Key Points
- Insider sales: Director Robert Golden sold 500 shares on Feb 5 at $23.50 (totaling $11,750) and 700 shares on Feb 6 at $23.60 (totaling $16,520), trimming his stake by about 0.25% to 196,058 shares.
- Earnings miss: Hanover reported quarterly EPS of $0.00 versus analysts' estimate of $0.51 and revenue of $18.6M (vs. $18.85M est.); the stock carries an average analyst rating of "Hold" with a $24.33 target.
- Dividend announced: The company declared a quarterly dividend of $0.10 (annualized $0.40) with an ex-dividend date of Feb 12 and a yield of about 1.7%, payable Feb 26.
Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) Director Robert Golden sold 500 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $23.50, for a total value of $11,750.00. Following the completion of the transaction, the director owned 196,058 shares of the company's stock, valued at $4,607,363. This trade represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Robert Golden also recently made the following trade(s):
- On Friday, February 6th, Robert Golden sold 700 shares of Hanover Bancorp stock. The stock was sold at an average price of $23.60, for a total value of $16,520.00.
Hanover Bancorp Price Performance
NASDAQ HNVR opened at $23.27 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.03. The firm has a market capitalization of $167.31 million, a price-to-earnings ratio of 23.27 and a beta of 0.04. The company has a 50 day simple moving average of $23.38 and a 200-day simple moving average of $22.44. Hanover Bancorp, Inc. has a 52-week low of $18.31 and a 52-week high of $26.43.
Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.51). The firm had revenue of $18.60 million for the quarter, compared to analyst estimates of $18.85 million. Hanover Bancorp had a net margin of 5.22% and a return on equity of 5.18%. Equities research analysts predict that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current fiscal year.
Hanover Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, February 12th. This represents a $0.40 annualized dividend and a yield of 1.7%. Hanover Bancorp's dividend payout ratio is presently 40.00%.
Wall Street Analyst Weigh In
HNVR has been the subject of several research reports. Zacks Research cut shares of Hanover Bancorp from a "hold" rating to a "strong sell" rating in a research note on Friday, January 30th. Piper Sandler reduced their price objective on Hanover Bancorp from $27.00 to $26.50 and set an "overweight" rating for the company in a research report on Friday, January 30th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Hanover Bancorp in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.33.
View Our Latest Research Report on Hanover Bancorp
Hedge Funds Weigh In On Hanover Bancorp
A number of institutional investors have recently modified their holdings of the stock. Fourthstone LLC acquired a new position in shares of Hanover Bancorp during the second quarter valued at $6,690,000. Geode Capital Management LLC lifted its position in Hanover Bancorp by 117.7% during the 2nd quarter. Geode Capital Management LLC now owns 105,721 shares of the company's stock valued at $2,294,000 after purchasing an additional 57,166 shares during the period. Corient Private Wealth LLC bought a new position in shares of Hanover Bancorp in the 2nd quarter valued at about $572,000. Los Angeles Capital Management LLC acquired a new stake in shares of Hanover Bancorp during the 2nd quarter worth approximately $382,000. Finally, Teton Advisors LLC bought a new stake in shares of Hanover Bancorp during the third quarter worth approximately $314,000. 15.02% of the stock is owned by institutional investors.
Hanover Bancorp Company Profile
(
Get Free Report)
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.
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