Magyar Bancorp (NASDAQ:MGYR) Shares Cross Above 200-Day Moving Average of $11.50

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.50 and traded as high as $12.50. Magyar Bancorp shares last traded at $12.50, with a volume of 19,237 shares.

Magyar Bancorp Stock Up 1.9 %

The firm’s fifty day simple moving average is $12.25 and its 200-day simple moving average is $11.50. The company has a market cap of $82.43 million, a PE ratio of 10.42 and a beta of 0.27.

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

Magyar Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, August 8th. Magyar Bancorp’s payout ratio is currently 16.67%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magyar Bancorp stock. BHZ Capital Management LP acquired a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,366 shares of the bank’s stock, valued at approximately $318,000. BHZ Capital Management LP owned about 0.43% of Magyar Bancorp at the end of the most recent reporting 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.