Robert Golden Sells 700 Shares of Hanover Bancorp (NASDAQ:HNVR) Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 700 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $23.60, for a total transaction of $16,520.00. Following the completion of the transaction, the director owned 195,358 shares of the company’s stock, valued at $4,610,448.80. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, February 5th, Robert Golden sold 500 shares of Hanover Bancorp stock. The stock was sold at an average price of $23.50, for a total transaction of $11,750.00.

Hanover Bancorp Trading Down 0.7%

HNVR opened at $23.10 on Wednesday. The stock has a market capitalization of $166.14 million, a P/E ratio of 23.10 and a beta of 0.04. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Hanover Bancorp, Inc. has a 12 month low of $18.31 and a 12 month high of $26.39. The firm’s fifty day simple moving average is $23.39 and its 200 day simple moving average is $22.45.

Hanover Bancorp (NASDAQ:HNVR) last released its earnings results on Thursday, January 29th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.51). Hanover Bancorp had a return on equity of 5.18% and a net margin of 5.22%.The firm had revenue of $18.60 million for the quarter, compared to the consensus estimate of $18.85 million. As a group, research analysts anticipate that Hanover Bancorp, Inc. will post 2.38 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, February 12th. Hanover Bancorp’s dividend payout ratio (DPR) is currently 40.00%.

Institutional Investors Weigh In On Hanover Bancorp

Several large investors have recently made changes to their positions in HNVR. Corient Private Wealth LLC acquired a new position in Hanover Bancorp during the second quarter worth $572,000. Fourthstone LLC bought a new position in shares of Hanover Bancorp in the 2nd quarter valued at about $6,690,000. Los Angeles Capital Management LLC acquired a new position in shares of Hanover Bancorp during the 2nd quarter worth about $382,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Hanover Bancorp during the 2nd quarter worth about $30,000. Finally, Bank of America Corp DE raised its holdings in shares of Hanover Bancorp by 3,744.7% in the 2nd quarter. Bank of America Corp DE now owns 1,461 shares of the company’s stock valued at $33,000 after purchasing an additional 1,423 shares during the period. Institutional investors and hedge funds own 15.02% of the company’s stock.

Wall Street Analysts Forecast Growth

HNVR has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hanover Bancorp in a research report on Monday, December 29th. Piper Sandler reduced their target price on shares of Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, Zacks Research downgraded shares of Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.33.

About Hanover Bancorp

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.