Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Above 200-Day Moving Average of $11.46

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.46 and traded as high as $12.25. Magyar Bancorp shares last traded at $12.25, with a volume of 556 shares.

Magyar Bancorp Price Performance

The business has a fifty day moving average of $12.15 and a 200-day moving average of $11.46. The stock has a market capitalization of $80.74 million, a price-to-earnings ratio of 10.20 and a beta of 0.27.

Magyar Bancorp (NASDAQ:MGYR) last released its earnings results on Thursday, July 25th. The bank reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $7.19 million for the quarter. Magyar Bancorp had a return on equity of 6.94% and a net margin of 15.19%.

Magyar Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.05 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. Magyar Bancorp’s dividend payout ratio (DPR) is 16.67%.

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. BHZ Capital Management LP acquired a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 28,366 shares of the bank’s stock, valued at approximately $318,000. BHZ Capital Management LP owned approximately 0.43% of Magyar Bancorp as of its most recent filing with the Securities and Exchange Commission. 46.32% of the stock is currently owned by hedge funds and other 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.