Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells $63,750.00 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,500 shares of Hanover Bancorp stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $25.50, for a total value of $63,750.00. Following the completion of the sale, the director now owns 28,345 shares of the company’s stock, valued at $722,797.50. The trade was a 8.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Hanover Bancorp Stock Performance

Shares of Hanover Bancorp stock traded up $0.03 during trading hours on Tuesday, reaching $25.42. 46,925 shares of the stock traded hands, compared to its average volume of 7,992. Hanover Bancorp, Inc. has a one year low of $13.62 and a one year high of $27.14. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $181.75 million, a price-to-earnings ratio of 15.41 and a beta of -0.10. The company has a 50 day moving average price of $21.16 and a 200 day moving average price of $18.57.

Hanover Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.57%. Hanover Bancorp’s payout ratio is currently 24.24%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Hanover Bancorp by 46.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock valued at $779,000 after buying an additional 13,803 shares in the last quarter. Fourthstone LLC purchased a new position in shares of Hanover Bancorp during the 3rd quarter valued at about $877,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Hanover Bancorp during the 2nd quarter valued at about $170,000. 15.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HNVR shares. Stephens downgraded Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday. Piper Sandler boosted their price target on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

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.