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

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, February 12th.

Hanover Bancorp Price Performance

Shares of Hanover Bancorp stock opened at $26.80 on Friday. The stock has a market capitalization of $191.62 million, a P/E ratio of 16.14 and a beta of -0.04. 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 business’s fifty day moving average price is $24.18 and its 200 day moving average price is $20.48. Hanover Bancorp has a twelve month low of $13.62 and a twelve month high of $27.14.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate 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, research analysts anticipate that Hanover Bancorp will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions 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 shares were sold at an average price of $25.50, for a total transaction of $63,750.00. Following the transaction, the director now directly owns 28,345 shares of the company’s stock, valued at approximately $722,797.50. The trade was a 8.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 24.76% of the company’s stock.

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.