Hanover Bancorp, Inc. (NASDAQ:HNVR) Director Elena Sisti Acquires 2,000 Shares

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

Hanover Bancorp Stock Up 3.4 %

HNVR opened at $16.90 on Wednesday. The firm’s 50-day simple moving average is $15.74 and its 200-day simple moving average is $17.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 1.08. Hanover Bancorp, Inc. has a twelve month low of $13.62 and a twelve month high of $18.91. The firm has a market cap of $122.17 million, a price-to-earnings ratio of 8.62 and a beta of -0.14.

Hanover Bancorp (NASDAQ:HNVR) last posted its earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.20. Hanover Bancorp had a net margin of 10.82% and a return on equity of 7.69%. The business had revenue of $15.91 million for the quarter, compared to analyst estimates of $14.40 million. Equities research analysts anticipate that Hanover Bancorp, Inc. will post 2.04 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Tuesday, May 7th. Hanover Bancorp’s dividend payout ratio is currently 20.41%.

Wall Street Analyst Weigh In

HNVR has been the topic of several analyst reports. TheStreet raised shares of Hanover Bancorp from a “d+” rating to a “c-” rating in a report on Wednesday, January 3rd. Piper Sandler upped their target price on shares of Hanover Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th.

About Hanover Bancorp

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.