Robert Golden Sells 2,761 Shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,761 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $26.61, for a total value of $73,470.21. Following the completion of the sale, the director now owns 2,239 shares of the company’s stock, valued at $59,579.79. The trade was a 55.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Robert Golden also recently made the following trade(s):

• On Monday, February 3rd, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $26.58, for a total transaction of $66,450.00.
• On Friday, January 31st, Robert Golden sold 2,272 shares of Hanover Bancorp stock. The shares were sold at an average price of $26.68, for a total transaction of $60,616.96.
• On Tuesday, December 10th, Robert Golden sold 2,500 shares of Hanover Bancorp stock. The stock was sold at an average price of $25.50, for a total transaction of $63,750.00.

Hanover Bancorp Trading Down 2.2 %

Shares of HNVR opened at $25.76 on Friday. The stock has a market capitalization of $184.18 million, a P/E ratio of 15.52 and a beta of -0.02. Hanover Bancorp, Inc. has a twelve month low of $13.62 and a twelve month high of $27.14. 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 has a fifty day simple moving average of $24.43 and a two-hundred day simple moving average of $20.86.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, January 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. On average, research analysts anticipate that Hanover Bancorp, Inc. will post 2.38 EPS for the current year.

Hanover Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. Hanover Bancorp’s dividend payout ratio is presently 24.10%.

Institutional Trading of Hanover Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNVR. Renaissance Technologies LLC bought a new position in Hanover Bancorp in the 2nd quarter worth $170,000. Geode Capital Management LLC increased its position in shares of Hanover Bancorp by 46.5% during the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock valued at $779,000 after buying an additional 13,803 shares during the period. Finally, Fourthstone LLC purchased a new position in shares of Hanover Bancorp during the third quarter valued at about $877,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Analyst Upgrades and Downgrades

HNVR has been the topic of several analyst reports. Piper Sandler boosted their target price on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Stephens cut Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

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.