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

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.10 per share on Wednesday, May 15th. This represents a $0.40 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, May 7th.

Hanover Bancorp Stock Performance

HNVR stock opened at $16.61 on Monday. Hanover Bancorp has a twelve month low of $13.62 and a twelve month high of $18.86. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $120.09 million, a P/E ratio of 8.47 and a beta of -0.24. The business’s fifty day moving average is $15.59 and its 200-day moving average is $16.95.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, April 17th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.19. Hanover Bancorp had a net margin of 10.82% and a return on equity of 7.69%. The company had revenue of $16.51 million for the quarter, compared to analyst estimates of $15.60 million. Equities research analysts forecast that Hanover Bancorp will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price target on shares of Hanover Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th.

Insider Buying and Selling

In other news, Director Elena Sisti acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $33,900.00. Following the completion of the acquisition, the director now owns 101,878 shares in the company, valued at $1,726,832.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders purchased 3,550 shares of company stock valued at $59,724. Company 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.