Magyar Bancorp Stock Edges Down After Dividend Day, Tiny Volume in Focus
Magyar Bancorp shares dipped 0.85% to $17.45 at the close Friday on Nasdaq. Volume was light, in line with the stock's usual trading. The move follows Thursday, the scheduled payout date for Magyar’s 10-cent quarterly dividend to shareholders of record as of May 7. MGYR is a small cap name and doesn’t trade like a major bank. The latest volume was 3,850 shares, about double what SoFi lists as average. Market value comes in at about $113.7 million, meaning a few trades can move the price.