Hanover Bancorp, Inc. (NASDAQ:HNVR) Short Interest Up 6.8% in October

Hanover Bancorp, Inc. (NASDAQ:HNVR) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 7,900 shares, an increase of 6.8% from the October 15th total of 7,400 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 7,600 shares, the short-interest ratio is currently 1.0 days.

Hanover Bancorp Price Performance

Shares of HNVR traded down $0.18 during trading hours on Tuesday, hitting $21.20. 20,316 shares of the company were exchanged, compared to its average volume of 13,227. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $151.58 million, a PE ratio of 12.85 and a beta of -0.26. The firm has a fifty day simple moving average of $19.16 and a 200-day simple moving average of $17.67. Hanover Bancorp has a one year low of $13.62 and a one year high of $22.04.

Hanover Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, November 6th. Hanover Bancorp’s payout ratio is 24.24%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Hedge Funds Weigh In On Hanover Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Hanover Bancorp during the 2nd quarter worth about $170,000. Geode Capital Management LLC grew its position in Hanover Bancorp by 46.5% in the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock worth $779,000 after acquiring an additional 13,803 shares in the last quarter. Finally, Fourthstone LLC acquired a new position in Hanover Bancorp during the third quarter worth $877,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

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.