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

Geode Capital Management LLC boosted its position in Hanover Bancorp, Inc. (NASDAQ:HNVR) by 46.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,512 shares of the company’s stock after purchasing an additional 13,803 shares during the quarter. Geode Capital Management LLC owned about 0.61% of Hanover Bancorp worth $779,000 at the end of the most recent reporting period.

Separately, Renaissance Technologies LLC purchased a new stake in Hanover Bancorp during the 2nd quarter valued at about $170,000. 15.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HNVR. Stephens cut Hanover Bancorp from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th. Piper Sandler raised their target price on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

Hanover Bancorp Price Performance

Shares of HNVR stock opened at $21.57 on Friday. The firm’s 50-day moving average is $23.13 and its two-hundred day moving average is $19.62. Hanover Bancorp, Inc. has a 12 month low of $13.62 and a 12 month high of $27.14. 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 company has a market capitalization of $154.29 million, a PE ratio of 13.07 and a beta of -0.04.

Hanover Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a $0.10 dividend. 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 payout ratio is 24.24%.

Insider Buying and Selling

In other Hanover Bancorp news, Director Robert Golden sold 2,500 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $25.50, for a total transaction of $63,750.00. Following 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.76% of the company’s stock.

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.