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 traded.

Magyar Bancorp Stock Up 1.5 %

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

Magyar Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a $0.05 dividend. 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 dividend payout ratio (DPR) is currently 16.13%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magyar Bancorp stock. Private Advisor Group LLC acquired a new stake in Magyar Bancorp, Inc. (NASDAQ:MGYR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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. Hedge funds and other institutional investors own 46.32% of the company’s stock.

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.