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

Key Points

• Technical sell signal: Magyar Bancorp's shares slipped below their 200-day moving average of $17.33, trading as low as $16.51 and last at $16.67.
• Solid fundamentals and bigger payout: The bank reported $0.50 EPS on $9.66M revenue, has a market cap of ~$108M and a P/E of 9.64, and raised its quarterly dividend to $0.10 (annualized $0.40) for a ~2.4% yield.
• Market view and ownership: Weiss Ratings reaffirmed a "Hold" and the consensus rating is Hold, while institutional investors own about 46% of the stock with several funds recently adding to positions.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.33 and traded as low as $16.51. Magyar Bancorp shares last traded at $16.67, with a volume of 2,891 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Magyar Bancorp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Magyar Bancorp Trading Up 3.5%

The firm has a market capitalization of $108.02 million, a price-to-earnings ratio of 9.64 and a beta of 0.24. The business has a 50-day moving average price of $17.71 and a two-hundred day moving average price of $17.33.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last released its quarterly earnings data on Friday, February 13th. The bank reported $0.50 earnings per share (EPS) for the quarter. The business had revenue of $9.66 million during the quarter. Magyar Bancorp had a return on equity of 9.18% and a net margin of 16.25%.

Magyar Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. This is a positive change from Magyar Bancorp's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, February 12th. Magyar Bancorp's dividend payout ratio is presently 23.12%.

Institutional Trading of Magyar Bancorp

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank's stock valued at $1,051,000 after purchasing an additional 4,027 shares during the period. Truffle Hound Capital LLC increased its stake in shares of Magyar Bancorp by 74.3% in the third quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank's stock valued at $2,806,000 after purchasing an additional 69,245 shares during the period. Oppenheimer & Close LLC acquired a new stake in shares of Magyar Bancorp in the third quarter valued at approximately $416,000. Dimensional Fund Advisors LP raised its holdings in shares of Magyar Bancorp by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank's stock valued at $2,311,000 after buying an additional 737 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Magyar Bancorp during the fourth quarter valued at approximately $544,000. Institutional investors and hedge funds own 46.32% of the company's stock.

Magyar Bancorp Company Profile

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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