Hanover Bancorp (NASDAQ:HNVR) Announces Earnings Results

Hanover Bancorp (NASDAQ:HNVR) announced its quarterly earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.34), Zacks reports. Hanover Bancorp had a net margin of 10.82% and a return on equity of 7.62%. The company had revenue of $37.04 million during the quarter, compared to the consensus estimate of $16.30 million.

Hanover Bancorp Trading Down 6.2 %

NASDAQ:HNVR traded down $1.09 during mid-day trading on Thursday, hitting $16.56. The company had a trading volume of 1,913 shares, compared to its average volume of 5,738. Hanover Bancorp has a fifty-two week low of $13.62 and a fifty-two week high of $18.86. The business’s fifty day moving average is $16.55 and its two-hundred day moving average is $16.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market cap of $120.06 million, a P/E ratio of 8.45 and a beta of -0.23.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on Hanover Bancorp from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday.

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.