Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells $66,450.00 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,500 shares of Hanover Bancorp stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $26.58, for a total value of $66,450.00. Following the completion of the transaction, the director now owns 27,920 shares in the company, valued at $742,113.60. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 shares were sold at an average price of $25.50, for a total transaction of $63,750.00.

Hanover Bancorp Stock Down 0.1 %

HNVR opened at $26.77 on Wednesday. The business has a 50 day simple moving average of $24.34 and a 200-day simple moving average of $20.73. Hanover Bancorp, Inc. has a 12 month low of $13.62 and a 12 month high of $27.14. The stock has a market capitalization of $191.41 million, a P/E ratio of 16.13 and a beta of -0.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02.

Hanover Bancorp (NASDAQ:HNVR) last released its earnings results on Wednesday, January 29th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current fiscal year.

Hanover Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.49%. Hanover Bancorp’s payout ratio is 24.10%.

Institutional Trading of Hanover Bancorp

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Hanover Bancorp in the 2nd quarter worth about $170,000. Fourthstone LLC acquired a new position in Hanover Bancorp during the third quarter worth about $877,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 15.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stephens cut shares of Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

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.