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

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

Hanover Bancorp Stock Down 6.2 %

HNVR stock opened at $16.56 on Friday. The company has a market capitalization of $120.06 million, a price-to-earnings ratio of 8.45 and a beta of -0.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.04. The business’s 50 day moving average price is $16.55 and its two-hundred day moving average price is $16.47. Hanover Bancorp has a fifty-two week low of $13.62 and a fifty-two week high of $18.86.

Hanover Bancorp (NASDAQ:HNVR) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.11 earnings per share (EPS) 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 business had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $16.30 million. As a group, analysts forecast that Hanover Bancorp will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on Hanover Bancorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a report 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.