Hanover Bancorp (NASDAQ:HNVR) Price Target Raised to $20.00 at Piper Sandler

Hanover Bancorp (NASDAQ:HNVR) had its target price upped by Piper Sandler from $18.00 to $20.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Hanover Bancorp Stock Performance

NASDAQ:HNVR opened at $16.59 on Thursday. The firm has a market cap of $120.28 million, a PE ratio of 8.46 and a beta of -0.23. Hanover Bancorp has a fifty-two week low of $13.62 and a fifty-two week high of $18.86. 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 has a 50 day moving average price of $16.56 and a 200-day moving average price of $16.46.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.34). The company had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $16.30 million. Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. Equities research analysts predict that Hanover Bancorp will post 1.77 earnings per share for the current year.

Hanover Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 7th. Hanover Bancorp’s dividend payout ratio (DPR) is presently 20.41%.

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.