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

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Thursday, April 18th, 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 of this dividend is Tuesday, May 7th.

Hanover Bancorp Trading Up 5.6 %

HNVR traded up $0.80 during mid-day trading on Thursday, reaching $15.05. The stock had a trading volume of 6,669 shares, compared to its average volume of 4,989. The stock has a market capitalization of $108.81 million, a P/E ratio of 8.22 and a beta of -0.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day simple moving average is $15.85 and its two-hundred day simple moving average is $17.09. Hanover Bancorp has a 52 week low of $13.62 and a 52 week high of $18.91.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.54 EPS 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 return on equity of 7.47% and a net margin of 10.93%. On average, equities analysts predict that Hanover Bancorp will post 1.88 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new position in Hanover Bancorp during the fourth quarter worth about $195,000. Vanguard Group Inc. lifted 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 acquiring an additional 90,089 shares in the last quarter. Alliancebernstein L.P. lifted 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 acquiring an additional 14,155 shares in the last quarter. BlackRock Inc. lifted 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 acquiring an additional 592 shares in the last quarter. Finally, UBS Group AG lifted 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 acquiring an additional 721 shares in the last quarter. 15.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.