Insider Buying: Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Buys 2,000 Shares of Stock

Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Elena Sisti purchased 2,000 shares of Hanover Bancorp stock in a transaction on Monday, April 22nd. The shares were acquired at an average price of $16.95 per share, with a total value of $33,900.00. Following the transaction, the director now directly owns 101,878 shares in the company, valued at approximately $1,726,832.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hanover Bancorp Stock Down 0.7 %

HNVR opened at $16.78 on Thursday. Hanover Bancorp, Inc. has a one year low of $13.62 and a one year high of $18.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average is $15.74 and its 200-day moving average is $17.03. The company has a market capitalization of $121.32 million, a PE ratio of 8.56 and a beta of -0.14.

Hanover Bancorp (NASDAQ:HNVR) last posted its quarterly earnings data on Wednesday, April 17th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.19. Hanover Bancorp had a return on equity of 7.69% and a net margin of 10.82%. The company had revenue of $16.51 million for the quarter, compared to the consensus estimate of $15.60 million. On average, equities analysts predict that Hanover Bancorp, Inc. will post 2.04 EPS for the current fiscal year.

Hanover Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Tuesday, May 7th. Hanover Bancorp’s dividend payout ratio is presently 20.41%.

Analyst Ratings Changes

A number of research analysts have issued reports on HNVR shares. Piper Sandler boosted their price target on Hanover Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. TheStreet upgraded Hanover Bancorp from a “d+” rating to a “c-” rating in a research report on Wednesday, January 3rd.

Hanover Bancorp Company Profile

Hanover Bancorp, Inc, a bank holding company for Hanover Community Bank, provides personal and business lending and deposit services to businesses, municipalities, and individuals in the New York metro area. The company offers checking, credit cards, debit cards, money market, savings, government and municipal banking, and professional services, as well as time deposits, including certificate of deposit and individual retirement accounts.