Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.23 and traded as high as $17.48. Magyar Bancorp shares last traded at $17.48, with a volume of 809 shares trading hands.
Magyar Bancorp Trading Down 2.0%
The stock has a market capitalization of $110.46 million, a PE ratio of 10.91 and a beta of 0.22. The firm's fifty day moving average price is $16.69 and its two-hundred day moving average price is $15.25.
Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.40 earnings per share for the quarter. The firm had revenue of $8.81 million during the quarter. Magyar Bancorp had a net margin of 15.12% and a return on equity of 8.64%.
Magyar Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.08 per share. This is a positive change from Magyar Bancorp's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 1.9%. Magyar Bancorp's payout ratio is presently 20.38%.
Hedge Funds Weigh In On Magyar Bancorp
Several institutional investors have recently made changes to their positions in MGYR. Renaissance Technologies LLC increased its holdings in shares of Magyar Bancorp by 16.1% during 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. Dimensional Fund Advisors LP increased its holdings in Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank's stock worth $1,930,000 after acquiring an additional 974 shares in the last quarter. Northern Trust Corp increased its holdings in Magyar Bancorp by 37.2% in 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 increased its holdings in Magyar Bancorp by 6.9% in the 2nd 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 in the last quarter. Finally, Truffle Hound Capital LLC purchased a new stake in Magyar Bancorp in the 2nd quarter worth $1,554,000. 46.32% of the stock is owned by hedge funds and other institutional investors.
Magyar Bancorp Company Profile
(
Get Free Report)
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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