Magyar Bancorp (NASDAQ:MGYR) Shares Cross Above 200 Day Moving Average – Should You Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.53 and traded as high as $14.68. Magyar Bancorp shares last traded at $14.26, with a volume of 2,957 shares traded.

Magyar Bancorp Trading Down 1.8 %

The stock has a market cap of $92.37 million, a price-to-earnings ratio of 10.88 and a beta of 0.29. The stock’s 50-day moving average price is $14.44 and its 200-day moving average price is $13.53.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.49%.

Magyar Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.06 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s payout ratio is 18.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PL Capital Advisors LLC lifted 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. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 974 shares during the period. Geode Capital Management LLC lifted its position in shares of Magyar Bancorp by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock valued at $713,000 after acquiring an additional 3,437 shares during the period. Northern Trust Corp lifted its position in shares of Magyar Bancorp by 37.2% during the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after acquiring an additional 7,501 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Magyar Bancorp by 16.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds 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.