Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Above 200-Day Moving Average – Should You Sell?

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 $13.63 and traded as high as $14.15. Magyar Bancorp shares last traded at $14.37, with a volume of 279 shares.

Magyar Bancorp Price Performance

The company has a market cap of $93.12 million, a price-to-earnings ratio of 10.97 and a beta of 0.29. The firm’s 50-day moving average price is $14.48 and its 200-day moving average price is $13.63.

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

Magyar Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05. Magyar Bancorp’s dividend payout ratio (DPR) is presently 18.32%.

Institutional Trading of Magyar Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised 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 worth $1,930,000 after purchasing an additional 974 shares during the period. Renaissance Technologies LLC grew its stake in Magyar Bancorp by 16.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after buying an additional 2,300 shares during the last quarter. Geode Capital Management LLC increased its position in Magyar Bancorp by 6.3% in the third quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after buying an additional 3,437 shares during the period. Northern Trust Corp lifted its stake in Magyar Bancorp by 37.2% in the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after buying an additional 7,501 shares during the last quarter. Finally, PL Capital Advisors LLC boosted its holdings in shares of Magyar Bancorp by 1,360.0% during the fourth 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. 46.32% of the stock is owned by institutional investors.

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.