Hanover Bancorp (NASDAQ:HNVR) Stock Price Down 0.1%

Hanover Bancorp, Inc. (NASDAQ:HNVR) traded down 0.1% during mid-day trading on Thursday . The stock traded as low as $16.11 and last traded at $16.20. 3,958 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 4,504 shares. The stock had previously closed at $16.21.

Hanover Bancorp Stock Performance

The business has a 50-day moving average price of $16.45 and a 200-day moving average price of $16.53. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $117.45 million, a price-to-earnings ratio of 8.27 and a beta of -0.23.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.19. The company had revenue of $16.51 million during the quarter, compared to analysts’ expectations of $15.60 million. Hanover Bancorp had a return on equity of 7.62% and a net margin of 10.82%. As a group, sell-side analysts forecast that Hanover Bancorp, Inc. will post 2.05 earnings per share for the current year.

Hanover Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Tuesday, May 7th. Hanover Bancorp’s dividend payout ratio is presently 20.41%.

Insiders Place Their Bets

In related news, Director Elena Sisti acquired 2,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average cost of $16.95 per share, with a total value of $33,900.00. Following the completion of the acquisition, the director now directly owns 101,878 shares of the company’s stock, valued at $1,726,832.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 4,550 shares of company stock valued at $76,094. Insiders own 24.76% of the company’s stock.

Hanover Bancorp Company Profile

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.