Hanover Bancorp, Inc. (HNVR) to Issue Quarterly Dividend of $0.10 on February 26th

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Thursday, February 12th will be paid a dividend of 0.10 per share on Thursday, February 26th. This represents a c) dividend on an annualized basis 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. 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 Price Performance

HNVR opened at $23.10 on Friday. The company’s 50-day simple moving average is $23.27 and its two-hundred day simple moving average is $22.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market capitalization of $166.09 million, a P/E ratio of 23.10 and a beta of 0.04. Hanover Bancorp has a 52-week low of $18.31 and a 52-week high of $26.93.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.51). Hanover Bancorp had a net margin of 5.22% and a return on equity of 5.18%. The company had revenue of $18.60 million for the quarter, compared to analysts’ expectations of $18.85 million. As a group, analysts predict that Hanover Bancorp will post 2.38 EPS for the current year.

Hanover Bancorp Company Profile

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.