Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Posted by George Bondi on Jan 22nd, 2025

Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.89 and traded as high as $14.66. Magyar Bancorp shares last traded at $14.24, with a volume of 1,764 shares changing hands.

Magyar Bancorp Price Performance

The stock has a market cap of $93.16 million, a price-to-earnings ratio of 11.44 and a beta of 0.30. The business’s 50 day moving average is $14.12 and its 200 day moving average is $12.91.

Magyar Bancorp (NASDAQ:MGYR – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.41 EPS for the quarter. Magyar Bancorp had a net margin of 14.91% and a return on equity of 7.18%. The company had revenue of $14.74 million for the quarter.

Magyar Bancorp Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, December 6th. Magyar Bancorp’s dividend payout ratio is presently 16.13%.

Institutional Investors Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC acquired a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned 0.17% of Magyar Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 46.32% of the company’s stock.

About Magyar Bancorp

(Get Free Report)

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.