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

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 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 Trading Up 5.6 %

Shares of NASDAQ HNVR opened at $15.05 on Friday. Hanover Bancorp has a 1-year low of $13.62 and a 1-year high of $18.91. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $15.80 and a two-hundred day moving average of $17.07. The company has a market cap of $108.81 million, a PE ratio of 7.68 and a beta of -0.14.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.20. The firm had revenue of $15.91 million for the quarter, compared to the consensus estimate of $14.40 million. Hanover Bancorp had a return on equity of 7.69% and a net margin of 10.82%. As a group, equities analysts expect that Hanover Bancorp will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HNVR. TheStreet raised shares of Hanover Bancorp from a “d+” rating to a “c-” rating in a report on Wednesday, January 3rd. Piper Sandler upped their price target on shares of Hanover Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, January 25th.

Institutional Trading of Hanover Bancorp

A number of large investors have recently added to or reduced their stakes in HNVR. Vanguard Group Inc. raised its stake in Hanover Bancorp by 56.2% in the 3rd quarter. Vanguard Group Inc. now owns 250,286 shares of the company’s stock valued at $4,528,000 after acquiring an additional 90,089 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Hanover Bancorp by 15.7% in the third quarter. Alliancebernstein L.P. now owns 404,135 shares of the company’s stock valued at $7,727,000 after purchasing an additional 54,857 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Hanover Bancorp in the fourth quarter valued at about $195,000. BlackRock Inc. acquired a new stake in shares of Hanover Bancorp during the 3rd quarter worth about $50,000. Finally, UBS Group AG lifted its stake in shares of Hanover Bancorp by 73.6% during the 1st 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 and hedge funds own 15.02% 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.