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

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Thursday, January 29th. Investors of record on Thursday, February 12th will be paid a dividend of 0.10 per share on Thursday, February 26th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, February 12th.

Hanover Bancorp has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hanover Bancorp to earn $2.91 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 13.7%.

Hanover Bancorp Trading Down 2.5%

Shares of Hanover Bancorp stock traded down $0.60 during trading hours on Friday, hitting $23.35. The company’s stock had a trading volume of 8,494 shares, compared to its average volume of 15,566. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market capitalization of $167.89 million, a PE ratio of 15.40 and a beta of 0.04. The stock has a 50 day moving average of $23.24 and a 200 day moving average of $22.39. Hanover Bancorp has a 12 month low of $18.31 and a 12 month high of $26.93.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.51). Hanover Bancorp had a net margin of 7.82% and a return on equity of 7.20%. The company had revenue of $18.60 million during the quarter, compared to the consensus estimate of $18.85 million. Analysts predict that Hanover Bancorp will post 2.38 earnings per share for the current year.

About Hanover Bancorp

Hanover Bancorp, Inc is the bank holding company for The Hanover National Bank, a regional financial institution headquartered in Syracuse, New York. Through its subsidiary, the company provides a full range of commercial and retail banking services, with an emphasis on relationship-driven client support and community engagement.

Key offerings include deposit products such as checking, savings, and certificates of deposit, as well as commercial and consumer lending solutions. The bank also offers treasury management services, residential mortgage origination, and investment advisory services to meet the diverse needs of individuals, small businesses, and municipalities within its market area.

Operating primarily in Central and Upstate New York, Hanover Bancorp maintains a network of branches and loan production offices designed to serve local communities.