16,191 Shares in Hanover Bancorp, Inc. (NASDAQ:HNVR) Purchased by Millennium Management LLC

Millennium Management LLC bought a new position in Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 16,191 shares of the company's stock, valued at approximately $373,000. Millennium Management LLC owned 0.23% of Hanover Bancorp at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Hanover Bancorp in the fourth quarter worth about $29,000. Citadel Advisors LLC purchased a new position in shares of Hanover Bancorp in the 4th quarter valued at approximately $209,000. Jane Street Group LLC bought a new stake in shares of Hanover Bancorp during the fourth quarter valued at approximately $249,000. 683 Capital Management LLC purchased a new stake in Hanover Bancorp in the fourth quarter worth $335,000. Finally, Northern Trust Corp bought a new position in Hanover Bancorp in the fourth quarter worth $418,000. Institutional investors own 15.02% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Hanover Bancorp from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd.

Insiders Place Their Bets

In related news, Director Robert Golden sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.42, for a total transaction of $117,100.00. Following the completion of the sale, the director now owns 205,418 shares of the company's stock, valued at $4,810,889.56. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.88% of the company's stock.

Hanover Bancorp Stock Up 1.1%

Shares of NASDAQ HNVR traded up $0.24 on Thursday, reaching $22.26. 2,502 shares of the company's stock traded hands, compared to its average volume of 14,599. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The business's 50 day simple moving average is $22.05 and its two-hundred day simple moving average is $23.28. Hanover Bancorp, Inc. has a 12 month low of $15.92 and a 12 month high of $27.14. The company has a market cap of $160.92 million, a price-to-earnings ratio of 13.41 and a beta of 0.07.

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

Hanover Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. Hanover Bancorp's dividend payout ratio is currently 30.53%.

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.