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 stock was sold at an average price of $26.61, for a total value of $73,470.21. Following the sale, the director now owns 2,239 shares of the company’s stock, valued at approximately $59,579.79. The trade was a 55.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $26.58, for a total value of $66,450.00.
• On Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The shares were 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 value of $63,750.00.

Hanover Bancorp Stock Down 0.3 %

NASDAQ:HNVR opened at $26.34 on Friday. Hanover Bancorp, Inc. has a 1 year low of $13.62 and a 1 year high of $27.14. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a market cap of $188.33 million, a price-to-earnings ratio of 15.87 and a beta of -0.02. The stock has a 50-day moving average price of $24.41 and a two-hundred day moving average price of $20.80.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share (EPS) 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%. As a group, equities analysts expect that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.52%. Hanover Bancorp’s dividend payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

HNVR has been the subject of a number of recent analyst reports. Piper Sandler upped 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. Stephens downgraded Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HNVR. Renaissance Technologies LLC acquired a new position in Hanover Bancorp during the second quarter valued at approximately $170,000. Geode Capital Management LLC raised its stake in Hanover Bancorp by 46.5% in the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock valued at $779,000 after buying an additional 13,803 shares during the period. Finally, Fourthstone LLC bought a new position in shares of Hanover Bancorp during the third quarter worth approximately $877,000. 15.02% of the stock is owned by institutional investors and hedge funds.

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.