Magyar Bancorp (NASDAQ:MGYR) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Magyar Bancorp shares rose above their 200-day moving average of $17.87, reaching $19.67 before closing at $19.36. The company has a market capitalization of approximately $125.1 million.
• The bank reported quarterly EPS of $0.49 on $10.25 million in revenue, with a 9.59% return on equity and an 18.89% net margin. Analysts and Weiss Ratings maintain a “Hold” view.
• Magyar Bancorp paid a quarterly dividend of $0.10 per share, equivalent to an annualized $0.40 dividend and a 2.1% yield. Institutional investors own approximately 46.32% of the stock.

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.87 and traded as high as $19.67. Magyar Bancorp shares last traded at $19.36, with a volume of 5,485 shares traded.

Wall Street Analysts Forecast Growth

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

Magyar Bancorp Price Performance

The company has a market capitalization of $125.07 million, a price-to-earnings ratio of 10.35 and a beta of 0.24. The stock has a 50 day simple moving average of $18.49 and a two-hundred day simple moving average of $17.87.

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

Magyar Bancorp Announces Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, August 6th. This represents a $0.40 annualized dividend and a yield of 2.1%. Magyar Bancorp's payout ratio is presently 21.39%.

Hedge Funds Weigh In On Magyar Bancorp

Several hedge funds have recently added to or reduced their stakes in MGYR. Corient Private Wealth LP acquired a new stake in Magyar Bancorp during the second quarter worth approximately $698,000. BlackRock Inc. acquired a new position in shares of Magyar Bancorp in the 2nd quarter valued at $359,000. M3F Inc. boosted its holdings in shares of Magyar Bancorp by 1.3% in the 1st quarter. M3F Inc. now owns 283,894 shares of the bank's stock valued at $4,914,000 after buying an additional 3,544 shares in the last quarter. Maltese Capital Management LLC grew its position in shares of Magyar Bancorp by 1.4% in the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank's stock valued at $4,191,000 after buying an additional 3,453 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Magyar Bancorp in the 4th quarter valued at $544,000. 46.32% of the stock is currently owned by hedge funds and other 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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