Hanover Bancorp, Inc. (NASDAQ:HNVR) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) by 46.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 43,512 shares of the company’s stock after buying an additional 13,803 shares during the quarter. Geode Capital Management LLC’s holdings in Hanover Bancorp were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Renaissance Technologies LLC acquired a new position in shares of Hanover Bancorp in the second quarter valued at approximately $170,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Insider Buying and Selling at Hanover Bancorp

In other news, Director Robert Golden sold 2,500 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $25.50, for a total transaction of $63,750.00. Following the completion of the sale, the director now directly owns 28,345 shares in the company, valued at $722,797.50. This represents a 8.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 24.76% of the stock is owned by company insiders.

Hanover Bancorp Trading Down 3.2 %

Shares of HNVR opened at $21.57 on Friday. Hanover Bancorp, Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $27.14. The company has a market capitalization of $154.29 million, a PE ratio of 13.07 and a beta of -0.04. The stock has a fifty day moving average of $23.13 and a two-hundred day moving average of $19.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.03.

Hanover Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.40 annualized dividend and a yield of 1.85%. Hanover Bancorp’s dividend payout ratio (DPR) is presently 24.24%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HNVR shares. Stephens cut Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler upped their price target on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

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.