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

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.42 and traded as high as $17.68. Magyar Bancorp shares last traded at $17.68, with a volume of 1,116 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Magyar Bancorp presently has a consensus rating of “Hold”.

Magyar Bancorp Stock Performance

The firm has a market cap of $112.82 million, a P/E ratio of 9.78 and a beta of 0.23. The stock’s 50 day simple moving average is $17.48 and its 200 day simple moving average is $17.42.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.48 EPS for the quarter. The business had revenue of $10.09 million during the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.38%.

Magyar Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be paid a $0.10 dividend. The ex-dividend date is Thursday, May 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. Magyar Bancorp’s dividend payout ratio is presently 22.47%.

Institutional Trading of Magyar Bancorp

Institutional investors have recently made changes to their positions in the company. Oppenheimer & Close LLC bought a new stake in shares of Magyar Bancorp in the 3rd quarter worth $416,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Magyar Bancorp in the 4th quarter worth $544,000. Geode Capital Management LLC grew its stake in shares of Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after acquiring an additional 4,027 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Magyar Bancorp by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after acquiring an additional 737 shares in the last quarter. Finally, Truffle Hound Capital LLC grew its stake in shares of Magyar Bancorp by 74.3% in the 3rd quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank’s stock worth $2,806,000 after acquiring an additional 69,245 shares in the last quarter. Institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.