Magyar Bancorp (NASDAQ:MGYR) Stock Price Passes Above 200-Day Moving Average of $10.70

Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.70 and traded as high as $10.99. Magyar Bancorp shares last traded at $10.95, with a volume of 2,844 shares.

Magyar Bancorp Stock Down 0.4 %

The stock has a market capitalization of $72.82 million, a P/E ratio of 9.28 and a beta of 0.32. The firm has a fifty day moving average price of $11.20 and a two-hundred day moving average price of $10.70.

Magyar Bancorp (NASDAQ:MGYR) last issued its earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $7.85 million for the quarter. Magyar Bancorp had a net margin of 17.23% and a return on equity of 7.27%.

Magyar Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.20 annualized dividend and a yield of 1.83%. Magyar Bancorp’s dividend payout ratio is 16.95%.

Institutional Investors Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. BHZ Capital Management LP purchased a new position in Magyar Bancorp, Inc. (NASDAQ:MGYR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,366 shares of the bank’s stock, valued at approximately $318,000. BHZ Capital Management LP owned 0.43% of Magyar Bancorp as of its most recent SEC filing. Institutional investors and hedge funds own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

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.