Hanover Bancorp Q2 net income rises

Reuters

Jul 24

Hanover Bancorp <a href="https://laohu8.com/S/QTWO">Q2</a> net income rises

Overview

Hanover Bancorp Q2 net income rises to $2.4 mln from $0.8 mln in 2024
Net interest income for Q2 2025 increased 11.69% year-over-year

Outlook

Company anticipates higher C&I lending and deposit activity in 2025
Company sees continued expansion into Eastern Long Island
Hanover expects interest rate environment to remain challenging

Result Drivers

NET INTEREST INCOME - Increased by 11.69% year-over-year due to improved net interest margin
DEMAND DEPOSIT GROWTH - Increased by 13.03% from March 2025, driven by C&I and Municipal banking success
LOAN PORTFOLIO MANAGEMENT - Focus on residential, C&I, and SBA loans with reduced commercial real estate concentration

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Net Income		$2.44 mln
Q2 Net Interest Income		$14.80 mln
Q2 Loan Loss Provision		$2.36 mln
Q2 Pretax Profit		$3.38 mln

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Hanover Bancorp Inc is $25.25, about 11.5% above its July 22 closing price of $22.35
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX7dqMvh

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hanover Bancorp Q2 net income rises</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HNVR","symbol_name":"Hanover Bancorp, Inc./NY","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250723:nPLX913E1B:1","article_id":"2553324025","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2553324025","pubTimestamp":1753301437,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Hanover Bancorp Q2 net income risesOverviewHanover Bancorp Q2 net income rises to $2.4 mln from $0.8 mln in 2024Net interest income for Q2 2025 increased 11.69% year-over-yearOutlookCompany anticipate","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HNVR":"Hanover Bancorp, Inc./NY","BK4211":"区域性银行"},"translate_title":"汉诺威银行第二季度净利润增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HNVR":0.9},"content_text":"Hanover Bancorp Q2 net income rises OverviewHanover Bancorp Q2 net income rises to $2.4 mln from $0.8 mln in 2024Net interest income for Q2 2025 increased 11.69% year-over-yearOutlookCompany anticipates higher C&I lending and deposit activity in 2025Company sees continued expansion into Eastern Long IslandHanover expects interest rate environment to remain challengingResult DriversNET INTEREST INCOME - Increased by 11.69% year-over-year due to improved net interest marginDEMAND DEPOSIT GROWTH - Increased by 13.03% from March 2025, driven by C&I and Municipal banking successLOAN PORTFOLIO MANAGEMENT - Focus on residential, C&I, and SBA loans with reduced commercial real estate concentrationKey DetailsMetricBeat/MissActualConsensus EstimateQ2 Net Income$2.44 mlnQ2 Net Interest Income$14.80 mlnQ2 Loan Loss Provision$2.36 mlnQ2 Pretax Profit$3.38 mlnAnalyst CoverageThe current average analyst rating on the shares is \"buy\" and the breakdown of recommendations is 1 \"strong buy\" or \"buy\", 1 \"hold\" and no \"sell\" or \"strong sell\"The average consensus recommendation for the banks peer group is \"buy\"Wall Street's median 12-month price target for Hanover Bancorp Inc is $25.25, about 11.5% above its July 22 closing price of $22.35The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months agoPress Release: ID:nGNX7dqMvh(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}