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

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.37 and traded as high as $14.65. Magyar Bancorp shares last traded at $14.65, with a volume of 4,448 shares traded.

Magyar Bancorp Stock Performance

The firm has a market cap of $95.08 million, a price-to-earnings ratio of 11.81 and a beta of 0.31. The company has a 50 day moving average price of $13.23 and a 200 day moving average price of $12.37.

Magyar Bancorp Cuts Dividend

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

Institutional Trading of 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 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned about 0.17% of Magyar Bancorp at the end of the most recent quarter. Institutional investors and hedge funds 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.