Insider Selling: Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells 2,272 Shares of Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,272 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $26.68, for a total value of $60,616.96. Following the completion of the transaction, the director now owns 30,420 shares of the company’s stock, valued at $811,605.60. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $26.58, for a total value of $66,450.00.
• 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 Stock Performance

Hanover Bancorp stock opened at $26.77 on Wednesday. The company has a market cap of $191.41 million, a price-to-earnings ratio of 16.13 and a beta of -0.02. Hanover Bancorp, Inc. has a 12 month low of $13.62 and a 12 month 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 stock’s 50-day moving average is $24.34 and its 200-day moving average is $20.73.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings results 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%. Equities analysts anticipate that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be issued 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 1.49%. Hanover Bancorp’s payout ratio is 24.10%.

Institutional Trading of Hanover Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of Hanover Bancorp during the second quarter worth about $170,000. Geode Capital Management LLC lifted its position 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 acquiring an additional 13,803 shares in the last quarter. Finally, Fourthstone LLC purchased a new position in Hanover Bancorp in the 3rd quarter worth approximately $877,000. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on HNVR. Stephens lowered shares of Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler upped their price objective on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

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.