Hanover Bancorp, Inc. (NASDAQ:HNVR) Short Interest Update

Hanover Bancorp, Inc. (NASDAQ:HNVR) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 7,400 shares, a drop of 6.3% from the September 30th total of 7,900 shares. Based on an average daily volume of 4,900 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.2% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Institutional Investors Weigh In On Hanover Bancorp

A hedge fund recently bought a new stake in Hanover Bancorp stock. Renaissance Technologies LLC purchased a new stake in Hanover Bancorp, Inc. (NASDAQ:HNVR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned approximately 0.14% of Hanover Bancorp at the end of the most recent reporting period. Institutional investors and hedge funds own 15.02% of the company’s stock.

Hanover Bancorp Stock Performance

Shares of NASDAQ HNVR traded up $0.63 during midday trading on Thursday, reaching $19.88. 41,839 shares of the company were exchanged, compared to its average volume of 6,093. The stock has a market cap of $144.11 million, a P/E ratio of 10.14 and a beta of -0.23. Hanover Bancorp has a 1 year low of $13.62 and a 1 year high of $21.50. The stock has a fifty day simple moving average of $18.43 and a 200 day simple moving average of $17.23. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, November 6th. Hanover Bancorp’s payout ratio is currently 20.41%.

About Hanover Bancorp

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.