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

Hanover Bancorp, Inc. (NASDAQ:HNVR) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 53,100 shares, a growth of 742.9% from the December 31st total of 6,300 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 2.4 days.

Insider Buying and Selling

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

Institutional Investors Weigh In On Hanover Bancorp

A number of hedge funds have recently added to or reduced their stakes in HNVR. Fourthstone LLC acquired a new position in shares of Hanover Bancorp during the third quarter worth approximately $877,000. Geode Capital Management LLC raised its position in Hanover Bancorp by 46.5% in the 3rd quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock worth $779,000 after purchasing an additional 13,803 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Hanover Bancorp during the 2nd quarter worth $170,000. Institutional investors own 15.02% of the company’s stock.

Hanover Bancorp Price Performance

Shares of HNVR stock opened at $26.30 on Wednesday. Hanover Bancorp has a 52 week low of $13.62 and a 52 week high of $27.14. The stock has a market capitalization of $188.12 million, a PE ratio of 15.94 and a beta of -0.04. 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 stock’s fifty day moving average is $24.03 and its 200-day moving average is $20.39.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HNVR. Stephens cut shares of Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler raised their price objective on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a 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.