Hanover Bancorp (NASDAQ:HNVR) Announces Earnings Results, Beats Estimates By $0.03 EPS

Hanover Bancorp (NASDAQ:HNVR) announced its quarterly earnings results on Wednesday. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03, Zacks reports. Hanover Bancorp had a net margin of 8.32% and a return on equity of 6.71%.

Hanover Bancorp Stock Performance

Shares of Hanover Bancorp stock opened at $26.74 on Friday. The company has a 50 day moving average of $24.18 and a 200-day moving average of $20.48. Hanover Bancorp has a 1-year low of $13.62 and a 1-year high of $27.14. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market cap of $191.19 million, a PE ratio of 16.11 and a beta of -0.04.

Hanover Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, February 12th. Hanover Bancorp’s dividend payout ratio (DPR) is presently 24.10%.

Insider Activity at Hanover Bancorp

In related news, Director Robert Golden sold 2,500 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $25.50, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.