Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells $73,470.21 in Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) Director Robert Golden sold 2,761 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $26.61, for a total transaction of $73,470.21. Following the completion of the transaction, the director now directly owns 2,239 shares in the company, valued at approximately $59,579.79. The trade was a 55.22 % decrease in their position. The transaction was disclosed in a document filed 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 stock was sold at an average price of $26.58, for a total value of $66,450.00.
• 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 transaction 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 transaction of $63,750.00.

Hanover Bancorp Price Performance

NASDAQ HNVR traded up $0.30 on Monday, reaching $26.06. 11,707 shares of the company's stock traded hands, compared to its average volume of 14,508. The stock has a market cap of $186.33 million, a PE ratio of 15.70 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 stock has a 50-day simple moving average of $24.44 and a 200 day simple moving average of $20.97. 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 announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.03. Hanover Bancorp had a net margin of 8.32% and a return on equity of 6.71%. As a group, research analysts predict that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current year.

Hanover Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.53%. Hanover Bancorp's dividend payout ratio is currently 24.10%.

Institutional Investors Weigh In On Hanover Bancorp

Several institutional investors have recently bought and sold shares of HNVR. Renaissance Technologies LLC purchased a new position in Hanover Bancorp in the 2nd quarter worth approximately $170,000. Fourthstone LLC purchased a new position in shares of Hanover Bancorp in the third quarter worth $877,000. Finally, Geode Capital Management LLC increased its stake in shares of Hanover Bancorp by 46.5% in the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company's stock worth $779,000 after buying an additional 13,803 shares during the period. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stephens downgraded shares of Hanover Bancorp from an "overweight" rating to an "equal weight" rating in a 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.