Hanover Bancorp, Inc. (HNVR) to Issue Quarterly Dividend of $0.10 on February 19th

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, February 12th.

Hanover Bancorp Stock Performance

HNVR stock traded down $0.21 during trading on Friday, reaching $26.59. The company had a trading volume of 12,084 shares, compared to its average volume of 15,499. The company has a market cap of $190.12 million, a price-to-earnings ratio of 16.02 and a beta of -0.04. Hanover Bancorp has a twelve month low of $13.62 and a twelve month high of $27.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a 50-day simple moving average of $24.18 and a 200-day simple moving average of $20.48.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Hanover Bancorp had a net margin of 8.32% and a return on equity of 6.71%. As a group, sell-side analysts expect that Hanover Bancorp will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HNVR shares. Stephens lowered Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Piper Sandler increased their price target on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Insider Activity at Hanover Bancorp

In related news, Director Robert Golden sold 2,500 shares of Hanover Bancorp 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 directly owns 28,345 shares in the company, valued at approximately $722,797.50. This trade represents a 8.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.76% of the stock is currently owned by insiders.

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.