Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden Sells 2,761 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,761 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $26.61, for a total value of $73,470.21. Following the transaction, the director now owns 2,239 shares in the company, valued at $59,579.79. This trade represents a 55.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 3rd, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $26.58, for a total value of $66,450.00.
• On Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The stock was sold at an average price of $26.68, for a total value of $60,616.96.
• On Tuesday, December 10th, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $25.50, for a total value of $63,750.00.

Hanover Bancorp Stock Down 0.3 %

NASDAQ:HNVR traded down $0.07 during trading hours on Thursday, hitting $26.34. The company’s stock had a trading volume of 9,411 shares, compared to its average volume of 14,732. The stock has a market capitalization of $188.33 million, a P/E ratio of 15.87 and a beta of -0.02. The stock has a fifty day moving average of $24.38 and a 200-day moving average of $20.77. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Hanover Bancorp, Inc. has a 52-week low of $13.62 and a 52-week high of $27.14.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, January 29th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. On average, equities analysts forecast that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Wednesday, February 12th. Hanover Bancorp’s payout ratio is 24.10%.

Wall Street Analyst Weigh In

HNVR has been the topic of several analyst reports. Stephens cut Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Piper Sandler increased their price objective on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

Hedge Funds Weigh In On Hanover Bancorp

Several hedge funds have recently made changes to their positions in HNVR. Renaissance Technologies LLC acquired a new stake in Hanover Bancorp in the second quarter valued at about $170,000. Fourthstone LLC acquired a new stake in Hanover Bancorp in the third quarter valued at about $877,000. Finally, Geode Capital Management LLC lifted 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 valued at $779,000 after purchasing an additional 13,803 shares during the period. Hedge funds and other institutional investors own 15.02% of the company’s stock.

About Hanover Bancorp

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.