Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Magyar Bancorp, Inc. (NASDAQ:MGYR - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.53 and traded as high as $16.83. Magyar Bancorp shares last traded at $17.19, with a volume of 691 shares trading hands.Get Magyar Bancorp alerts:Wall Street Analysts Forecast GrowthSeparately, Weiss Ratings restated a "hold (c)" rating on shares of Magyar Bancorp in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".Check Out Our Latest Research Report on Magyar BancorpMagyar Bancorp Trading Up 2.2%The business has a fifty day moving average of $17.10 and a 200 day moving average of $16.53. The company has a market capitalization of $110.88 million, a PE ratio of 11.02 and a beta of 0.25. Magyar Bancorp (NASDAQ:MGYR - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.40 earnings per share (EPS) for the quarter. Magyar Bancorp had a net margin of 15.00% and a return on equity of 8.56%. The company had revenue of $9.25 million for the quarter. Magyar Bancorp Announces DividendThe firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Magyar Bancorp's dividend payout ratio is 20.51%. Institutional Trading of Magyar BancorpA number of large investors have recently modified their holdings of MGYR. Geode Capital Management LLC raised its stake in shares of Magyar Bancorp by 6.9% in the second quarter. Geode Capital Management LLC now owns 62,433 shares of the bank's stock valued at $1,051,000 after acquiring an additional 4,027 shares in the last quarter. Oppenheimer & Close LLC purchased a new stake in Magyar Bancorp during the 3rd quarter worth about $416,000. Finally, Truffle Hound Capital LLC raised its position in Magyar Bancorp by 74.3% in the 3rd quarter. Truffle Hound Capital LLC now owns 162,486 shares of the bank's stock valued at $2,806,000 after purchasing an additional 69,245 shares in the last quarter. Hedge funds and other institutional investors own 46.32% of the company's stock. Magyar Bancorp Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Magyar BancorpInvesting In Automotive StocksCoreWeave's Guidance Cut: A Buying Opportunity in Disguise?Unveiling The Power Of VWAP: A Key Indicator For TradersStrategy Shares Plunge as Bitcoin Retreats—More Pain Ahead?Best Energy Stocks - Energy Stocks to Buy NowBigBear.ai Stock Is Range-Bound—Wall Street Isn’t Buying the HypeThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Magyar Bancorp Right Now?Before you consider Magyar Bancorp, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Magyar Bancorp wasn't on the list.While Magyar Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here