Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells $66,450.00 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $26.58, for a total transaction of $66,450.00. Following the transaction, the director now directly owns 27,920 shares in the company, valued at $742,113.60. The trade was a 8.22 % 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 Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.68, for a total transaction of $60,616.96.
• 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 transaction of $63,750.00.

Hanover Bancorp Trading Up 0.4 %

NASDAQ:HNVR traded up $0.11 during midday trading on Tuesday, reaching $26.91. 4,574 shares of the stock traded hands, compared to its average volume of 14,812. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. Hanover Bancorp, Inc. has a 12 month low of $13.62 and a 12 month high of $27.14. The stock has a market capitalization of $192.41 million, a P/E ratio of 16.08 and a beta of -0.02. The company has a fifty day moving average of $24.29 and a 200 day moving average of $20.66.

Hanover Bancorp (NASDAQ:HNVR) last released its earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share 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, research analysts predict that Hanover Bancorp, Inc. will post 2.38 EPS for the current year.

Hanover Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, February 12th. Hanover Bancorp’s dividend payout ratio (DPR) is 24.10%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Stephens cut 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 and other institutional investors have recently bought and sold shares of HNVR. Fourthstone LLC bought a new position in Hanover Bancorp during the 3rd quarter valued at about $877,000. Geode Capital Management LLC lifted its stake in Hanover Bancorp by 46.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock valued at $779,000 after acquiring an additional 13,803 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Hanover Bancorp during the 2nd quarter valued at about $170,000. 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.