Robert Golden Sells 1,295 Shares of Hanover Bancorp (NASDAQ:HNVR) Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 1,295 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $23.53, for a total transaction of $30,471.35. Following the sale, the director directly owned 31,702 shares in the company, valued at $745,948.06. This represents a 3.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, May 20th, Robert Golden sold 1,012 shares of Hanover Bancorp stock. The stock was sold at an average price of $23.01, for a total transaction of $23,286.12.
• On Tuesday, May 19th, Robert Golden sold 2,259 shares of Hanover Bancorp stock. The shares were sold at an average price of $22.79, for a total transaction of $51,482.61.

Hanover Bancorp Stock Down 1.9%

Shares of NASDAQ:HNVR opened at $23.26 on Friday. The firm’s 50 day moving average price is $22.47 and its 200 day moving average price is $22.58. The stock has a market cap of $166.54 million, a price-to-earnings ratio of 22.15 and a beta of 0.12. Hanover Bancorp, Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $24.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.30.

Hanover Bancorp (NASDAQ:HNVR) last issued its earnings results on Monday, April 27th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $19.11 million for the quarter, compared to analysts’ expectations of $19.50 million. Hanover Bancorp had a net margin of 5.53% and a return on equity of 5.09%.

Hanover Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.40 annualized dividend and a yield of 1.7%. Hanover Bancorp’s dividend payout ratio (DPR) is 38.10%.

Institutional Trading of Hanover Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNVR. BNP Paribas Financial Markets raised its holdings in Hanover Bancorp by 219.9% during the third quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company’s stock worth $29,000 after purchasing an additional 886 shares in the last quarter. Bank of America Corp DE raised its holdings in Hanover Bancorp by 3,744.7% during the second quarter. Bank of America Corp DE now owns 1,461 shares of the company’s stock worth $33,000 after purchasing an additional 1,423 shares in the last quarter. Strs Ohio acquired a new stake in Hanover Bancorp during the third quarter worth approximately $36,000. JPMorgan Chase & Co. acquired a new stake in Hanover Bancorp during the second quarter worth approximately $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Hanover Bancorp during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Hanover Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.33.

About Hanover Bancorp

Hanover Bancorp, Inc is the bank holding company for The Hanover National Bank, a regional financial institution headquartered in Syracuse, New York. Through its subsidiary, the company provides a full range of commercial and retail banking services, with an emphasis on relationship-driven client support and community engagement.

Key offerings include deposit products such as checking, savings, and certificates of deposit, as well as commercial and consumer lending solutions. The bank also offers treasury management services, residential mortgage origination, and investment advisory services to meet the diverse needs of individuals, small businesses, and municipalities within its market area.

Operating primarily in Central and Upstate New York, Hanover Bancorp maintains a network of branches and loan production offices designed to serve local communities.