Hanover Bancorp Second Quarter 2024 Earnings: Beats Expectations

Hanover Bancorp (NASDAQ:HNVR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$16.2m (up 9.9% from 2Q 2023).
• Net income: US$4.06m (up 32% from 2Q 2023).
• Profit margin: 25% (up from 21% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.55 (up from US$0.44 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hanover Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 25%.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Hanover Bancorp that you should be aware of.

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