Magyar Bancorp (NASDAQ:MGYR) Shares Cross Above 200 Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.13 and traded as high as $17.64. Magyar Bancorp shares last traded at $17.6950, with a volume of 3,316 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magyar Bancorp in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Magyar Bancorp has a consensus rating of “Hold”.

Magyar Bancorp Trading Up 0.4%

The company’s 50 day simple moving average is $17.26 and its 200-day simple moving average is $17.13. The firm has a market cap of $115.73 million, a P/E ratio of 11.34 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Friday, December 19th. The bank reported $0.39 earnings per share for the quarter. The firm had revenue of $9.25 million during the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.47%.

Magyar Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. Magyar Bancorp’s payout ratio is currently 20.51%.

Institutional Trading of Magyar Bancorp

Large investors have recently modified their holdings of the company. Truffle Hound Capital LLC increased its position in Magyar Bancorp by 74.3% during the third quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank’s stock valued at $2,806,000 after acquiring an additional 69,245 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after purchasing an additional 737 shares during the period. Geode Capital Management LLC increased its position in shares of Magyar Bancorp by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after purchasing an additional 4,027 shares during the last quarter. Finally, Oppenheimer & Close LLC bought a new position in shares of Magyar Bancorp in the 3rd quarter worth approximately $416,000. 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.