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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Wednesday, November 6th will be paid a dividend of 0.10 per share on Wednesday, November 13th. This represents a $0.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, November 6th.

Hanover Bancorp Stock Performance

Shares of HNVR opened at $19.24 on Friday. 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 $21.50. The firm’s 50 day moving average price is $18.29 and its two-hundred day moving average price is $17.07. The firm has a market cap of $139.47 million, a P/E ratio of 9.82 and a beta of -0.23.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.34). The business had revenue of $37.04 million during the quarter, compared to the consensus estimate of $16.30 million. Hanover Bancorp had a return on equity of 6.33% and a net margin of 8.70%. On average, analysts forecast that Hanover Bancorp will post 1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price objective on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research 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.