Magyar Bancorp (NASDAQ:MGYR) Stock Price Passes Above 200 Day Moving Average of $11.43

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.43 and traded as high as $12.38. Magyar Bancorp shares last traded at $12.16, with a volume of 5,507 shares trading hands.

Magyar Bancorp Price Performance

The company has a fifty day moving average of $12.05 and a two-hundred day moving average of $11.44. The stock has a market capitalization of $81.21 million, a P/E ratio of 10.26 and a beta of 0.27.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.27 earnings per share for the quarter. Magyar Bancorp had a return on equity of 6.94% and a net margin of 15.19%. The business had revenue of $7.19 million during the quarter.

Magyar Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.62%. Magyar Bancorp’s payout ratio is currently 16.67%.

Institutional Investors Weigh In On Magyar Bancorp

An institutional investor recently bought a new position in Magyar Bancorp stock. BHZ Capital Management LP bought a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 28,366 shares of the bank’s stock, valued at approximately $318,000. BHZ Capital Management LP owned about 0.43% of Magyar Bancorp as of its most recent filing with the Securities & Exchange Commission. 46.32% of the stock is currently owned by hedge funds and other institutional investors.

Magyar Bancorp Company Profile

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.