Fourthstone LLC Buys New Position in Hanover Bancorp, Inc. (NASDAQ:HNVR)

Fourthstone LLC purchased a new position in Hanover Bancorp, Inc. (NASDAQ:HNVR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 49,042 shares of the company’s stock, valued at approximately $877,000.

Separately, Renaissance Technologies LLC acquired a new position in shares of Hanover Bancorp during the second quarter worth $170,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price target on shares of Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Hanover Bancorp Stock Up 1.5 %

Shares of NASDAQ HNVR traded up $0.37 during midday trading on Thursday, reaching $24.50. 6,355 shares of the company’s stock were exchanged, compared to its average volume of 6,947. 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, Inc. has a 52-week low of $13.62 and a 52-week high of $25.80. The business’s fifty day moving average price is $19.79 and its two-hundred day moving average price is $17.96. The stock has a market capitalization of $175.18 million, a PE ratio of 14.85 and a beta of -0.26.

Hanover Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.40 annualized dividend and a yield of 1.63%. Hanover Bancorp’s dividend payout ratio is presently 24.24%.

Hanover Bancorp Company Profile

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.