Magyar Bancorp (NASDAQ:MGYR) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Price breached technical level: Magyar Bancorp shares dipped below their 200‑day moving average (200‑day = $17.37), trading as low as $17.35 while last quoted around $17.87 on light volume.
• Dividend increase: The bank raised its quarterly dividend to $0.10 from $0.08 (annualized $0.40), implying a ~2.2% yield and a 23.12% payout ratio, with the ex‑dividend date on Feb 12.
• Fundamentals and consensus: Market cap is about $115.8M with a P/E of 10.33; the firm reported $0.50 EPS on $9.66M revenue last quarter and carries a MarketBeat consensus rating of "Hold."

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.37 and traded as low as $17.35. Magyar Bancorp shares last traded at $17.8740, with a volume of 10,746 shares changing hands.

Analyst Upgrades and Downgrades

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

Magyar Bancorp Trading Up 1.4%

The company has a market capitalization of $115.82 million, a price-to-earnings ratio of 10.33 and a beta of 0.23. The firm has a 50-day moving average price of $17.65 and a 200-day moving average price of $17.37.

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 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 disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were issued a dividend of $0.10 per share. This is a positive change from Magyar Bancorp's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, February 12th. Magyar Bancorp's dividend payout ratio is 23.12%.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Close LLC bought a new position in shares of Magyar Bancorp in the third quarter worth about $416,000. Charles Schwab Investment Management Inc. bought a new position in shares of Magyar Bancorp in the fourth quarter worth about $544,000. Geode Capital Management LLC increased its stake in shares of Magyar Bancorp by 6.9% in the second 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 during the period. Dimensional Fund Advisors LP increased its stake in shares of Magyar Bancorp by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank's stock worth $2,311,000 after purchasing an additional 737 shares during the period. Finally, 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 worth $2,806,000 after purchasing an additional 69,245 shares during the period. 46.32% of the stock is currently owned by institutional investors.

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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