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 business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $23.01, for a total transaction 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. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 transaction of $51,482.61.

Hanover Bancorp Stock Up 0.7%

Shares of NASDAQ HNVR opened at $23.16 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. Hanover Bancorp, Inc. has a 52 week low of $19.91 and a 52 week high of $24.49. The firm’s fifty day moving average is $22.15 and its 200 day moving average is $22.52. The company has a market cap of $165.83 million, a price-to-earnings ratio of 22.06 and a beta of 0.12.

Hanover Bancorp (NASDAQ:HNVR) last issued its earnings results on Monday, April 27th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company 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 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 payout ratio is presently 38.10%.

Hedge Funds Weigh In On Hanover Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of HNVR. BNP Paribas Financial Markets increased its position in shares of Hanover Bancorp by 219.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company’s stock valued at $29,000 after purchasing an additional 886 shares during the last quarter. Bank of America Corp DE increased its position in shares of Hanover Bancorp by 3,744.7% during 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 last quarter. Strs Ohio purchased a new stake in shares of Hanover Bancorp during the 3rd quarter valued at about $36,000. JPMorgan Chase & Co. purchased a new stake in shares of Hanover Bancorp during the 2nd quarter valued at about $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Hanover Bancorp during the 2nd quarter valued at about $59,000. Institutional investors own 15.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Piper Sandler dropped their target price 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. Weiss Ratings upgraded shares of Hanover Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, Zacks Research cut shares of Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.33.

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.