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

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Thursday, August 6th will be given a dividend of 0.10 per share on Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, August 6th.

Hanover Bancorp has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Hanover Bancorp to earn $2.90 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 13.8%.

Hanover Bancorp Stock Performance

Shares of HNVR stock opened at $24.79 on Friday. Hanover Bancorp has a one year low of $19.91 and a one year high of $25.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50 day moving average price of $23.57 and a 200 day moving average price of $22.78. The firm has a market capitalization of $177.50 million, a price-to-earnings ratio of 23.61 and a beta of 0.11.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $19.57 million for the quarter, compared to the consensus estimate of $19.83 million. Hanover Bancorp had a net margin of 5.53% and a return on equity of 5.09%. Sell-side analysts anticipate that Hanover Bancorp will post 2.41 EPS 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.