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

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares crossed 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 changing hands.

Magyar Bancorp Price Performance

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

Magyar Bancorp Cuts Dividend

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

Institutional Trading of Magyar Bancorp

An institutional investor recently bought a new position in Magyar Bancorp stock. Private Advisor Group LLC purchased a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 SEC filing. 46.32% of the stock is owned by institutional investors and hedge funds.

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.