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

Key Points

• Magyar Bancorp shares rose above their 200-day moving average, trading as high as $19.60 versus the $17.80 average, though volume was light at 957 shares.
• The bank reported quarterly EPS of $0.49 on $10.25 million in revenue, with an 18.89% net margin and 9.59% return on equity. It also paid a quarterly dividend of $0.10 per share, implying a 2.0% yield.
• Analyst sentiment remains neutral: Weiss Ratings maintained a “hold (c)” rating, and the stock’s sole analyst rating is Hold. Institutional investors own approximately 46.32% of outstanding shares.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.80 and traded as high as $19.60. Magyar Bancorp shares last traded at $19.60, with a volume of 957 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Magyar Bancorp in a report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

Magyar Bancorp Price Performance

The firm has a market capitalization of $126.62 million, a PE ratio of 10.48 and a beta of 0.24. The stock's 50-day moving average price is $18.27 and its 200 day moving average price is $17.80.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.49 EPS for the quarter. The business had revenue of $10.25 million during the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.59%.

Magyar Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, August 6th. Magyar Bancorp's payout ratio is 21.39%.

Institutional Investors Weigh In On Magyar Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of MGYR. Corient Private Wealth LP purchased a new position in Magyar Bancorp in the second quarter worth $698,000. Truffle Hound Capital LLC lifted its holdings in shares of Magyar Bancorp by 23.1% during the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank's stock valued at $3,456,000 after purchasing an additional 37,514 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Magyar Bancorp during the 4th quarter valued at $544,000. BlackRock Inc. purchased a new stake in shares of Magyar Bancorp during the 2nd quarter valued at $359,000. Finally, Geode Capital Management LLC boosted its position 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 worth $1,051,000 after purchasing an additional 4,027 shares in the last quarter. Hedge funds and other 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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