Hanover Bancorp (NASDAQ:HNVR - Get Free Report) released its earnings results on Wednesday. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.03, Zacks reports. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%.
Hanover Bancorp Price Performance
Shares of HNVR stock traded down $0.21 during mid-day trading on Friday, reaching $26.59. The stock had a trading volume of 12,084 shares, compared to its average volume of 14,220. Hanover Bancorp has a 12-month low of $13.62 and a 12-month high of $27.14. The company has a market cap of $190.20 million, a P/E ratio of 16.02 and a beta of -0.04. The business has a 50-day simple moving average of $24.23 and a 200 day simple moving average of $20.57. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.
Hanover Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, February 12th. Hanover Bancorp's dividend payout ratio is currently 24.10%.
Analysts Set New Price Targets
A number of equities research analysts have commented on HNVR shares. Piper Sandler raised their target price on Hanover Bancorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Stephens downgraded Hanover Bancorp from an "overweight" rating to an "equal weight" rating in a report on Monday, December 9th.
Get Our Latest Stock Analysis on HNVR
Insider Activity
In other news, Director Robert Golden sold 2,500 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $25.50, for a total value of $63,750.00. Following the completion of the transaction, the director now owns 28,345 shares in the company, valued at $722,797.50. This trade represents a 8.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 24.76% of the company's stock.
Hanover Bancorp Company Profile
(
Get Free Report)
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.
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