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

Shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.53 and traded as high as $14.68. Magyar Bancorp shares last traded at $14.26, with a volume of 2,957 shares trading hands.

Magyar Bancorp Stock Performance

The firm has a market cap of $92.37 million, a P/E ratio of 10.88 and a beta of 0.29. The stock’s 50 day simple moving average is $14.44 and its 200 day simple moving average is $13.53.

Magyar Bancorp (NASDAQ:MGYR) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 EPS for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.49%.

Magyar Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.06 dividend. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. Magyar Bancorp’s dividend payout ratio is presently 18.32%.

Institutional Trading of Magyar Bancorp

Several institutional investors have recently made changes to their positions in the company. PL Capital Advisors LLC grew its stake in shares of Magyar Bancorp by 1,360.0% in the 4th quarter. PL Capital Advisors LLC now owns 3,716,532 shares of the bank’s stock worth $54,261,000 after acquiring an additional 3,461,975 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Magyar Bancorp by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 133,227 shares of the bank’s stock worth $1,930,000 after acquiring an additional 974 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Magyar Bancorp by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 57,876 shares of the bank’s stock worth $713,000 after acquiring an additional 3,437 shares in the last quarter. Northern Trust Corp grew its stake in shares of Magyar Bancorp by 37.2% in the 4th quarter. Northern Trust Corp now owns 27,674 shares of the bank’s stock worth $404,000 after acquiring an additional 7,501 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Magyar Bancorp by 16.1% in the 4th quarter. Renaissance Technologies LLC now owns 16,586 shares of the bank’s stock worth $242,000 after acquiring an additional 2,300 shares in the last quarter. 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.