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

Magyar Bancorp, Inc. (NASDAQ:MGYR) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 Stock Down 3.5 %

The firm has a 50-day moving average price of $13.84 and a two-hundred day moving average price of $12.73. The company has a market capitalization of $88.75 million, a P/E ratio of 11.05 and a beta of 0.30.

Magyar Bancorp Cuts Dividend

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

Institutional Trading of Magyar Bancorp

An institutional investor recently bought a new position in Magyar Bancorp stock. Private Advisor Group LLC acquired a new stake in shares of Magyar Bancorp, Inc. (NASDAQ:MGYR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,064 shares of the bank’s stock, valued at approximately $136,000. Private Advisor Group LLC owned approximately 0.17% of Magyar Bancorp at the end of the most recent quarter. Hedge funds and other institutional investors 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.