Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Magyar Bancorp shares rose above their 200-day moving average, trading as high as $19.50 versus the $17.73 average, and last changing hands at $19.44.
• Analysts maintain a “Hold” consensus, while the company reported quarterly EPS of $0.49, $10.25 million in revenue, and an 18.89% net margin.
• Magyar Bancorp declared a quarterly dividend of $0.10, equivalent to $0.40 annually and a 2.1% yield; institutional investors own 46.32% of the stock.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.73 and traded as high as $19.50. Magyar Bancorp shares last traded at $19.44, with a volume of 2,747 shares changing hands.

Wall Street Analyst Weigh In

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

Magyar Bancorp Trading Up 1.9%

The company has a market cap of $125.58 million, a PE ratio of 10.40 and a beta of 0.24. The firm has a 50 day moving average of $17.98 and a two-hundred day moving average of $17.73.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter. Magyar Bancorp had a return on equity of 9.69% and a net margin of 18.89%.The business had revenue of $10.25 million during the quarter.

Magyar Bancorp Announces Dividend

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

Hedge Funds Weigh In On Magyar Bancorp

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Magyar Bancorp during the 2nd quarter valued at about $359,000. M3F Inc. lifted its stake in shares of Magyar Bancorp by 1.3% in the first quarter. M3F Inc. now owns 283,894 shares of the bank's stock worth $4,914,000 after buying an additional 3,544 shares in the last quarter. Maltese Capital Management LLC grew its holdings in shares of Magyar Bancorp by 1.4% during the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank's stock valued at $4,191,000 after buying an additional 3,453 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Magyar Bancorp during the fourth quarter valued at approximately $544,000. Finally, Truffle Hound Capital LLC grew its holdings in shares of Magyar Bancorp by 23.1% during the fourth 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 last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source