Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 7,400 shares, a decline of 6.3% from the September 30th total of 7,900 shares. Based on an average daily volume of 4,900 shares, the short-interest ratio is currently 1.5 days. Currently, 0.2% of the shares of the company are short sold.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC bought a new stake in Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,300 shares of the company's stock, valued at approximately $170,000. Renaissance Technologies LLC owned 0.14% of Hanover Bancorp as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 15.02% of the company's stock.
Wall Street Analyst Weigh In
Separately, 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.
View Our Latest Report on HNVR
Hanover Bancorp Stock Performance
Shares of HNVR traded up $0.11 during mid-day trading on Thursday, hitting $19.99. 8,862 shares of the company's stock were exchanged, compared to its average volume of 6,107. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Hanover Bancorp has a fifty-two week low of $13.62 and a fifty-two week high of $21.50. The business's 50 day moving average is $18.43 and its two-hundred day moving average is $17.23. The firm has a market capitalization of $144.91 million, a P/E ratio of 10.16 and a beta of -0.23.
Hanover Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. Hanover Bancorp's payout ratio is 20.41%.
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.
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