Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden Sells 2,761 Shares of Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,761 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $26.61, for a total value of $73,470.21. Following the sale, the director now directly owns 2,239 shares of the company’s stock, valued at $59,579.79. This trade represents a 55.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, February 3rd, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.58, for a total value of $66,450.00.
• On Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The stock was sold at an average price of $26.68, for a total value of $60,616.96.
• On Tuesday, December 10th, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $25.50, for a total value of $63,750.00.

Hanover Bancorp Price Performance

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. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $188.33 million, a PE ratio of 15.87 and a beta of -0.02. Hanover Bancorp, Inc. has a 1-year low of $13.62 and a 1-year high of $27.14.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. Sell-side analysts predict that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Announces Dividend

The firm 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Wednesday, February 12th. Hanover Bancorp’s dividend payout ratio is currently 24.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HNVR shares. Piper Sandler lifted their price objective 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 Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

Hedge Funds Weigh In On Hanover Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of HNVR. Renaissance Technologies LLC acquired a new position in Hanover Bancorp in the second quarter worth $170,000. Geode Capital Management LLC boosted its stake 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 in the last quarter. Finally, Fourthstone LLC acquired a new position in Hanover Bancorp in the third quarter worth $877,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

Hanover Bancorp Company Profile

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.