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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.59 and traded as low as $17.40. Magyar Bancorp shares last traded at $17.60, with a volume of 3,779 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Magyar Bancorp Stock Performance

The firm’s fifty day simple moving average is $17.47 and its 200 day simple moving average is $17.59. The stock has a market capitalization of $113.70 million, a price-to-earnings ratio of 9.89 and a beta of 0.22.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.48 earnings per share for the quarter. Magyar Bancorp had a net margin of 18.32% and a return on equity of 9.28%. The company had revenue of $10.09 million during the quarter.

Magyar Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. Magyar Bancorp’s dividend payout ratio is presently 22.47%.

Institutional Trading of Magyar Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of MGYR. Charles Schwab Investment Management Inc. acquired a new position in shares of Magyar Bancorp during the fourth quarter worth about $544,000. Geode Capital Management LLC raised its position in Magyar Bancorp by 6.9% in the 2nd 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 last quarter. Dimensional Fund Advisors LP lifted its stake in Magyar Bancorp by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock valued at $2,311,000 after acquiring an additional 737 shares in the last quarter. Truffle Hound Capital LLC lifted its stake in Magyar Bancorp by 23.1% in the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock valued at $3,456,000 after acquiring an additional 37,514 shares in the last quarter. Finally, Maltese Capital Management LLC boosted its position in Magyar Bancorp by 1.4% during the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after acquiring an additional 3,453 shares during the last quarter. Institutional investors and hedge funds 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.