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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders of record on Wednesday, May 8th will be paid 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 2.66%. The ex-dividend date is Tuesday, May 7th.

Hanover Bancorp Stock Up 5.6 %

HNVR traded up $0.80 during trading on Thursday, reaching $15.05. The company had a trading volume of 6,671 shares, compared to its average volume of 4,989. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.08 and a quick ratio of 1.08. Hanover Bancorp has a 12 month low of $13.62 and a 12 month high of $18.91. The business’s fifty day moving average price is $15.85 and its 200 day moving average price is $17.09. The company has a market cap of $108.81 million, a P/E ratio of 8.18 and a beta of -0.14.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. The firm had revenue of $15.91 million for the quarter, compared to analyst estimates of $14.40 million. Hanover Bancorp had a net margin of 10.93% and a return on equity of 7.47%. Equities analysts anticipate that Hanover Bancorp will post 1.88 EPS for the current year.

Analysts Set New Price Targets

HNVR has been the topic of a number of research reports. Piper Sandler boosted their price objective on shares of Hanover Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. TheStreet raised shares of Hanover Bancorp from a “d+” rating to a “c-” rating in a research report on Wednesday, January 3rd.

Institutional Trading of Hanover Bancorp

A number of institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. bought a new stake in shares of Hanover Bancorp in the fourth quarter worth $195,000. Vanguard Group Inc. increased its holdings in Hanover Bancorp by 56.2% during the third quarter. Vanguard Group Inc. now owns 250,286 shares of the company’s stock worth $4,528,000 after buying an additional 90,089 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Hanover Bancorp by 3.7% during the second quarter. Alliancebernstein L.P. now owns 397,897 shares of the company’s stock worth $7,031,000 after buying an additional 14,155 shares during the last quarter. BlackRock Inc. increased its holdings in Hanover Bancorp by 4.9% during the first quarter. BlackRock Inc. now owns 12,736 shares of the company’s stock worth $229,000 after buying an additional 592 shares during the last quarter. Finally, UBS Group AG increased its holdings in Hanover Bancorp by 73.6% during the first quarter. UBS Group AG now owns 1,700 shares of the company’s stock worth $31,000 after buying an additional 721 shares during the last quarter. Institutional investors own 15.02% 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.