Magyar Bancorp (NASDAQ:MGYR) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.58 and traded as low as $17.48. Magyar Bancorp shares last traded at $17.48, with a volume of 866 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Magyar Bancorp Price Performance

The stock has a market capitalization of $112.92 million, a P/E ratio of 9.82 and a beta of 0.22. The stock’s fifty day moving average is $17.47 and its 200-day moving average is $17.58.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.49 earnings per share for the quarter. Magyar Bancorp had a return on equity of 9.28% and a net margin of 18.32%.The business had revenue of $10.24 million for the quarter.

Magyar Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 6th. Magyar Bancorp’s dividend payout ratio (DPR) is currently 22.47%.

Hedge Funds Weigh In On Magyar Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Magyar Bancorp by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 62,433 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,027 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Magyar Bancorp by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 135,352 shares of the bank’s stock worth $2,311,000 after purchasing an additional 737 shares during the period. Truffle Hound Capital LLC lifted its stake in Magyar Bancorp by 23.1% during the fourth quarter. Truffle Hound Capital LLC now owns 200,000 shares of the bank’s stock worth $3,456,000 after purchasing an additional 37,514 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in Magyar Bancorp during the fourth quarter valued at approximately $544,000. Finally, Maltese Capital Management LLC boosted its stake in Magyar Bancorp by 1.4% in the 4th quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock valued at $4,191,000 after buying an additional 3,453 shares in the last quarter. Institutional investors own 46.32% of the company’s stock.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.