Hanover Bancorp (NASDAQ:HNVR) PT Raised to $22.00

Hanover Bancorp (NASDAQ:HNVR) had its price objective hoisted by Piper Sandler from $20.00 to $22.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Hanover Bancorp Stock Up 0.1 %

NASDAQ:HNVR traded up $0.02 on Thursday, hitting $19.24. The stock had a trading volume of 13,356 shares, compared to its average volume of 5,787. Hanover Bancorp has a 1 year low of $13.62 and a 1 year high of $21.50. The firm’s fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $17.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a market cap of $139.47 million, a P/E ratio of 9.82 and a beta of -0.23.

Hanover Bancorp (NASDAQ:HNVR) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.34). The business had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $16.30 million. Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. Analysts predict that Hanover Bancorp will post 1.56 earnings per share for the current year.

Hanover Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, November 6th. Hanover Bancorp’s dividend payout ratio is presently 20.41%.

Hedge Funds Weigh In On Hanover Bancorp

An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC bought a new stake in Hanover Bancorp, Inc. (NASDAQ:HNVR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned about 0.14% of Hanover Bancorp as of its most recent SEC filing. 15.02% of the stock is currently owned by institutional investors and hedge funds.

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.