Hanover Bancorp, Inc. (HNVR) To Go Ex-Dividend on November 10th

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.10 per share on Wednesday, November 18th. This represents a $0.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, November 10th.

Hanover Bancorp has a dividend payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hanover Bancorp to earn $2.98 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 13.4%.

Hanover Bancorp Stock Performance

HNVR opened at $21.84 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.17. Hanover Bancorp has a 12-month low of $20.19 and a 12-month high of $27.94. The business has a 50 day moving average of $25.21 and a 200-day moving average of $23.89. The stock has a market cap of $154.19 million, a price-to-earnings ratio of 15.60 and a beta of 0.12.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, October 28th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Hanover Bancorp had a return on equity of 6.44% and a net margin of 7.33%. The business had revenue of $19.28 million for the quarter, compared to analyst estimates of $20.00 million. On average, equities research analysts expect that Hanover Bancorp will post 2.37 earnings per share for the current year.

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.