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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.54 and traded as high as $17.90. Magyar Bancorp shares last traded at $17.90, with a volume of 1,790 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Magyar Bancorp Trading Up 0.8%

The company has a market capitalization of $115.63 million, a PE ratio of 10.06 and a beta of 0.22. The firm has a 50 day simple moving average of $17.48 and a two-hundred day simple moving average of $17.54.

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

Magyar Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, May 7th. Magyar Bancorp’s payout ratio is currently 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

A number of large investors have recently bought and sold shares of the company. M3F Inc. lifted its stake in shares of Magyar Bancorp by 1.3% in the 1st quarter. M3F Inc. now owns 283,894 shares of the bank’s stock worth $4,914,000 after acquiring an additional 3,544 shares during the period. Maltese Capital Management LLC increased its stake in shares of Magyar Bancorp by 1.4% during the fourth 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 period. Charles Schwab Investment Management Inc. acquired a new position in shares of Magyar Bancorp during the fourth quarter worth about $544,000. Truffle Hound Capital LLC raised its holdings in Magyar Bancorp by 23.1% during the fourth quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after purchasing an additional 37,514 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Magyar Bancorp by 0.5% during the third 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. Hedge funds and other institutional investors 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.