Insider Selling: Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells $60,616.96 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,272 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $26.68, for a total transaction of $60,616.96. Following the completion of the sale, the director now owns 30,420 shares of the company’s stock, valued at $811,605.60. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, February 5th, Robert Golden sold 2,761 shares of Hanover Bancorp stock. The stock was sold at an average price of $26.61, for a total transaction of $73,470.21.
• On Monday, February 3rd, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $26.58, for a total value of $66,450.00.
• 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 value of $63,750.00.

Hanover Bancorp Stock Down 0.3 %

Shares of NASDAQ:HNVR opened at $26.34 on Friday. The business’s 50 day moving average is $24.41 and its 200 day moving average is $20.80. Hanover Bancorp, Inc. has a 12-month low of $13.62 and a 12-month high of $27.14. The stock has a market cap of $188.33 million, a price-to-earnings ratio of 15.87 and a beta of -0.02. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.13.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Hanover Bancorp had a net margin of 8.32% and a return on equity of 6.71%. On average, sell-side analysts forecast that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current fiscal year.

Hanover Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 annualized dividend and a yield of 1.52%. Hanover Bancorp’s dividend payout ratio (DPR) is 24.10%.

Wall Street Analysts Forecast Growth

HNVR has been the topic of a number of recent research reports. Piper Sandler increased their target price on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Stephens lowered shares of Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

Hedge Funds Weigh In On Hanover Bancorp

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Hanover Bancorp in the second quarter valued at approximately $170,000. Fourthstone LLC bought a new stake in Hanover Bancorp during the third quarter worth $877,000. Finally, Geode Capital Management LLC boosted its position in Hanover Bancorp by 46.5% in the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock worth $779,000 after purchasing an additional 13,803 shares during the last quarter. Institutional investors own 15.02% of the company’s stock.

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.