Hanover Bancorp (NASDAQ:HNVR) Director Robert Golden Sells 5,000 Shares of Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $21.25, for a total value of $106,250.00. Following the completion of the transaction, the director directly owned 80,769 shares in the company, valued at $1,716,341.25. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Hanover Bancorp Stock Performance

Shares of NASDAQ HNVR opened at $22.05 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Hanover Bancorp, Inc. has a 12-month low of $18.31 and a 12-month high of $27.14. The firm has a market capitalization of $159.20 million, a price-to-earnings ratio of 14.51 and a beta of 0.06. The firm has a 50 day moving average of $22.03 and a 200 day moving average of $22.16.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Thursday, September 4th. The company reported $0.33 earnings per share (EPS) for the quarter. Hanover Bancorp had a net margin of 7.82% and a return on equity of 7.24%. The business had revenue of $18.36 million during the quarter. On average, research analysts anticipate that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.8%. Hanover Bancorp’s payout ratio is presently 26.32%.

Institutional Trading of Hanover Bancorp

Several large investors have recently modified their holdings of the business. American Century Companies Inc. acquired a new stake in Hanover Bancorp during the first quarter worth about $214,000. Jane Street Group LLC increased its stake in Hanover Bancorp by 97.5% during the 1st quarter. Jane Street Group LLC now owns 21,292 shares of the company’s stock worth $467,000 after buying an additional 10,511 shares during the period. Acadian Asset Management LLC boosted its holdings in Hanover Bancorp by 298.4% in the first quarter. Acadian Asset Management LLC now owns 9,398 shares of the company’s stock valued at $205,000 after purchasing an additional 7,039 shares during the last quarter. New York State Common Retirement Fund bought a new stake in shares of Hanover Bancorp in the second quarter worth $108,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Hanover Bancorp in the second quarter worth about $59,000. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HNVR has been the subject of several analyst reports. Hovde Group began coverage on shares of Hanover Bancorp in a research report on Wednesday, August 13th. They set a “market perform” rating and a $24.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hanover Bancorp in a report on Wednesday, October 8th. Stephens lowered their price objective on Hanover Bancorp from $23.50 to $22.50 and set an “equal weight” rating on the stock in a report on Tuesday, July 29th. Piper Sandler dropped their target price on Hanover Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Finally, Zacks Research upgraded Hanover Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.83.

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.