Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above 200 Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.71 and traded as high as $14.20. Magyar Bancorp shares last traded at $14.20, with a volume of 1,892 shares trading hands.

Magyar Bancorp Stock Performance

The firm has a market capitalization of $91.99 million, a P/E ratio of 11.45 and a beta of 0.30. The firm’s 50-day moving average is $13.81 and its 200 day moving average is $12.71.

Magyar Bancorp Cuts Dividend

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

Institutional Investors Weigh In On Magyar Bancorp

An institutional investor recently bought a new position in Magyar Bancorp stock. Private Advisor Group LLC purchased a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned approximately 0.17% of Magyar Bancorp at the end of the most recent reporting period. Hedge funds and other institutional investors own 46.32% of the company’s stock.

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.