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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders 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 Trading Down 6.2 %

HNVR opened at $16.56 on Friday. The firm has a market capitalization of $120.06 million, a PE ratio of 8.45 and a beta of -0.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.03. Hanover Bancorp has a fifty-two week low of $13.62 and a fifty-two week high of $18.86. The company’s 50-day moving average is $16.55 and its 200 day moving average is $16.47.

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

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on Hanover Bancorp from $18.00 to $20.00 and gave the company an “overweight” rating in a research note 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.