Hanover Bancorp (NASDAQ:HNVR) Price Target Raised to $22.00

Hanover Bancorp (NASDAQ:HNVR) had its price objective hoisted by Piper Sandler from $20.00 to $22.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 14.46% from the stock’s previous close.

Hanover Bancorp Trading Down 0.9 %

Hanover Bancorp stock traded down $0.17 during trading on Thursday, reaching $19.22. The company had a trading volume of 6,648 shares, compared to its average volume of 5,748. Hanover Bancorp has a 12-month low of $13.62 and a 12-month high of $21.50. The stock’s 50 day moving average price is $18.26 and its two-hundred day moving average price is $17.06. The firm has a market capitalization of $139.33 million, a price-to-earnings ratio of 9.81 and a beta of -0.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03.

Hanover Bancorp (NASDAQ:HNVR) last announced its earnings results on Wednesday, July 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.34). Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. The firm had revenue of $37.04 million during the quarter, compared to analysts’ expectations of $16.30 million. As a group, equities analysts expect that Hanover Bancorp will post 1.56 earnings per share for the current fiscal year.

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 position in Hanover Bancorp, Inc. (NASDAQ:HNVR) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned 0.14% of Hanover Bancorp at the end of the most recent reporting period. Institutional investors 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.