Key Points
- Director Robert Golden sold shares twice in Hanover Bancorp, including 2,259 shares on May 19 at $22.79 and another 1,012 shares on May 20 at $23.01, reducing his stake by about 6.23% after the first sale.
- Hanover Bancorp reported mixed quarterly results, with earnings per share of $0.54 beating estimates by a penny, while revenue of $19.11 million came in slightly below expectations.
- The company also paid a quarterly dividend of $0.10 per share, equal to an annualized yield of 1.7%, while analysts currently have a consensus Hold rating and an average price target of $24.33.
Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) Director Robert Golden sold 1,012 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $23.01, for a total transaction of $23,286.12. Following the sale, the director directly owned 32,997 shares of the company's stock, valued at $759,260.97. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Robert Golden also recently made the following trade(s):
- 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 Price Performance
NASDAQ HNVR opened at $23.16 on Friday. Hanover Bancorp, Inc. has a 52 week low of $19.91 and a 52 week high of $24.49. The firm has a market capitalization of $165.83 million, a P/E ratio of 22.06 and a beta of 0.12. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $22.15 and a 200-day moving average price of $22.52.
Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $19.11 million during the quarter, compared to analyst estimates of $19.50 million. Hanover Bancorp had a net margin of 5.53% and a return on equity of 5.09%.
Hanover Bancorp Dividend Announcement
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. This represents a $0.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, May 11th. Hanover Bancorp's dividend payout ratio is currently 38.10%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on HNVR shares. Weiss Ratings raised shares of Hanover Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Zacks Research lowered shares of Hanover Bancorp from a "hold" rating to a "strong sell" rating in a report on Friday, January 30th. Finally, Piper Sandler reduced their target price on shares of Hanover Bancorp from $27.00 to $26.50 and set an "overweight" rating for the company in a report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Hanover Bancorp has an average rating of "Hold" and a consensus target price of $24.33.
View Our Latest Stock Report on Hanover Bancorp
Institutional Investors Weigh In On Hanover Bancorp
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in Hanover Bancorp by 219.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,289 shares of the company's stock valued at $29,000 after buying an additional 886 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Hanover Bancorp by 3,744.7% during the 2nd quarter. Bank of America Corp DE now owns 1,461 shares of the company's stock valued at $33,000 after acquiring an additional 1,423 shares during the last quarter. Strs Ohio bought a new position in shares of Hanover Bancorp during the 3rd quarter valued at approximately $36,000. JPMorgan Chase & Co. bought a new position in shares of Hanover Bancorp during the 2nd quarter valued at approximately $51,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Hanover Bancorp during the 2nd quarter valued at approximately $59,000. 15.02% of the stock is owned by hedge funds and other 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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