Magyar Bancorp (NASDAQ:MGYR) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.87 and traded as high as $13.24. Magyar Bancorp shares last traded at $13.06, with a volume of 8,045 shares trading hands.

Magyar Bancorp Stock Performance

The firm’s 50 day moving average price is $12.38 and its two-hundred day moving average price is $11.87. The firm has a market cap of $84.76 million, a PE ratio of 10.53 and a beta of 0.27.

Magyar Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.53%. Magyar Bancorp’s payout ratio is currently 16.13%.

Hedge Funds Weigh In On Magyar Bancorp

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC acquired a new position in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC. 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.