Hanover Bancorp, Inc. (NASDAQ:HNVR) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its holdings in Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 521,973 shares of the company's stock after selling 44,468 shares during the period. Alliancebernstein L.P. owned about 7.30% of Hanover Bancorp worth $12,034,000 as of its most recent SEC filing.

Separately, Geode Capital Management LLC raised its position 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 purchasing an additional 13,803 shares during the period. Institutional investors and hedge funds own 15.02% of the company's stock.

Insider Activity at Hanover Bancorp

In other Hanover Bancorp news, Director Robert Golden sold 2,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $26.58, for a total value of $66,450.00. Following the completion of the transaction, the director now directly owns 27,920 shares of the company's stock, valued at $742,113.60. This represents a 8.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 7,533 shares of company stock valued at $200,537. Corporate insiders own 24.76% of the company's stock.

Hanover Bancorp Stock Up 0.6 %

Shares of HNVR traded up $0.11 during midday trading on Tuesday, reaching $19.66. 9,380 shares of the company were exchanged, compared to its average volume of 12,182. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Hanover Bancorp, Inc. has a 1-year low of $13.62 and a 1-year high of $27.14. The company has a market cap of $141.57 million, a price-to-earnings ratio of 11.82 and a beta of 0.11. The stock has a 50-day moving average price of $22.78 and a 200-day moving average price of $22.55.

Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share 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%. Research analysts expect that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.10 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. Hanover Bancorp's dividend payout ratio (DPR) is presently 24.10%.

Hanover Bancorp 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.