Hanover Bancorp (NASDAQ:HNVR) PT Raised to $20.00 at Piper Sandler

Posted by Cynthia Vaughn on Jul 26th, 2024

Hanover Bancorp (NASDAQ:HNVR – Free Report) had its target price increased by Piper Sandler from $18.00 to $20.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Hanover Bancorp Stock Down 6.2 %

Shares of Hanover Bancorp stock opened at $16.56 on Thursday. The stock has a 50-day moving average price of $16.55 and a 200 day moving average price of $16.47. The company has a market cap of $120.06 million, a P/E ratio of 8.45 and a beta of -0.23. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Hanover Bancorp has a 1 year low of $13.62 and a 1 year high of $18.86.

Hanover Bancorp (NASDAQ:HNVR – Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.34). Hanover Bancorp had a return on equity of 6.33% and a net margin of 8.70%. The firm had revenue of $37.04 million during the quarter, compared to analyst estimates of $16.30 million. As a group, analysts expect that Hanover Bancorp will post 2.05 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.42%. The ex-dividend date is Wednesday, August 7th. Hanover Bancorp’s payout ratio is currently 20.41%.

About Hanover Bancorp

(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.