Hanover Bancorp, Inc. (NASDAQ:HNVR – Get Free Report) Director Robert Golden sold 1,012 shares of Hanover Bancorp stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $23.01, for a total transaction of $23,286.12. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Stock Up 1.0%
Shares of NASDAQ HNVR opened at $23.39 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 fifty day moving average of $22.20 and a 200-day moving average of $22.52. The stock has a market capitalization of $167.47 million, a PE ratio of 22.28 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.
Hanover Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.40 annualized dividend and a dividend yield of 1.7%. Hanover Bancorp’s payout ratio is currently 38.10%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on HNVR. Zacks Research cut shares of Hanover Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings raised shares of Hanover Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, Piper Sandler lowered their price objective on shares of Hanover Bancorp from $27.00 to $26.50 and set an “overweight” rating for the company in a research note on Friday, January 30th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.33.
Check Out Our Latest Research Report on HNVR
Hedge Funds Weigh In On Hanover Bancorp
Several hedge funds and other institutional investors have recently made changes to their positions in HNVR. Goldman Sachs Group Inc. lifted its holdings in shares of Hanover Bancorp by 24.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,164 shares of the company’s stock valued at $486,000 after acquiring an additional 4,356 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Hanover Bancorp by 97.5% during the 1st quarter. Jane Street Group LLC now owns 21,292 shares of the company’s stock valued at $467,000 after acquiring an additional 10,511 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Hanover Bancorp by 298.4% during the 1st quarter. Acadian Asset Management LLC now owns 9,398 shares of the company’s stock valued at $205,000 after acquiring an additional 7,039 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 57,166 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Hanover Bancorp during the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 15.02% of the company’s stock.
Hanover Bancorp Company Profile
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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