Hanover Bancorp (NASDAQ:HNVR) Announces Earnings Results

Hanover Bancorp (NASDAQ:HNVR) released its earnings results on Wednesday. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03, Zacks reports. Hanover Bancorp had a return on equity of 6.77% and a net margin of 8.39%.

Hanover Bancorp Trading Up 1.0 %

NASDAQ:HNVR opened at $26.55 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Hanover Bancorp has a 1-year low of $13.62 and a 1-year high of $27.14. The firm has a market capitalization of $189.83 million, a price-to-earnings ratio of 16.09 and a beta of -0.04. The business’s 50-day moving average price is $24.11 and its two-hundred day moving average price is $20.44.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HNVR shares. Piper Sandler raised their target price on shares of Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Stephens cut shares of Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

Insider Transactions at Hanover Bancorp

In other news, Director Robert Golden sold 2,500 shares of Hanover Bancorp stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $25.50, for a total transaction of $63,750.00. Following the transaction, the director now directly owns 28,345 shares of the company’s stock, valued at $722,797.50. This trade represents a 8.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 24.76% 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.