Hanover Bancorp (NASDAQ:HNVR) Director Robert Golden Sells 1,295 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 1,295 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $23.53, for a total value of $30,471.35. Following the transaction, the director owned 31,702 shares in the company, valued at $745,948.06. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 20th, Robert Golden sold 1,012 shares of Hanover Bancorp stock. The stock was sold at an average price of $23.01, for a total value of $23,286.12.
• 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 value of $51,482.61.

Hanover Bancorp Trading Down 0.9%

NASDAQ:HNVR traded down $0.21 during trading hours on Friday, reaching $23.50. 99,346 shares of the stock were exchanged, compared to its average volume of 18,419. 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 business has a 50-day moving average of $22.41 and a two-hundred day moving average of $22.57. Hanover Bancorp, Inc. has a twelve month low of $19.91 and a twelve month high of $24.49. The company has a market capitalization of $168.27 million, a price-to-earnings ratio of 22.38 and a beta of 0.12.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings results on Monday, April 27th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Hanover Bancorp had a return on equity of 5.09% and a net margin of 5.53%.The company had revenue of $19.11 million for the quarter, compared to analysts’ expectations of $19.50 million.

Hanover Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.7%. Hanover Bancorp’s dividend payout ratio is currently 38.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HNVR. Piper Sandler cut their price objective on Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Zacks Research lowered Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Weiss Ratings raised Hanover Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.33.

Hedge Funds Weigh In On Hanover Bancorp

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in Hanover Bancorp by 219.9% in the third quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company’s stock valued at $29,000 after buying an additional 886 shares during the last quarter. Bank of America Corp DE increased its holdings in 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 valued at $33,000 after buying an additional 1,423 shares during the last quarter. Strs Ohio purchased a new position in Hanover Bancorp in the third quarter valued at $36,000. JPMorgan Chase & Co. purchased a new position in Hanover Bancorp in the second quarter valued at $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Hanover Bancorp in the second quarter valued at $59,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

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.