Hanover Bancorp (HNVR) to Release Quarterly Earnings on Wednesday

Hanover Bancorp (NASDAQ:HNVR) is expected to release its earnings data before the market opens on Wednesday, January 22nd. Analysts expect Hanover Bancorp to post earnings of $0.49 per share for the quarter.

Hanover Bancorp Stock Performance

HNVR stock traded up $0.95 during midday trading on Wednesday, hitting $23.18. 8,950 shares of the stock traded hands, compared to its average volume of 9,717. Hanover Bancorp has a 1-year low of $13.62 and a 1-year high of $27.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02. The stock’s fifty day simple moving average is $23.24 and its 200-day simple moving average is $19.78. The firm has a market cap of $165.81 million, a P/E ratio of 14.05 and a beta of -0.04.

Hanover Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Wednesday, November 6th. Hanover Bancorp’s payout ratio is currently 24.24%.

Insider Activity

In related news, Director Robert Golden sold 2,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were 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 in the company, valued at $722,797.50. This represents a 8.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.76% of the company’s stock.

Analysts Set New Price Targets

HNVR has been the subject of a number of analyst reports. Piper Sandler upped their price target on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a 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.

Hanover Bancorp Company Profile

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.