Hanover Bancorp (NASDAQ:HNVR) Trading Down 0.8% - Time to Sell?

Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) fell 0.8% during trading on Tuesday . The stock traded as low as $21.93 and last traded at $22.64. 9,125 shares changed hands during trading, a decline of 21% from the average session volume of 11,535 shares. The stock had previously closed at $22.82.

Wall Street Analyst Weigh In

Separately, Stephens lowered shares of Hanover Bancorp from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 9th.

Hanover Bancorp Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $24.34 and its 200 day simple moving average is $22.21. The company has a market capitalization of $162.74 million, a PE ratio of 13.61 and a beta of 0.02.

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, 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 anticipate that Hanover Bancorp, Inc. will post 2.38 EPS for the current fiscal year.

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Hanover Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, February 12th. Hanover Bancorp's dividend payout ratio is currently 24.10%.

Insider Activity

In other news, Director Robert Golden sold 2,272 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $26.68, for a total transaction of $60,616.96. Following the completion of the sale, the director now directly owns 30,420 shares of the company's stock, valued at approximately $811,605.60. The trade was a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 7,533 shares of company stock valued at $200,537. 24.76% of the stock is currently owned by company insiders.

Institutional Trading of Hanover Bancorp

Large investors have recently made changes to their positions in the stock. Fourthstone LLC bought a new stake in shares of Hanover Bancorp in the third quarter valued at about $877,000. Geode Capital Management LLC raised its holdings 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 valued at $779,000 after acquiring an additional 13,803 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Hanover Bancorp in the fourth quarter valued at about $29,000. Northern Trust Corp bought a new stake in shares of Hanover Bancorp in the fourth quarter valued at about $418,000. Finally, Jane Street Group LLC bought a new stake in shares of Hanover Bancorp in the fourth quarter valued at about $249,000. 15.02% of the stock is owned by hedge funds and other institutional investors.

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.