Hanover Bancorp, Inc. (HNVR) To Go Ex-Dividend on May 7th

Hanover Bancorp, Inc. (NASDAQ:HNVR) declared a quarterly dividend on Wednesday, April 17th, Wall Street Journal reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.10 per share on Wednesday, May 15th. This represents a $0.40 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, May 7th.

Hanover Bancorp Price Performance

Shares of NASDAQ HNVR opened at $15.05 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $108.81 million, a price-to-earnings ratio of 7.68 and a beta of -0.14. Hanover Bancorp has a twelve month low of $13.62 and a twelve month high of $18.91. The business has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $17.07.

Hanover Bancorp (NASDAQ:HNVR) last issued its earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. Hanover Bancorp had a net margin of 10.82% and a return on equity of 7.69%. The company had revenue of $15.91 million for the quarter, compared to analysts’ expectations of $14.40 million. As a group, equities research analysts expect that Hanover Bancorp will post 1.88 earnings per share for the current year.

Institutional Trading of Hanover Bancorp

A number of large investors have recently modified their holdings of the company. UBS Group AG grew its position in Hanover Bancorp by 117.8% in the 3rd quarter. UBS Group AG now owns 1,298 shares of the company’s stock worth $25,000 after purchasing an additional 702 shares during the last quarter. BlackRock Inc. bought a new position in Hanover Bancorp in the 3rd quarter worth approximately $50,000. Balyasny Asset Management L.P. bought a new position in Hanover Bancorp in the 4th quarter worth approximately $195,000. Vanguard Group Inc. increased its position in Hanover Bancorp by 56.2% in the 3rd quarter. Vanguard Group Inc. now owns 250,286 shares of the company’s stock valued at $4,528,000 after acquiring an additional 90,089 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Hanover Bancorp by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 397,897 shares of the company’s stock valued at $7,031,000 after acquiring an additional 14,155 shares in the last quarter. Institutional investors and hedge funds own 15.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. TheStreet raised shares of Hanover Bancorp from a “d+” rating to a “c-” rating in a report on Wednesday, January 3rd. Piper Sandler boosted their price objective on Hanover Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th.

About Hanover Bancorp

Hanover Bancorp, Inc, a bank holding company for Hanover Community Bank, provides personal and business lending and deposit services to businesses, municipalities, and individuals in the New York metro area. The company offers checking, credit cards, debit cards, money market, savings, government and municipal banking, and professional services, as well as time deposits, including certificate of deposit and individual retirement accounts.