Hanover Bancorp (NASDAQ:HNVR) Director Sells $51,482.61 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,259 shares of Hanover Bancorp stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $22.79, for a total transaction of $51,482.61. Following the completion of the transaction, the director directly owned 34,009 shares of the company’s stock, valued at approximately $775,065.11. This represents a 6.23% decrease in their position. The transaction was disclosed in a document filed 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 transaction of $23,286.12.

Hanover Bancorp Stock Performance

Hanover Bancorp stock opened at $23.39 on Friday. The company has a market cap of $167.47 million, a PE ratio of 22.28 and a beta of 0.12. The company has a fifty day moving average price of $22.20 and a two-hundred day moving average price of $22.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 1.05. Hanover Bancorp, Inc. has a 12 month low of $19.91 and a 12 month high of $24.49.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings data on Monday, April 27th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $19.11 million during 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued 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 was Monday, May 11th. Hanover Bancorp’s payout ratio is currently 38.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Piper Sandler reduced their price target 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. Zacks Research downgraded shares of Hanover Bancorp from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Weiss Ratings raised shares of 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.33.

Hedge Funds Weigh In On Hanover Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Hanover Bancorp by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 31,643 shares of the company’s stock valued at $683,000 after acquiring an additional 554 shares during the period. Barclays PLC lifted its holdings in Hanover Bancorp by 19.9% in the fourth quarter. Barclays PLC now owns 10,669 shares of the company’s stock worth $247,000 after purchasing an additional 1,769 shares during the period. Fourthstone LLC lifted its holdings in Hanover Bancorp by 22.6% in the fourth quarter. Fourthstone LLC now owns 516,702 shares of the company’s stock worth $11,941,000 after purchasing an additional 95,194 shares during the period. GM Advisory Group LLC acquired a new stake in Hanover Bancorp in the fourth quarter worth about $430,000. Finally, Wells Fargo & Company MN lifted its holdings in Hanover Bancorp by 59.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,531 shares of the company’s stock worth $128,000 after purchasing an additional 2,072 shares during the period. Institutional investors and hedge funds 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.