Insider Selling: Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Sells 2,500 Shares of Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Robert Golden sold 2,500 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $25.50, for a total value of $63,750.00. Following the completion of the sale, the director now directly owns 28,345 shares of the company’s stock, valued at $722,797.50. The trade was a 8.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hanover Bancorp Stock Up 0.1 %

Shares of NASDAQ:HNVR traded up $0.03 on Tuesday, hitting $25.42. 46,925 shares of the company traded hands, compared to its average volume of 7,992. Hanover Bancorp, Inc. has a 52 week low of $13.62 and a 52 week 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 stock has a 50 day simple moving average of $21.16 and a 200-day simple moving average of $18.57. The company has a market cap of $181.75 million, a PE ratio of 15.41 and a beta of -0.10.

Hanover Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.57%. Hanover Bancorp’s payout ratio is presently 24.24%.

Hedge Funds Weigh In On Hanover Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Hanover Bancorp in the 2nd quarter worth about $170,000. Geode Capital Management LLC increased its holdings in Hanover Bancorp by 46.5% in the 3rd quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock worth $779,000 after buying an additional 13,803 shares in the last quarter. Finally, Fourthstone LLC bought a new stake in Hanover Bancorp in the 3rd quarter worth about $877,000. 15.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HNVR shares. Stephens lowered Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday. Piper Sandler raised their price objective on Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

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.