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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Wednesday, February 12th will be given a dividend of 0.10 per share on Wednesday, February 19th. This represents a $0.40 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, February 12th.

Hanover Bancorp Price Performance

Shares of HNVR stock traded down $0.21 on Friday, reaching $26.59. 12,084 shares of the company were exchanged, compared to its average volume of 15,499. The company has a market cap of $190.12 million, a price-to-earnings ratio of 16.02 and a beta of -0.04. Hanover Bancorp has a 1 year low of $13.62 and a 1 year high of $27.14. The business has a 50-day moving average price of $24.18 and a 200 day moving average price of $20.48. 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 (NASDAQ:HNVR) last announced its earnings results on Wednesday, January 29th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. Equities research analysts forecast that Hanover Bancorp will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Hanover Bancorp

In other news, Director Robert Golden sold 2,500 shares of Hanover Bancorp stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $25.50, for a total transaction of $63,750.00. Following the transaction, the director now owns 28,345 shares in the company, valued at $722,797.50. The trade was a 8.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.76% of the company’s stock.

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.