Banc Funds Co. LLC Sells 20,000 Shares of Hanover Bancorp, Inc. (NASDAQ:HNVR)

Banc Funds Co. LLC decreased its holdings in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,440 shares of the company's stock after selling 20,000 shares during the quarter. Banc Funds Co. LLC owned approximately 2.92% of Hanover Bancorp worth $4,807,000 at the end of the most recent reporting period.

Separately, Russell Investments Group Ltd. bought a new stake in shares of Hanover Bancorp during the 4th quarter worth about $29,000. 15.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hanover Bancorp news, 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 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. The trade was a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 7,533 shares of company stock worth $200,537. Corporate insiders own 24.76% of the company's stock.

Hanover Bancorp Stock Performance

Hanover Bancorp stock traded up $0.42 during trading hours on Tuesday, hitting $20.85. The company had a trading volume of 18,832 shares, compared to its average volume of 12,708. Hanover Bancorp, Inc. has a one year low of $15.17 and a one year high of $27.14. The firm has a market cap of $150.10 million, a PE ratio of 12.65 and a beta of 0.11. The firm has a 50-day moving average of $22.23 and a 200 day moving average of $22.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02.

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 (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts expect that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. Hanover Bancorp's payout ratio is presently 24.10%.

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.