Hanover Bancorp, Inc. (NASDAQ:HNVR) Shareholders Set to Receive $0.10 Quarterly Dividend

Key Points

• Hanover Bancorp declared a quarterly dividend of $0.10 per share, payable November 18 to shareholders of record on November 11. The annualized dividend is $0.40 per share, representing a 1.7% yield.
• The dividend appears well covered, with a current payout ratio of 13.0% and an expected future payout ratio of approximately 13.1% based on projected earnings.
• Hanover Bancorp reported quarterly earnings of $0.60 per share, slightly exceeding analysts’ $0.59 estimate, while revenue of $19.28 million fell short of the $20.00 million consensus.

Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Wednesday, November 11th will be paid a dividend of $0.10 per share on Wednesday, November 18th. This represents a $0.40 dividend on an annualized basis and a yield of 1.7%. 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. Equities research analysts expect Hanover Bancorp to earn $3.05 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 13.1%.

Hanover Bancorp Stock Down 1.9%

HNVR stock opened at $22.97 on Thursday. Hanover Bancorp has a fifty-two week low of $19.91 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $162.05 million, a price-to-earnings ratio of 18.09 and a beta of 0.11. The business's fifty day moving average price is $25.80 and its two-hundred day moving average price is $23.90.

Hanover Bancorp (NASDAQ:HNVR - Get Free Report) 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. The company had revenue of $19.28 million during the quarter, compared to the consensus estimate of $20.00 million. Hanover Bancorp had a return on equity of 6.00% and a net margin of 6.71%. On average, equities analysts anticipate that Hanover Bancorp will post 2.39 earnings per share for the current year.

About Hanover Bancorp

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.

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