Hanover Bancorp (NASDAQ:HNVR) Director Robert Golden Sells 1,012 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 1,012 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $23.01, for a total value of $23,286.12. Following the completion of the sale, the director owned 32,997 shares of the company’s stock, valued at approximately $759,260.97. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, May 19th, Robert Golden sold 2,259 shares of Hanover Bancorp stock. The stock was sold at an average price of $22.79, for a total value of $51,482.61.

Hanover Bancorp Trading Up 0.7%

NASDAQ HNVR traded up $0.15 on Thursday, hitting $23.16. The company’s stock had a trading volume of 59,577 shares, compared to its average volume of 14,780. Hanover Bancorp, Inc. has a 52-week low of $19.91 and a 52-week high of $24.49. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $22.10 and its 200 day simple moving average is $22.50. The firm has a market cap of $165.83 million, a P/E ratio of 22.06 and a beta of 0.12.

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. The company had revenue of $19.11 million during the quarter, compared to analysts’ expectations of $19.50 million. Hanover Bancorp had a return on equity of 5.09% and a net margin of 5.53%.

Hanover Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on HNVR shares. Piper Sandler reduced their price objective on Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating for the company in a research report on Friday, January 30th. Weiss Ratings raised Hanover Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Zacks Research lowered Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.33.

Institutional Trading of Hanover Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of HNVR. Fourthstone LLC increased its holdings in shares of Hanover Bancorp by 22.6% in the 4th quarter. Fourthstone LLC now owns 516,702 shares of the company’s stock worth $11,941,000 after purchasing an additional 95,194 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hanover Bancorp by 117.7% in the 2nd quarter. Geode Capital Management LLC now owns 105,721 shares of the company’s stock worth $2,294,000 after purchasing an additional 57,166 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Hanover Bancorp in the 2nd quarter worth $572,000. GM Advisory Group LLC bought a new stake in shares of Hanover Bancorp in the 4th quarter worth $430,000. Finally, Teton Advisors LLC bought a new stake in shares of Hanover Bancorp in the 3rd quarter worth $314,000. Institutional investors own 15.02% of the company’s stock.

Hanover Bancorp Company Profile

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.