Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells $66,450.00 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $26.58, for a total transaction of $66,450.00. Following the transaction, the director now owns 27,920 shares of the company’s stock, valued at approximately $742,113.60. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, February 5th, Robert Golden sold 2,761 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.61, for a total value of $73,470.21.
• 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 value 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 Stock Down 0.3 %

NASDAQ:HNVR opened at $26.34 on Friday. 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 current ratio of 1.03 and a quick ratio of 1.02. The company has a market cap of $188.33 million, a PE ratio of 15.87 and a beta of -0.02. The firm’s 50 day simple moving average is $24.41 and its 200 day simple moving average is $20.80.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings data 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%. On average, research analysts anticipate that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, February 12th. Hanover Bancorp’s dividend payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

HNVR has been the subject of a number of research reports. Stephens cut Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th. Piper Sandler increased their target price on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

Institutional Trading of Hanover Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings 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 purchasing an additional 13,803 shares during the last quarter. Fourthstone LLC bought a new position in Hanover Bancorp during the third quarter worth $877,000. Finally, Renaissance Technologies LLC bought a new position in Hanover Bancorp during the second quarter worth $170,000. 15.02% of the stock is currently owned by institutional investors.

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.