25,000 Shares in Hanover Bancorp, Inc. $HNVR Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC acquired a new position in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,000 shares of the company’s stock, valued at approximately $572,000. Corient Private Wealth LLC owned approximately 0.35% of Hanover Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Fourthstone LLC purchased a new position in shares of Hanover Bancorp during the second quarter valued at $6,690,000. Geode Capital Management LLC boosted its position in Hanover Bancorp by 117.7% during the 2nd quarter. Geode Capital Management LLC now owns 105,721 shares of the company’s stock worth $2,294,000 after acquiring an additional 57,166 shares during the period. Los Angeles Capital Management LLC purchased a new position in Hanover Bancorp during the 2nd quarter valued at about $382,000. Jane Street Group LLC lifted its position in shares of Hanover Bancorp by 97.5% in the first quarter. Jane Street Group LLC now owns 21,292 shares of the company’s stock worth $467,000 after purchasing an additional 10,511 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Hanover Bancorp during the first quarter worth approximately $214,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Hanover Bancorp Trading Down 0.5%

Hanover Bancorp stock opened at $23.40 on Monday. Hanover Bancorp, Inc. has a one year low of $18.31 and a one year high of $27.00. The company’s fifty day moving average price is $22.37 and its two-hundred day moving average price is $22.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market capitalization of $168.25 million, a price-to-earnings ratio of 15.39 and a beta of 0.04.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings results on Thursday, September 4th. The company reported $0.33 earnings per share for the quarter. Hanover Bancorp had a return on equity of 7.20% and a net margin of 7.82%.The company had revenue of $18.36 million during the quarter. On average, analysts forecast that Hanover Bancorp, Inc. will post 2.38 earnings per share for the current fiscal year.

Hanover Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, November 13th. 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 26.32%.

Insider Buying and Selling at Hanover Bancorp

In other news, Director Robert Golden sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $21.25, for a total value of $106,250.00. Following the completion of the sale, the director directly owned 80,769 shares in the company, valued at approximately $1,716,341.25. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HNVR. Piper Sandler boosted their price objective on shares of Hanover Bancorp from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Hanover Bancorp in a report on Monday, December 22nd. Finally, Zacks Research raised Hanover Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.50.

About Hanover Bancorp

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.