Hanover Bancorp (NASDAQ:HNVR) Cut to Hold at Wall Street Zen

Posted by Brian Himes on Sep 30th, 2026

Wall Street Zen downgraded shares of Hanover Bancorp (NASDAQ:HNVR – Free Report) from a buy rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Several other analysts have also weighed in on the company. Zacks Research upgraded Hanover Bancorp to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Hanover Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Raymond James Financial assumed coverage on shares of Hanover Bancorp in a report on Wednesday, August 26th. They issued a “market perform” rating for the company. Finally, Piper Sandler raised their price objective on shares of Hanover Bancorp from $26.50 to $28.50 and gave the company an “overweight” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

View Our Latest Report on HNVR

Hanover Bancorp Price Performance

NASDAQ HNVR opened at $25.47 on Friday. Hanover Bancorp has a 12 month low of $19.91 and a 12 month high of $27.94. The firm has a market capitalization of $179.82 million, a PE ratio of 20.06 and a beta of 0.10. The company’s 50 day simple moving average is $26.74 and its 200 day simple moving average is $24.21. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.03 and a quick ratio of 1.03.

Hanover Bancorp (NASDAQ:HNVR – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Hanover Bancorp had a return on equity of 6.00% and a net margin of 6.71%.The firm had revenue of $19.57 million during the quarter, compared to the consensus estimate of $19.83 million. As a group, equities research analysts forecast that Hanover Bancorp will post 2.38 EPS for the current fiscal year.

Hanover Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, August 6th. Hanover Bancorp’s payout ratio is presently 31.50%.

Insider Activity

In related news, President Kevin O’Connor bought 10,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were bought at an average cost of $26.88 per share, with a total value of $268,800.00. Following the completion of the transaction, the president directly owned 12,300 shares of the company’s stock, valued at approximately $330,624. This trade represents a 434.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 24.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hanover Bancorp

A number of institutional investors have recently bought and sold shares of HNVR. BlackRock Inc. purchased a new stake in Hanover Bancorp during the second quarter valued at about $6,620,000. Susquehanna International Group LLP acquired a new position in shares of Hanover Bancorp in the second quarter worth about $3,026,000. Corient Private Wealth LP purchased a new position in shares of Hanover Bancorp in the second quarter worth approximately $985,000. Dimensional Fund Advisors LP increased its position in shares of Hanover Bancorp by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 31,643 shares of the company’s stock worth $683,000 after acquiring an additional 554 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Hanover Bancorp during the second quarter valued at approximately $258,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

About Hanover Bancorp

(Get Free Report)

Hanover Bancorp, Inc is a bank holding company that operates through Hanover Community Bank, a community-focused financial institution serving businesses, individuals and municipal customers. The bank is headquartered in Mineola, New York, and has historically focused its operations on Long Island and the New York City metropolitan area, including Nassau, Suffolk, Queens, Brooklyn and Manhattan.

Hanover Community Bank provides a range of deposit products, including checking, savings, money market and certificate of deposit accounts.