Robert Golden Sells 2,259 Shares of Hanover Bancorp (NASDAQ:HNVR) Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,259 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $22.79, for a total value of $51,482.61. Following the sale, the director owned 34,009 shares in the company, valued at $775,065.11. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 20th, Robert Golden sold 1,012 shares of Hanover Bancorp stock. The shares were sold at an average price of $23.01, for a total value of $23,286.12.

Hanover Bancorp Price Performance

Shares of NASDAQ:HNVR traded up $0.15 during trading on Thursday, reaching $23.16. 59,577 shares of the company’s stock traded hands, compared to its average volume of 14,780. Hanover Bancorp, Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $24.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The firm has a market cap of $165.83 million, a PE ratio of 22.06 and a beta of 0.12. The company has a 50-day simple moving average of $22.10 and a 200-day simple moving average of $22.50.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings data on Monday, April 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $19.11 million for the quarter, compared to the consensus estimate of $19.50 million. Hanover Bancorp had a net margin of 5.53% and a return on equity of 5.09%.

Hanover Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend 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 presently 38.10%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Zacks Research downgraded shares of Hanover Bancorp from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Weiss Ratings raised shares of Hanover Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, Piper Sandler decreased their price objective on shares of Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating on the stock in a report on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hanover Bancorp currently has an average rating of “Hold” and an average price target of $24.33.

Hedge Funds Weigh In On Hanover Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in shares of Hanover Bancorp by 219.9% in the third quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company’s stock worth $29,000 after buying an additional 886 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Hanover Bancorp by 3,744.7% in the second quarter. Bank of America Corp DE now owns 1,461 shares of the company’s stock worth $33,000 after buying an additional 1,423 shares in the last quarter. Strs Ohio purchased a new position in shares of Hanover Bancorp in the third quarter worth about $36,000. JPMorgan Chase & Co. purchased a new position in shares of Hanover Bancorp in the second quarter worth about $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Hanover Bancorp in the second quarter worth about $59,000. 15.02% of the stock is owned by hedge funds and other institutional investors.

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.