Hanover Bancorp (NASDAQ:HNVR) Director Robert Golden Sells 700 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 700 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.60, for a total transaction of $16,520.00. Following the completion of the transaction, the director owned 195,358 shares of the company’s stock, valued at approximately $4,610,448.80. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Golden also recently made the following trade(s):

• On Thursday, February 5th, Robert Golden sold 500 shares of Hanover Bancorp stock. The stock was sold at an average price of $23.50, for a total value of $11,750.00.

Hanover Bancorp Price Performance

Hanover Bancorp stock opened at $23.27 on Tuesday. 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 company’s fifty day moving average price is $23.38 and its 200 day moving average price is $22.44. The stock has a market capitalization of $167.31 million, a P/E ratio of 23.27 and a beta of 0.04. Hanover Bancorp, Inc. has a 1 year low of $18.31 and a 1 year high of $26.43.

Hanover Bancorp (NASDAQ:HNVR) last announced its earnings results on Thursday, January 29th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.51). The company had revenue of $18.60 million during the quarter, compared to analyst estimates of $18.85 million. Hanover Bancorp had a net margin of 5.22% and a return on equity of 5.18%. As a group, equities research analysts anticipate that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current fiscal year.

Hanover Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, February 12th. Hanover Bancorp’s dividend payout ratio (DPR) is 40.00%.

Institutional Investors Weigh In On Hanover Bancorp

Large investors have recently made changes to their positions in the business. Fourthstone LLC acquired a new stake in shares of Hanover Bancorp in the 2nd quarter valued at about $6,690,000. Geode Capital Management LLC grew its holdings in shares of Hanover Bancorp by 117.7% during the second quarter. Geode Capital Management LLC now owns 105,721 shares of the company’s stock valued at $2,294,000 after buying an additional 57,166 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Hanover Bancorp during the second quarter valued at $572,000. Los Angeles Capital Management LLC bought a new position in shares of Hanover Bancorp during the 2nd quarter valued at $382,000. Finally, Teton Advisors LLC acquired a new stake in shares of Hanover Bancorp in the third quarter valued at about $314,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

Analysts Set New Price Targets

HNVR has been the subject of several recent analyst reports. Zacks Research cut Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanover Bancorp in a research report on Monday, December 29th. Finally, Piper Sandler cut their price target on shares of Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.33.

About Hanover Bancorp

Hanover Bancorp, Inc is the bank holding company for The Hanover National Bank, a regional financial institution headquartered in Syracuse, New York. Through its subsidiary, the company provides a full range of commercial and retail banking services, with an emphasis on relationship-driven client support and community engagement.

Key offerings include deposit products such as checking, savings, and certificates of deposit, as well as commercial and consumer lending solutions. The bank also offers treasury management services, residential mortgage origination, and investment advisory services to meet the diverse needs of individuals, small businesses, and municipalities within its market area.

Operating primarily in Central and Upstate New York, Hanover Bancorp maintains a network of branches and loan production offices designed to serve local communities.