Magyar Bancorp (NASDAQ:MGYR) Shares Cross Above 200 Day Moving Average of $11.54

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.54 and traded as high as $12.34. Magyar Bancorp shares last traded at $12.32, with a volume of 1,627 shares traded.

Magyar Bancorp Price Performance

The business’s 50 day simple moving average is $12.32 and its 200 day simple moving average is $11.54. The company has a market capitalization of $81.24 million, a price-to-earnings ratio of 10.27 and a beta of 0.27.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.27 EPS for the quarter. Magyar Bancorp had a return on equity of 6.94% and a net margin of 15.19%. The business had revenue of $7.19 million during the quarter.

Magyar Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, August 8th. Magyar Bancorp’s payout ratio is 16.67%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magyar Bancorp stock. BHZ Capital Management LP bought a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 28,366 shares of the bank’s stock, valued at approximately $318,000. BHZ Capital Management LP owned 0.43% of Magyar Bancorp at the end of the most recent quarter. Institutional investors and hedge funds own 46.32% of the company’s stock.

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.