Magyar Bancorp (NASDAQ:MGYR) Stock Passes Above 200-Day Moving Average - Here's What Happened

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.61 and traded as high as $16.89. Magyar Bancorp shares last traded at $16.81, with a volume of 6,855 shares.

Magyar Bancorp Trading Down 0.8%

The company has a fifty day simple moving average of $15.14 and a two-hundred day simple moving average of $14.61. The company has a market cap of $108.76 million, a PE ratio of 11.67 and a beta of 0.17.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The bank reported $0.43 earnings per share for the quarter. Magyar Bancorp had a return on equity of 8.08% and a net margin of 14.34%. The company had revenue of $15.78 million for the quarter.

Magyar Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.43%. Magyar Bancorp's dividend payout ratio (DPR) is 16.67%.

Institutional Investors Weigh In On Magyar Bancorp

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in Magyar Bancorp by 16.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank's stock worth $242,000 after purchasing an additional 2,300 shares during the period. Northern Trust Corp increased its holdings in Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank's stock worth $404,000 after purchasing an additional 7,501 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.7% during 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. Finally, PL Capital Advisors LLC boosted its position in shares of Magyar Bancorp by 1,360.0% during the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank's stock worth $54,261,000 after acquiring an additional 3,461,975 shares in the last quarter. Hedge funds and other institutional investors own 46.32% of the company's stock.

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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