Hanover Bancorp, Inc. (HNVR) to Distribute Quarterly Dividend of $0.10 on November 18th

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.10 per share on Wednesday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 10th.

Hanover Bancorp has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hanover Bancorp to earn $3.05 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 13.1%.

Hanover Bancorp Trading Up 2.7%

Shares of NASDAQ:HNVR opened at $23.60 on Friday. Hanover Bancorp has a 12-month low of $19.91 and a 12-month high of $27.94. The business has a 50 day moving average of $25.73 and a 200-day moving average of $23.90. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.17. The stock has a market cap of $166.62 million, a PE ratio of 16.86 and a beta of 0.11.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $19.28 million during the quarter, compared to analysts’ expectations of $20.00 million. Hanover Bancorp had a return on equity of 6.44% and a net margin of 7.33%. As a group, equities research analysts forecast that Hanover Bancorp will post 2.39 earnings per share for the current year.

Institutional Trading of Hanover Bancorp

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Hanover Bancorp during the second quarter valued at approximately $6,620,000. Susquehanna International Group LLP acquired a new stake in shares of Hanover Bancorp in the 2nd quarter valued at $3,026,000. Corient Private Wealth LP acquired a new stake in shares of Hanover Bancorp in the 2nd quarter valued at $985,000. Dimensional Fund Advisors LP boosted its holdings in shares of Hanover Bancorp by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 31,643 shares of the company’s stock valued at $683,000 after purchasing an additional 554 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Hanover Bancorp in the 2nd quarter valued at $258,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

Hanover Bancorp Company Profile

Hanover Bancorp, Inc is the parent company of Hanover Community Bank, a community-focused banking institution headquartered in Mineola, New York. The bank provides a range of financial services to individuals, families, businesses and nonprofit organizations through its branch network and digital banking channels.

Hanover Community Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction and land loans, commercial business financing, home equity loans and consumer credit.