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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Wednesday, February 12th will be paid a dividend of 0.10 per share on Wednesday, February 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, February 12th.

Hanover Bancorp Stock Up 0.9 %

Shares of NASDAQ:HNVR opened at $26.80 on Friday. Hanover Bancorp has a fifty-two week low of $13.62 and a fifty-two week high of $27.14. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $24.18 and its 200-day simple moving average is $20.48. The company has a market cap of $191.62 million, a price-to-earnings ratio of 16.14 and a beta of -0.04.

Hanover Bancorp (NASDAQ:HNVR) last issued its earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that Hanover Bancorp will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Hanover Bancorp

In other news, Director Robert Golden sold 2,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was 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 directly owns 28,345 shares of the company’s stock, valued at $722,797.50. The trade was a 8.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.76% of the stock is owned by corporate insiders.

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.