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 $15.98, trading at $17.15 with a volume of 2,117 shares.
• The company reported a quarterly earnings per share (EPS) of $0.40 and announced an increased dividend of $0.08, up from $0.06.
• Truffle Hound Capital LLC recently acquired a new position in Magyar Bancorp, purchasing approximately 93,241 shares valued at around $1.55 million.

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.98 and traded as high as $17.15. Magyar Bancorp shares last traded at $17.15, with a volume of 2,117 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Magyar Bancorp in a research note on Wednesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Magyar Bancorp Stock Up 0.0%

The business's fifty day moving average is $17.21 and its two-hundred day moving average is $15.98. The firm has a market cap of $110.62 million, a price-to-earnings ratio of 10.92 and a beta of 0.24.

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

Magyar Bancorp Increases Dividend

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magyar Bancorp stock. Truffle Hound Capital LLC purchased a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 93,241 shares of the bank's stock, valued at approximately $1,554,000. Truffle Hound Capital LLC owned 1.44% of Magyar Bancorp at the end of the most recent reporting period. 46.32% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.