Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Above 200 Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.20 and traded as high as $18.50. Magyar Bancorp shares last traded at $18.40, with a volume of 12,504 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Magyar Bancorp Price Performance

The company has a fifty day moving average of $17.48 and a 200 day moving average of $17.20. The stock has a market cap of $120.34 million, a P/E ratio of 10.64 and a beta of 0.26.

Magyar Bancorp (NASDAQ:MGYR) last issued its earnings results on Thursday, January 29th. The bank reported $0.50 EPS for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 16.25%.The firm had revenue of $9.65 million for the quarter.

Magyar Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.08. Magyar Bancorp’s dividend payout ratio is presently 18.50%.

Institutional Trading of Magyar Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Magyar Bancorp by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after purchasing an additional 737 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Magyar Bancorp by 6.9% in the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock valued at $1,051,000 after buying an additional 4,027 shares during the period. Oppenheimer & Close LLC acquired a new position in shares of Magyar Bancorp in the third quarter valued at approximately $416,000. Finally, Truffle Hound Capital LLC increased its position in shares of Magyar Bancorp by 74.3% during the third 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 and hedge funds own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

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.