Robert Golden Sells 2,500 Shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) Director Robert Golden sold 2,500 shares of the firm's stock in a transaction on 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 owns 27,920 shares of the company's stock, valued at approximately $742,113.60. This represents a 8.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, February 5th, Robert Golden sold 2,761 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.61, for a total value of $73,470.21.
• On Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The stock was 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 transaction of $63,750.00.

Hanover Bancorp Trading Down 0.3 %

Hanover Bancorp stock traded down $0.07 during midday trading on Thursday, reaching $26.34. The stock had a trading volume of 9,411 shares, compared to its average volume of 14,738. The stock has a market capitalization of $188.33 million, a PE ratio of 15.87 and a beta of -0.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. The stock's 50-day simple moving average is $24.41 and its 200 day simple moving average is $20.80. Hanover Bancorp, Inc. has a twelve month low of $13.62 and a twelve month high of $27.14.

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

Hanover Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%. Hanover Bancorp's dividend payout ratio (DPR) is 24.10%.

Institutional Investors Weigh In On Hanover Bancorp

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Hanover Bancorp in the 2nd quarter worth approximately $170,000. Geode Capital Management LLC lifted its position in shares of Hanover Bancorp by 46.5% during the third 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 in the last quarter. Finally, Fourthstone LLC purchased a new position in shares of Hanover Bancorp in the third quarter valued at $877,000. Institutional investors and hedge funds own 15.02% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on HNVR. Stephens lowered Hanover Bancorp from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th. Piper Sandler raised their target price on shares of Hanover Bancorp from $20.00 to $22.00 and gave the stock an "overweight" rating in a research 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.