Hanover Bancorp (NASDAQ:HNVR) Director Robert Golden Sells 2,259 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,259 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $22.79, for a total transaction of $51,482.61. Following the transaction, the director owned 34,009 shares in the company, valued at $775,065.11. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, May 20th, Robert Golden sold 1,012 shares of Hanover Bancorp stock. The stock was sold at an average price of $23.01, for a total transaction of $23,286.12.

Hanover Bancorp Stock Up 0.7%

Shares of NASDAQ HNVR opened at $23.16 on Friday. Hanover Bancorp, Inc. has a 1 year low of $19.91 and a 1 year high of $24.49. The firm has a 50-day simple moving average of $22.15 and a two-hundred day simple moving average of $22.52. The company has a market cap of $165.83 million, a P/E ratio of 22.06 and a beta of 0.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.05.

Hanover Bancorp (NASDAQ:HNVR) last released its earnings results on Monday, April 27th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Hanover Bancorp had a return on equity of 5.09% and a net margin of 5.53%.The firm had revenue of $19.11 million for the quarter, compared to analysts’ expectations of $19.50 million.

Hanover Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were paid a $0.10 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.7%. Hanover Bancorp’s dividend payout ratio (DPR) is presently 38.10%.

Institutional Investors Weigh In On Hanover Bancorp

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in Hanover Bancorp by 219.9% during the third quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company’s stock valued at $29,000 after buying an additional 886 shares during the period. Bank of America Corp DE raised its position in shares of Hanover Bancorp by 3,744.7% in the 2nd quarter. Bank of America Corp DE now owns 1,461 shares of the company’s stock worth $33,000 after acquiring an additional 1,423 shares in the last quarter. Strs Ohio purchased a new stake in shares of Hanover Bancorp during the 3rd quarter worth $36,000. JPMorgan Chase & Co. bought a new stake in Hanover Bancorp during the second quarter valued at about $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Hanover Bancorp during the second quarter valued at about $59,000. Institutional investors own 15.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Hanover Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Piper Sandler lowered their price objective on shares of Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating for the company in a research report on Friday, January 30th. Finally, Zacks Research downgraded shares of Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hanover Bancorp currently has a consensus 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.