Magyar Bancorp (NASDAQ:MGYR) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.13 and traded as high as $17.64. Magyar Bancorp shares last traded at $17.6950, with a volume of 3,316 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Magyar Bancorp Price Performance

The firm’s 50 day moving average is $17.26 and its 200 day moving average is $17.13. The firm has a market cap of $115.73 million, a P/E ratio of 11.34 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR) last announced its earnings results on Friday, December 19th. The bank reported $0.39 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.47%. The business had revenue of $9.25 million during the quarter.

Magyar Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Thursday, November 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, November 13th. Magyar Bancorp’s payout ratio is 20.51%.

Hedge Funds Weigh In On Magyar Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Magyar Bancorp by 0.5% in the 3rd 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 in the last quarter. Geode Capital Management LLC raised its holdings in 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 buying an additional 4,027 shares during the last quarter. Oppenheimer & Close LLC purchased a new position in Magyar Bancorp in the third quarter worth about $416,000. Finally, Truffle Hound Capital LLC lifted 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 buying an additional 69,245 shares in the last quarter. 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.