Hanover Bancorp, Inc. (NASDAQ:HNVR) Short Interest Update

Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 40,500 shares, a drop of 22.1% from the February 28th total of 52,000 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 15,400 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analyst Weigh In

Separately, Stephens cut Hanover Bancorp from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 9th.

Insider Buying and Selling at Hanover Bancorp

In other Hanover Bancorp news, Director Robert Golden sold 2,272 shares of the company's stock in a transaction dated 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 in the company, valued at $811,605.60. This represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 7,533 shares of company stock worth $200,537 over the last 90 days. Insiders own 24.76% of the company's stock.

Hedge Funds Weigh In On Hanover Bancorp

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Hanover Bancorp during the 4th quarter worth approximately $29,000. Citadel Advisors LLC bought a new position in Hanover Bancorp in the fourth quarter worth $209,000. Jane Street Group LLC acquired a new stake in Hanover Bancorp during the fourth quarter worth $249,000. 683 Capital Management LLC bought a new stake in Hanover Bancorp in the 4th quarter valued at $335,000. Finally, Millennium Management LLC acquired a new position in shares of Hanover Bancorp in the 4th quarter valued at $373,000. Institutional investors and hedge funds own 15.02% of the company's stock.

Hanover Bancorp Stock Performance

Shares of Hanover Bancorp stock traded down $0.23 during midday trading on Friday, hitting $19.38. The company had a trading volume of 13,891 shares, compared to its average volume of 11,877. Hanover Bancorp has a 1-year low of $13.62 and a 1-year high of $27.14. The business's 50 day simple moving average is $24.01 and its two-hundred day simple moving average is $22.44. The stock has a market cap of $139.56 million, a PE ratio of 11.67 and a beta of 0.02. 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 issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share 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, equities analysts predict that Hanover Bancorp will post 2.38 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, February 12th. Hanover Bancorp's dividend payout ratio (DPR) is presently 24.10%.

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.