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 company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $26.68, for a total value of $60,616.96. Following the sale, the director now owns 30,420 shares of the company’s stock, valued at approximately $811,605.60. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 stock was sold at an average price of $25.50, for a total value of $63,750.00.

Hanover Bancorp Stock Up 0.4 %

NASDAQ HNVR traded up $0.11 during trading hours on Tuesday, hitting $26.91. The company had a trading volume of 4,574 shares, compared to its average volume of 14,812. The firm’s 50 day moving average is $24.29 and its 200 day moving average is $20.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $192.41 million, a price-to-earnings ratio of 16.21 and a beta of -0.02. Hanover Bancorp, Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $27.14.

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

Hanover Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. Hanover Bancorp’s dividend payout ratio is presently 24.10%.

Institutional Trading of Hanover Bancorp

Several large investors have recently modified their holdings of HNVR. Fourthstone LLC acquired a new stake in shares of Hanover Bancorp during the third quarter valued at about $877,000. Geode Capital Management LLC lifted its position in shares of Hanover Bancorp by 46.5% during 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. Finally, Renaissance Technologies LLC bought a new position in shares of Hanover Bancorp during the second quarter worth about $170,000. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HNVR. Piper Sandler increased their price target on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Stephens downgraded Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

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.