Hanover Bancorp (NASDAQ:HNVR) Price Target Raised to $22.00 at Piper Sandler

Hanover Bancorp (NASDAQ:HNVR) had its target price raised by Piper Sandler from $20.00 to $22.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Hanover Bancorp Stock Up 0.1 %

Shares of HNVR traded up $0.02 during trading hours on Thursday, hitting $19.24. The stock had a trading volume of 13,356 shares, compared to its average volume of 5,787. The firm has a 50 day simple moving average of $18.29 and a 200-day simple moving average of $17.07. Hanover Bancorp has a 1-year low of $13.62 and a 1-year high of $21.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02. The firm has a market capitalization of $139.47 million, a P/E ratio of 9.82 and a beta of -0.23.

Hanover Bancorp (NASDAQ:HNVR) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.34). Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. The firm had revenue of $37.04 million during the quarter, compared to analyst estimates of $16.30 million. Sell-side analysts predict that Hanover Bancorp will post 1.56 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.40 annualized dividend and a yield of 2.08%. Hanover Bancorp’s payout ratio is 20.41%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC purchased a new stake in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned about 0.14% of Hanover Bancorp as of its most recent filing with the SEC. 15.02% of the stock is currently owned by institutional investors and hedge funds.

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.