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Piper Sandler Raises Hanover Bancorp (NASDAQ:HNVR) Price Target to $22.00

Hanover Bancorp logo with Finance background

Hanover Bancorp (NASDAQ:HNVR - Free Report) had its price target raised by Piper Sandler from $20.00 to $22.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Hanover Bancorp Price Performance

Hanover Bancorp stock traded up $0.02 during mid-day trading on Thursday, hitting $19.24. 13,356 shares of the company traded hands, compared to its average volume of 5,787. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03. Hanover Bancorp has a one year low of $13.62 and a one year high of $21.50. The stock has a market cap of $139.47 million, a price-to-earnings ratio of 9.82 and a beta of -0.23. The stock has a fifty day moving average price of $18.29 and a 200-day moving average price of $17.07.

Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.34). Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. The firm had revenue of $37.04 million during the quarter, compared to the consensus estimate of $16.30 million. On average, equities analysts predict that Hanover Bancorp will post 1.56 earnings per share for the current fiscal year.

Institutional Trading of Hanover Bancorp

An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC acquired a new stake in Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 10,300 shares of the company's stock, valued at approximately $170,000. Renaissance Technologies LLC owned approximately 0.14% of Hanover Bancorp as of its most recent filing with the SEC. Institutional investors own 15.02% of the company's stock.

About Hanover Bancorp

(Get Free Report)

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.

Further Reading

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