Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Acquires $33,900.00 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Elena Sisti bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average price of $16.95 per share, with a total value of $33,900.00. Following the purchase, the director now owns 101,878 shares in the company, valued at $1,726,832.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hanover Bancorp Stock Down 2.1 %

NASDAQ HNVR opened at $16.42 on Friday. Hanover Bancorp, Inc. has a twelve month low of $13.62 and a twelve month high of $18.91. The stock has a market cap of $118.72 million, a PE ratio of 8.38 and a beta of -0.14. The firm has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $17.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 1.08.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Wednesday, April 17th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.19. The company had revenue of $16.51 million during the quarter, compared to the consensus estimate of $15.60 million. Hanover Bancorp had a return on equity of 7.69% and a net margin of 10.82%. On average, research analysts forecast that Hanover Bancorp, Inc. will post 2.04 EPS for the current year.

Hanover Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Tuesday, May 7th. Hanover Bancorp’s dividend payout ratio (DPR) is presently 20.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HNVR. Piper Sandler upped their price target on Hanover Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. TheStreet upgraded shares of Hanover Bancorp from a “d+” rating to a “c-” rating in a research note on Wednesday, January 3rd.

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.