683 Capital Management LLC Takes $335,000 Position in Hanover Bancorp, Inc. (NASDAQ:HNVR)

683 Capital Management LLC acquired a new position in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,528 shares of the company's stock, valued at approximately $335,000. 683 Capital Management LLC owned approximately 0.20% of Hanover Bancorp at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Hanover Bancorp by 46.5% during the 3rd quarter. Geode Capital Management LLC now owns 43,512 shares of the company's stock worth $779,000 after purchasing an additional 13,803 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Hanover Bancorp during the fourth quarter valued at approximately $29,000. Jane Street Group LLC acquired a new stake in Hanover Bancorp in the fourth quarter valued at approximately $249,000. Northern Trust Corp bought a new stake in Hanover Bancorp in the fourth quarter worth approximately $418,000. Finally, Rhino Investment Partners Inc acquired a new position in shares of Hanover Bancorp during the 4th quarter worth $4,628,000. Institutional investors and hedge funds own 15.02% of the company's stock.

Insider Transactions at Hanover Bancorp

In related news, Director Robert Golden sold 2,500 shares of Hanover Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $26.58, for a total value of $66,450.00. Following the transaction, the director now owns 27,920 shares in the company, valued at $742,113.60. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 24.76% of the stock is owned by corporate insiders.

Hanover Bancorp Stock Up 0.8 %

HNVR stock opened at $23.38 on Friday. The firm has a market cap of $168.36 million, a PE ratio of 14.08 and a beta of 0.11. Hanover Bancorp, Inc. has a 1 year low of $15.17 and a 1 year high of $27.14. The company has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $22.84. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.

Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. The company had revenue of $18.36 million during the quarter, compared to analysts' expectations of $18.80 million. Hanover Bancorp had a return on equity of 6.71% and a net margin of 8.32%. Sell-side analysts anticipate that Hanover Bancorp, Inc. will post 2.38 EPS for the current fiscal year.

Hanover Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, May 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, May 7th. Hanover Bancorp's dividend payout ratio is 30.53%.

Hanover Bancorp 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.

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