Hanover Bancorp, Inc. (NASDAQ:HNVR) Announces Quarterly Dividend of $0.10

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Wednesday, August 7th will be given a dividend of 0.10 per share on Wednesday, August 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, August 7th.

Hanover Bancorp Stock Down 6.2 %

Shares of HNVR opened at $16.56 on Friday. The company has a market capitalization of $120.06 million, a P/E ratio of 8.45 and a beta of -0.23. Hanover Bancorp has a one year low of $13.62 and a one year high of $18.86. The business’s 50 day simple moving average is $16.55 and its 200-day simple moving average is $16.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.03.

Hanover Bancorp (NASDAQ:HNVR) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.34). Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. The company had revenue of $37.04 million during the quarter, compared to analyst estimates of $16.30 million. As a group, sell-side analysts predict that Hanover Bancorp will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler upped their price target on Hanover Bancorp from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday.

About Hanover Bancorp

Hanover Bancorp, Inc, a bank holding company for Hanover Community Bank, provides personal and business lending and deposit services to businesses, municipalities, and individuals in the New York metro area. The company offers checking, credit cards, debit cards, money market, savings, government and municipal banking, and professional services, as well as time deposits, including certificate of deposit and individual retirement accounts.