1st quarter. M3F Inc. now owns 283,894 shares of the bank's stock valued at $4,914,000 after purchasing an additional 3,544 shares during the period. Institutional investors 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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