Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.58 and traded as low as $17.48. Magyar Bancorp shares last traded at $17.48, with a volume of 866 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Magyar Bancorp Stock Performance

The company’s 50 day moving average is $17.48 and its 200 day moving average is $17.59. The stock has a market capitalization of $118.15 million, a price-to-earnings ratio of 9.78 and a beta of 0.22.

Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Thursday, July 23rd. The bank reported $0.49 earnings per share for the quarter. The business had revenue of $10.24 million for the quarter. Magyar Bancorp had a return on equity of 9.69% and a net margin of 18.89%.

Magyar Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. Magyar Bancorp’s payout ratio is currently 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Magyar Bancorp by 0.5% during 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. Maltese Capital Management LLC raised its position in Magyar Bancorp by 1.4% in 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. M3F Inc. raised its position in Magyar Bancorp by 1.3% in the first quarter. M3F Inc. now owns 283,894 shares of the bank’s stock worth $4,914,000 after purchasing an additional 3,544 shares in the last quarter. Geode Capital Management LLC lifted its stake in Magyar Bancorp by 6.9% during the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,027 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new position in Magyar Bancorp during the fourth quarter worth about $544,000. 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.