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

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 trading hands.

Magyar Bancorp Stock Up 1.0%

The business has a 50 day moving average of $15.26 and a 200 day moving average of $14.64. The company has a market capitalization of $108.31 million, a P/E ratio of 11.63 and a beta of 0.16.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The bank reported $0.43 EPS 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 during the quarter.

Magyar Bancorp Announces Dividend

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

Institutional Investors Weigh In On Magyar Bancorp

Institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in shares of Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank's stock valued at $404,000 after purchasing an additional 7,501 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank's stock valued at $1,930,000 after purchasing an additional 974 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Magyar Bancorp by 16.1% in 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 during the last quarter. 46.32% of the stock is owned by institutional investors.

About Magyar Bancorp

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.