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

Key Points

• Magyar Bancorp's stock price has crossed above its 200-day moving average of $15.53, reaching a high of $17.50 during trading.
• The recent quarterly earnings report showed a 0.40 EPS and revenue of $8.81 million, indicating a net margin of 15.12% and a return on equity of 8.64%.
• The company increased its quarterly dividend to $0.08, up from $0.06, resulting in a 1.8% dividend yield and a payout ratio of 20.38%.

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.53 and traded as high as $17.50. Magyar Bancorp shares last traded at $17.30, with a volume of 1,552 shares trading hands.

Magyar Bancorp Stock Performance

The firm's 50-day moving average price is $17.05 and its two-hundred day moving average price is $15.60. The firm has a market capitalization of $111.34 million, a price-to-earnings ratio of 10.99 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.40 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.12% and a return on equity of 8.64%. The business had revenue of $8.81 million for the quarter.

Magyar Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.32 annualized dividend and a yield of 1.9%. This is an increase from Magyar Bancorp's previous quarterly dividend of $0.06. Magyar Bancorp's payout ratio is 20.38%.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted 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 valued at $404,000 after purchasing an additional 7,501 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 last quarter. Truffle Hound Capital LLC bought a new position in Magyar Bancorp during the 2nd quarter valued at about $1,554,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Magyar Bancorp by 0.7% during 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. 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.