Magyar Bancorp (NASDAQ:MGYR) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.16 and traded as high as $15.51. Magyar Bancorp shares last traded at $15.48, with a volume of 3,315 shares.

Magyar Bancorp Trading Up 1.5%

The stock has a market capitalization of $100.17 million, a PE ratio of 11.82 and a beta of 0.10. The stock has a 50 day moving average price of $14.20 and a 200-day moving average price of $14.18.

Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Wednesday, April 30th. The bank reported $0.43 earnings per share for the quarter. The company 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.06 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.55%. Magyar Bancorp’s dividend payout ratio is presently 16.67%.

Institutional Investors Weigh In On Magyar Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of MGYR. Renaissance Technologies LLC raised its holdings in Magyar Bancorp by 16.1% during the fourth quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock valued at $242,000 after acquiring an additional 2,300 shares during the period. Northern Trust Corp raised its holdings in Magyar Bancorp by 37.2% during the fourth quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock valued at $404,000 after acquiring an additional 7,501 shares during the period. Dimensional Fund Advisors LP raised its holdings in Magyar Bancorp by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock valued at $1,930,000 after acquiring an additional 974 shares during the period. Finally, PL Capital Advisors LLC raised its holdings in Magyar Bancorp by 1,360.0% during the fourth quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock valued at $54,261,000 after acquiring an additional 3,461,975 shares during the period. 46.32% of the stock is owned by institutional investors.

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.