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 Hanover Bancorp stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $26.58, for a total transaction of $66,450.00. Following the sale, the director now directly owns 27,920 shares of the company’s stock, valued at approximately $742,113.60. This trade represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

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

Hanover Bancorp Price Performance

Shares of NASDAQ:HNVR opened at $26.77 on Wednesday. Hanover Bancorp, Inc. has a 12 month low of $13.62 and a 12 month high of $27.14. The firm has a market capitalization of $191.41 million, a P/E ratio of 16.13 and a beta of -0.02. 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’s fifty day moving average price is $24.34 and its 200 day moving average price is $20.73.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, January 29th. The company reported $0.52 EPS for the quarter, topping 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, sell-side analysts predict that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current fiscal year.

Hanover Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.10 per share. 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 dividend payout ratio (DPR) is 24.10%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Hanover Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNVR. Renaissance Technologies LLC purchased a new position in shares of Hanover Bancorp during the second quarter worth approximately $170,000. Geode Capital Management LLC boosted its stake 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 period. Finally, Fourthstone LLC purchased a new position in Hanover Bancorp during the 3rd quarter worth $877,000. Hedge funds and other 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.