Magyar Bancorp (NASDAQ:MGYR) Shares Pass Below 200-Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.34 and traded as low as $17.11. Magyar Bancorp shares last traded at $17.28, with a volume of 5,130 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Magyar Bancorp in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Magyar Bancorp currently has an average rating of “Hold”.

Magyar Bancorp Price Performance

The business’s 50-day moving average price is $17.79 and its 200-day moving average price is $17.34. The firm has a market capitalization of $111.97 million, a PE ratio of 9.99 and a beta of 0.24.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings results on Friday, February 13th. The bank reported $0.50 EPS for the quarter. The firm had revenue of $9.66 million during the quarter. Magyar Bancorp had a net margin of 16.25% and a return on equity of 9.18%.

Magyar Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. Magyar Bancorp’s dividend payout ratio is currently 23.12%.

Hedge Funds Weigh In On Magyar Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in MGYR. Oppenheimer & Close LLC purchased a new stake in Magyar Bancorp during the 3rd quarter valued at approximately $416,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Magyar Bancorp in the 4th quarter valued at approximately $544,000. Geode Capital Management LLC increased 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 purchasing an additional 4,027 shares during the period. Truffle Hound Capital LLC purchased a new stake in shares of Magyar Bancorp during the second quarter worth approximately $1,554,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 during the period. 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.