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

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.57 and traded as high as $17.92. Magyar Bancorp shares last traded at $17.60, with a volume of 1,854 shares changing hands.

Analysts Set New Price Targets

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

Magyar Bancorp Stock Up 0.9%

The stock’s fifty day simple moving average is $17.48 and its 200-day simple moving average is $17.57. The company has a market capitalization of $113.70 million, a PE ratio of 9.89 and a beta of 0.22.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.48 earnings per share 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 Dividend Announcement

The company also recently announced 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 2.3%. The ex-dividend date of this dividend was Thursday, May 7th. Magyar Bancorp’s payout ratio is presently 22.47%.

Institutional Trading of Magyar Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. M3F Inc. increased its holdings in Magyar Bancorp by 1.3% in the 1st quarter. M3F Inc. now owns 283,894 shares of the bank’s stock valued at $4,914,000 after purchasing an additional 3,544 shares in the last quarter. Maltese Capital Management LLC lifted 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 purchasing an additional 3,453 shares in the last quarter. Truffle Hound Capital LLC boosted its position in shares of Magyar Bancorp by 23.1% in the fourth quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after buying an additional 37,514 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after buying an additional 737 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 in the last quarter. 46.32% of the stock is currently owned by institutional investors and hedge funds.

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.