Hanover Bancorp (HNVR) Stock Price, News & Analysis

Company Overview

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. It also provides business loans, commercial real estate financing, small business administration, lending directory services, and residential mortgage. In addition, the company offers cash management, online and mobile banking, merchant services, and digital solutions. Its banking offices are located in Nassau, Suffolk, Queens, Kings, New York Counties, New York, Monmouth County, Freehold, and New Jersey. The company was founded in 2008 and is headquartered in Mineola, New York.

Key Stats

• Today's Range: $23.48 to $25.25
• 50-Day Range: $18.76 to $25.85
• 52-Week Range: $13.62 to $27.14
• Volume: 40,778 shs
• Average Volume: 9,868 shs
• Market Capitalization: $169.81 million
• P/E Ratio: 14.39
• Dividend Yield: 1.68%
• Price Target: $22.00
• Consensus Rating: Moderate Buy

Hanover Bancorp Stock Analysis - MarketRank™

Hanover Bancorp scored higher than 72% of companies evaluated by MarketBeat, and ranked 266th out of 935 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Hanover Bancorp has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Hanover Bancorp has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.8 / 5
• Proj. Earnings Growth: 45.12%

Earnings Growth

Earnings for Hanover Bancorp are expected to grow by 45.12% in the coming year, from $1.64 to $2.38 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Hanover Bancorp is 14.39, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 113.29.

Price to Earnings Ratio vs. Sector

The P/E ratio of Hanover Bancorp is 14.39, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 26.71.

Price to Book Value per Share Ratio

Hanover Bancorp has a P/B Ratio of 0.97. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.12% of the float of Hanover Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Hanover Bancorp has a short interest ratio ("days to cover") of 0.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Hanover Bancorp has recently decreased by 17.24%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Hanover Bancorp pays a meaningful dividend of 1.55%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Hanover Bancorp does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Hanover Bancorp is 24.24%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Hanover Bancorp will have a dividend payout ratio of 16.81% next year. This indicates that Hanover Bancorp will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.12% of the float of Hanover Bancorp has been sold short.

Short Interest Ratio / Days to Cover

Hanover Bancorp has a short interest ratio ("days to cover") of 0.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Hanover Bancorp has recently decreased by 17.24%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 0.6 / 5
• News Sentiment: N/A

Search Interest

1 people have searched for HNVR on MarketBeat in the last 30 days.

Company Ownership

• Score: 3.3 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Hanover Bancorp insiders have sold 1,162.88% more of their company's stock than they have bought. Specifically, they have bought $5,048.00 in company stock and sold $63,750.00 in company stock.

Percentage Held by Insiders

24.76% of the stock of Hanover Bancorp is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

Only 15.02% of the stock of Hanover Bancorp is held by institutions.

HNVR Stock Analysis - Frequently Asked Questions

How have HNVR shares performed this year?

Hanover Bancorp's stock was trading at $17.64 at the beginning of 2024. Since then, HNVR shares have increased by 34.6% and is now trading at $23.74.
View the best growth stocks for 2024 here.

How were Hanover Bancorp's earnings last quarter?

Hanover Bancorp, Inc. (NASDAQ:HNVR) announced its earnings results on Wednesday, July, 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.45 by $0.34. The business had revenue of $37.04 million for the quarter, compared to analyst estimates of $16.30 million. Hanover Bancorp had a trailing twelve-month return on equity of 6.77% and a net margin of 8.39%.

When did Hanover Bancorp IPO?

Hanover Bancorp (HNVR) raised $30 million in an initial public offering (IPO) on Wednesday, May 11th 2022. The company issued 1,363,636 shares at $21.00-$23.00 per share.

Who are Hanover Bancorp's major shareholders?

Top institutional investors of Hanover Bancorp include Fourthstone LLC (0.69%) and Geode Capital Management LLC (0.61%). Insiders that own company stock include Michael P Puorro, Michael David MD Katz, Elena Sisti, Mcclelland W Wilcox, Philip A Okun, Robert Golden, Lance P Burke and John P Vivona.
View institutional ownership trends.

How do I buy shares of Hanover Bancorp?

Shares of HNVR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Hanover Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Hanover Bancorp investors own include Broadcom (AVGO), NVIDIA (NVDA), Arista Networks (ANET), Meta Platforms (META), Adobe (ADBE), General Electric (GE) and Jabil (JBL).

Company Calendar

• Last Earnings: 7/24/2024
• Ex-Dividend for 11/13 Dividend: 11/06/2024
• Dividend Payable: 11/13/2024
• Today: 12/21/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Banking
• Current Symbol: NASDAQ:HNVR
• CUSIP: N/A
• CIK: 1828588
• Web: www.hanoverbank.com
• Phone: 516-548-8500
• Fax: N/A
• Employees: 160
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $22.00
• High Stock Price Target: $22.00
• Low Stock Price Target: $22.00
• Potential Upside/Downside: -7.3%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.50
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.65
• Trailing P/E Ratio: 14.39
• Forward P/E Ratio: 14.48
• P/E Growth: N/A
• Net Income: $3.52 million
• Net Margins: 8.39%
• Pretax Margin: N/A
• Return on Equity: 6.77%
• Return on Assets: 0.54%

Debt

• Debt-to-Equity Ratio: 0.13
• Current Ratio: 1.03
• Quick Ratio: 1.02

Sales & Book Value

• Annual Sales: $62.58 million
• Price / Sales: 2.71
• Cash Flow: $1.86 per share
• Price / Cash Flow: 12.79
• Book Value: $24.44 per share
• Price / Book: 0.97

Miscellaneous

• Outstanding Shares: 7,153,000
• Free Float: 5,382,000
• Market Cap: $169.81 million
• Optionable: Not Optionable
• Beta: -0.09