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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Wednesday, November 6th will be paid a dividend of 0.10 per share on Wednesday, November 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 6th.

Hanover Bancorp Price Performance

Shares of NASDAQ HNVR opened at $19.24 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $18.29 and its 200 day moving average price is $17.07. Hanover Bancorp has a 52 week low of $13.62 and a 52 week high of $21.50. The stock has a market cap of $139.47 million, a price-to-earnings ratio of 9.82 and a beta of -0.23.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.34). Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. The business had revenue of $37.04 million during the quarter, compared to analyst estimates of $16.30 million. As a group, research analysts forecast that Hanover Bancorp will post 1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler increased their target price on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday.

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.