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

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Wednesday, February 12th will be paid a dividend of 0.10 per share on Wednesday, February 19th. This represents a $0.40 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, February 12th.

Hanover Bancorp Stock Up 0.8 %

Shares of NASDAQ HNVR traded up $0.21 during mid-day trading on Thursday, reaching $26.76. The company had a trading volume of 12,963 shares, compared to its average volume of 15,582. The stock’s 50 day moving average is $24.11 and its 200-day moving average is $20.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. Hanover Bancorp has a twelve month low of $13.62 and a twelve month high of $27.14. The stock has a market capitalization of $191.33 million, a PE ratio of 16.22 and a beta of -0.04.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Hanover Bancorp had a net margin of 8.39% and a return on equity of 6.77%. As a group, equities analysts anticipate that Hanover Bancorp will post 1.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hanover Bancorp news, Director Robert Golden sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $25.50, for a total transaction of $63,750.00. Following the completion of the transaction, the director now owns 28,345 shares of the company’s stock, valued at $722,797.50. This represents a 8.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 24.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HNVR shares. Piper Sandler lifted their price target on shares of Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Stephens downgraded Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

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.