Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden Sells 2,761 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,761 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $26.61, for a total value of $73,470.21. Following the completion of the transaction, the director now owns 2,239 shares of the company’s stock, valued at $59,579.79. This represents a 55.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Robert Golden also recently made the following trade(s):

• On Monday, February 3rd, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.58, for a total value of $66,450.00.
• On Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.68, for a total value of $60,616.96.
• On Tuesday, December 10th, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $25.50, for a total value of $63,750.00.

Hanover Bancorp Trading Down 0.3 %

Shares of HNVR stock traded down $0.07 on Thursday, reaching $26.34. 9,411 shares of the company’s stock were exchanged, compared to its average volume of 14,732. Hanover Bancorp, Inc. has a 52 week low of $13.62 and a 52 week high of $27.14. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $188.33 million, a PE ratio of 15.87 and a beta of -0.02. The company’s fifty day simple moving average is $24.38 and its 200 day simple moving average is $20.77.

Hanover Bancorp (NASDAQ:HNVR) last issued its earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. As a group, analysts forecast that Hanover Bancorp, Inc. will post 2.38 EPS for the current year.

Hanover Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.40 annualized dividend and a yield of 1.52%. Hanover Bancorp’s dividend payout ratio (DPR) is 24.10%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNVR. Renaissance Technologies LLC acquired a new stake in Hanover Bancorp during the 2nd quarter worth about $170,000. Geode Capital Management LLC lifted its position in Hanover Bancorp by 46.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock worth $779,000 after acquiring an additional 13,803 shares during the period. Finally, Fourthstone LLC acquired a new stake in Hanover Bancorp during the 3rd quarter worth about $877,000. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on HNVR. Stephens cut Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler increased their target price on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th.

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.