Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden Sells 2,500 Shares

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $26.58, for a total transaction of $66,450.00. Following the completion of the transaction, the director now owns 27,920 shares in the company, valued at approximately $742,113.60. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 stock was sold at an average price of $25.50, for a total transaction of $63,750.00.

Hanover Bancorp Price Performance

Shares of Hanover Bancorp stock traded up $0.11 on Tuesday, reaching $26.91. 4,574 shares of the stock were exchanged, compared to its average volume of 14,812. The firm’s 50 day moving average is $24.29 and its 200-day moving average is $20.66. Hanover Bancorp, Inc. has a one year low of $13.62 and a one year 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 firm has a market cap of $192.41 million, a PE ratio of 16.08 and a beta of -0.02.

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

Hanover Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, February 12th. Hanover Bancorp’s payout ratio is 24.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on HNVR shares. Piper Sandler increased their target price on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Stephens downgraded shares of 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 large investors have recently modified their holdings of the business. Fourthstone LLC bought a new position in shares of Hanover Bancorp during the third quarter valued at $877,000. Geode Capital Management LLC increased its position 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 worth $779,000 after buying an additional 13,803 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Hanover Bancorp in the second quarter worth $170,000. Institutional investors own 15.02% of the company’s stock.

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.