Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Posted by Defense World Staff on Oct 9th, 2024

Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.60 and traded as high as $12.32. Magyar Bancorp shares last traded at $12.27, with a volume of 5,768 shares trading hands.

Magyar Bancorp Price Performance

The business has a 50 day simple moving average of $12.31 and a 200-day simple moving average of $11.60. The stock has a market capitalization of $80.91 million, a price-to-earnings ratio of 10.23 and a beta of 0.27.

Magyar Bancorp (NASDAQ:MGYR – Get Free Report) last issued 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 company had revenue of $7.19 million for the quarter.

Magyar Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.05 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.20 annualized dividend and a yield of 1.63%. Magyar Bancorp’s dividend 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 bought a new position in Magyar Bancorp, Inc. (NASDAQ:MGYR – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 28,366 shares of the bank’s stock, valued at approximately $318,000. BHZ Capital Management LP owned approximately 0.43% of Magyar Bancorp as of its most recent SEC filing. 46.32% of the stock is owned by institutional investors.

Magyar Bancorp Company Profile

(Get Free Report)

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.