Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

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 $12.89 and traded as high as $14.66. Magyar Bancorp shares last traded at $14.24, with a volume of 1,764 shares changing hands.

Magyar Bancorp Stock Down 2.7 %

The firm has a 50 day moving average of $14.08 and a 200 day moving average of $12.89. The firm has a market cap of $93.58 million, a price-to-earnings ratio of 11.49 and a beta of 0.30.

Magyar Bancorp Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.04 per share. The ex-dividend date was Friday, December 6th. Magyar Bancorp’s payout ratio is 16.13%.

Institutional Trading of Magyar Bancorp

A hedge fund recently raised its stake in Magyar Bancorp stock. Geode Capital Management LLC grew its holdings in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,876 shares of the bank’s stock after buying an additional 3,437 shares during the quarter. Geode Capital Management LLC owned 0.89% of Magyar Bancorp worth $713,000 at the end of the most recent reporting period. Hedge funds and other 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.