Key Points
- Director Robert Golden sold 1,295 shares of Hanover Bancorp on May 27 at an average price of $23.53, for total proceeds of about $30,471. After the sale, he still owned 31,702 shares.
- The insider sale follows two earlier transactions by Golden in the prior week, including sales of 1,012 shares on May 20 and 2,259 shares on May 19.
- Hanover Bancorp recently posted mixed fundamentals, beating EPS estimates by $0.01 in its latest quarterly report while revenue came in slightly below expectations. The company also pays a quarterly dividend of $0.10, yielding about 1.7%.
Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) Director Robert Golden sold 1,295 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $23.53, for a total transaction of $30,471.35. Following the completion of the sale, the director directly owned 31,702 shares of the company's stock, valued at $745,948.06. The trade was a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
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 stock was sold at an average price of $22.79, for a total transaction of $51,482.61.
Hanover Bancorp Price Performance
Shares of HNVR opened at $23.26 on Friday. The company has a 50 day moving average price of $22.47 and a 200-day moving average price of $22.58. Hanover Bancorp, Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $24.49. The stock has a market capitalization of $166.54 million, a PE ratio of 22.15 and a beta of 0.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.05.
Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. Hanover Bancorp had a net margin of 5.53% and a return on equity of 5.09%. The firm had revenue of $19.11 million during the quarter, compared to analysts' expectations of $19.50 million.
Hanover Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, May 11th. Hanover Bancorp's dividend payout ratio is presently 38.10%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Hanover Bancorp from a "hold" rating to a "strong sell" rating in a research report on Friday, January 30th. Piper Sandler decreased their target price on shares of 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 raised shares of Hanover Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $24.33.
Read Our Latest Stock Report on HNVR
Institutional Trading of Hanover Bancorp
A number of institutional investors have recently made changes to their positions in HNVR. Fourthstone LLC boosted its position in shares of Hanover Bancorp by 22.6% in the 4th quarter. Fourthstone LLC now owns 516,702 shares of the company's stock worth $11,941,000 after purchasing an additional 95,194 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Hanover Bancorp by 117.7% in the 2nd quarter. Geode Capital Management LLC now owns 105,721 shares of the company's stock worth $2,294,000 after purchasing an additional 57,166 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Hanover Bancorp in the 2nd quarter worth $572,000. GM Advisory Group LLC acquired a new stake in shares of Hanover Bancorp in the 4th quarter worth $430,000. Finally, Teton Advisors LLC acquired a new stake in shares of Hanover Bancorp in the 3rd quarter worth $314,000. Institutional investors and hedge funds own 15.02% of the company's stock.
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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