Insider Selling: Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells 2,761 Shares of Stock

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 shares were sold at an average price of $26.61, for a total transaction of $73,470.21. Following the sale, the director now owns 2,239 shares in the company, valued at approximately $59,579.79. This trade represents a 55.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

Hanover Bancorp Trading Down 2.2 %

Shares of NASDAQ HNVR opened at $25.76 on Friday. The firm’s 50 day moving average price is $24.43 and its 200-day moving average price is $20.86. Hanover Bancorp, Inc. has a 52-week low of $13.62 and a 52-week high of $27.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market cap of $184.18 million, a PE ratio of 15.52 and a beta of -0.02.

Hanover Bancorp (NASDAQ:HNVR) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. On average, equities research analysts expect that Hanover Bancorp, Inc. will post 2.38 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 annualized dividend and a yield of 1.55%. Hanover Bancorp’s payout ratio is 24.10%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HNVR shares. Piper Sandler raised their price objective on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Stephens downgraded Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

Hedge Funds Weigh In On Hanover Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of HNVR. Geode Capital Management LLC raised its holdings in shares of Hanover Bancorp by 46.5% during the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock valued at $779,000 after purchasing an additional 13,803 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Hanover Bancorp in the 2nd quarter worth approximately $170,000. Finally, Fourthstone LLC purchased a new stake in Hanover Bancorp during the 3rd quarter valued at $877,000. 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.