Hanover Bancorp, Inc. (HNVR) To Go Ex-Dividend on August 6th

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

Hanover Bancorp has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Hanover Bancorp stock opened at $25.01 on Friday. The business has a 50-day simple moving average of $23.62 and a 200-day simple moving average of $22.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.05. Hanover Bancorp has a one year low of $19.91 and a one year high of $25.75. The company has a market cap of $179.07 million, a PE ratio of 19.69 and a beta of 0.11.

Hanover Bancorp (NASDAQ:HNVR) last issued its earnings results on Thursday, July 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Hanover Bancorp had a net margin of 6.71% and a return on equity of 6.01%. The firm had revenue of $19.57 million for the quarter, compared to analysts’ expectations of $19.83 million. On average, equities research analysts forecast that Hanover Bancorp will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Hanover Bancorp

In related news, Director Robert Golden sold 1,295 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $23.53, for a total transaction of $30,471.35. Following the completion of the sale, the director owned 31,702 shares in the company, valued at $745,948.06. The trade was a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 4,566 shares of company stock worth $105,240. 24.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hanover Bancorp

Several hedge funds have recently added to or reduced their stakes in HNVR. BNP Paribas Financial Markets lifted its position in shares of Hanover Bancorp by 219.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company’s stock worth $29,000 after buying an additional 886 shares during the last quarter. Bank of America Corp DE grew its position in shares of Hanover Bancorp by 3,744.7% in the 2nd quarter. Bank of America Corp DE now owns 1,461 shares of the company’s stock valued at $33,000 after buying an additional 1,423 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Hanover Bancorp in the 2nd quarter valued at $51,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Hanover Bancorp in the second quarter valued at $59,000. Finally, Russell Investments Group Ltd. purchased a new stake in Hanover Bancorp in the third quarter valued at $71,000. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

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.