Magyar Bancorp (NASDAQ:MGYR) Shares Pass Above 200 Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.44 and traded as high as $16.04. Magyar Bancorp shares last traded at $15.83, with a volume of 8,367 shares changing hands.

Magyar Bancorp Stock Up 0.1%

The firm has a market capitalization of $102.43 million, a P/E ratio of 12.08 and a beta of 0.17. The firm’s 50-day simple moving average is $14.57 and its 200-day simple moving average is $14.44.

Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Wednesday, April 30th. The bank reported $0.43 earnings per share for the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%. The company had revenue of $15.78 million during the quarter.

Magyar Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Wednesday, May 14th. Magyar Bancorp’s payout ratio is currently 16.67%.

Hedge Funds Weigh In On Magyar Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in MGYR. Northern Trust Corp grew its holdings in shares of Magyar Bancorp by 37.2% in the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after acquiring an additional 7,501 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Magyar Bancorp by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 974 shares during the period. Renaissance Technologies LLC grew its position in Magyar Bancorp by 16.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after buying an additional 2,300 shares during the period. Finally, PL Capital Advisors LLC grew its position in shares of Magyar Bancorp by 1,360.0% during the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after acquiring an additional 3,461,975 shares during the period. Institutional investors 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.