Magyar Bancorp (NASDAQ:MGYR) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.31 and traded as high as $16.00. Magyar Bancorp shares last traded at $15.90, with a volume of 34,766 shares trading hands.

Magyar Bancorp Stock Up 1.3%

The stock has a market capitalization of $102.89 million, a price-to-earnings ratio of 12.14 and a beta of 0.10. The firm has a 50-day moving average of $14.35 and a two-hundred day moving average of $14.31.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results on Wednesday, April 30th. The bank reported $0.43 earnings per share for the quarter. The firm had revenue of $15.78 million for the quarter. Magyar Bancorp had a return on equity of 7.49% and a net margin of 15.25%.

Magyar Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.06 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.51%. Magyar Bancorp’s dividend payout ratio (DPR) is currently 16.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in Magyar Bancorp by 16.1% in the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after purchasing an additional 2,300 shares in the last quarter. Northern Trust Corp grew its stake in Magyar Bancorp by 37.2% in the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after purchasing an additional 7,501 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Magyar Bancorp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 974 shares in the last quarter. Finally, PL Capital Advisors LLC grew its stake in Magyar Bancorp by 1,360.0% in the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after purchasing an additional 3,461,975 shares in the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.