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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Wednesday, August 7th will be given 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 is Wednesday, August 7th.

Hanover Bancorp Stock Down 6.2 %

Shares of NASDAQ HNVR opened at $16.56 on Friday. The firm has a market cap of $120.06 million, a P/E 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. Hanover Bancorp has a 1 year low of $13.62 and a 1 year high of $18.86. The firm’s 50 day moving average price is $16.55 and its 200 day moving average price is $16.47.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.34). Hanover Bancorp had a return on equity of 6.33% and a net margin of 8.70%. The company had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $16.30 million. As a group, sell-side analysts anticipate that Hanover Bancorp will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price target on shares of Hanover Bancorp from $18.00 to $20.00 and gave the company 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.