Magyar Bancorp (NASDAQ:MGYR) Shares Cross Below 200-Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.59 and traded as low as $17.40. Magyar Bancorp shares last traded at $17.60, with a volume of 3,779 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Magyar Bancorp Price Performance

The firm has a 50-day moving average of $17.47 and a 200 day moving average of $17.59. The stock has a market capitalization of $113.70 million, a price-to-earnings ratio of 9.89 and a beta of 0.22.

Magyar Bancorp (NASDAQ:MGYR) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.48 earnings per share for the quarter. The firm had revenue of $10.09 million during the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 18.32%.

Magyar Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 7th. Magyar Bancorp’s dividend payout ratio is presently 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. bought a new stake in Magyar Bancorp during the fourth quarter worth $544,000. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 4,027 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Magyar Bancorp by 0.5% in 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 during the period. Truffle Hound Capital LLC grew its position in shares of Magyar Bancorp by 23.1% in the 4th quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock valued at $3,456,000 after acquiring an additional 37,514 shares during the period. Finally, Maltese Capital Management LLC increased its stake in shares of Magyar Bancorp by 1.4% during the 4th 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 during the last quarter. 46.32% of the stock is currently owned by institutional investors and hedge funds.

About Magyar Bancorp

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.