American Century Companies Inc. Takes Position in Hanover Bancorp, Inc. $HNVR

American Century Companies Inc. acquired a new stake in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,736 shares of the company’s stock, valued at approximately $214,000. American Century Companies Inc. owned about 0.14% of Hanover Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Citadel Advisors LLC acquired a new position in shares of Hanover Bancorp during the 4th quarter valued at about $209,000. Jane Street Group LLC acquired a new position in shares of Hanover Bancorp during the 4th quarter valued at about $249,000. Millennium Management LLC acquired a new position in shares of Hanover Bancorp during the 4th quarter valued at about $373,000. Finally, Northern Trust Corp acquired a new position in shares of Hanover Bancorp during the 4th quarter valued at about $418,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

Hanover Bancorp Price Performance

Shares of HNVR stock opened at $22.90 on Monday. The stock has a 50 day moving average of $22.13 and a two-hundred day moving average of $22.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Hanover Bancorp, Inc. has a 12 month low of $17.16 and a 12 month high of $27.14. The company has a market capitalization of $165.34 million, a P/E ratio of 14.97 and a beta of 0.07.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.24). Hanover Bancorp had a return on equity of 7.40% and a net margin of 7.73%.The firm had revenue of $18.36 million during the quarter, compared to the consensus estimate of $19.30 million. As a group, equities analysts expect that Hanover Bancorp, Inc. will post 2.38 EPS for the current year.

Hanover Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Wednesday, August 6th were given a $0.10 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.7%. Hanover Bancorp’s dividend payout ratio (DPR) is currently 26.14%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stephens lowered their price objective on Hanover Bancorp from $23.50 to $22.50 and set an “equal weight” rating on the stock in a report on Tuesday, July 29th. Hovde Group assumed coverage on Hanover Bancorp in a report on Wednesday, August 13th. They issued a “market perform” rating and a $24.00 target price on the stock. Wall Street Zen lowered Hanover Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Piper Sandler lowered their target price on Hanover Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.83.

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.