Hanover Bancorp, Inc. (NASDAQ:HNVR) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Consensus "Hold": Five analysts rate Hanover Bancorp as a consensus "Hold" (1 sell, 3 hold, 1 buy) with an average 12‑month price target of $24.33.
• Recent analyst moves: Piper Sandler trimmed its target to $26.50 but kept an "overweight" rating, Weiss Ratings downgraded from buy to hold, and Zacks cut its rating to "strong sell."
• Stock & dividend snapshot: HNVR trades near $21.29 (52‑week range $18.31–$24.36) with a market cap of about $153M and PE of 21.3, and pays a quarterly dividend of $0.10 (annual $0.40, yield 1.9%, payout ratio 40%).

Shares of Hanover Bancorp, Inc. (NASDAQ:HNVR - Get Free Report) have received a consensus rating of "Hold" from the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.3333.

Several analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Hanover Bancorp from $27.00 to $26.50 and set an "overweight" rating for the company in a report on Friday, January 30th. Weiss Ratings lowered shares of Hanover Bancorp from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, March 16th. Finally, Zacks Research cut shares of Hanover Bancorp from a "hold" rating to a "strong sell" rating in a report on Friday, January 30th.

Institutional Trading of Hanover Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNVR. Barclays PLC lifted its holdings in shares of Hanover Bancorp by 19.9% during the fourth quarter. Barclays PLC now owns 10,669 shares of the company's stock worth $247,000 after buying an additional 1,769 shares during the last quarter. Fourthstone LLC grew its stake in shares of Hanover Bancorp by 22.6% in the fourth quarter. Fourthstone LLC now owns 516,702 shares of the company's stock worth $11,941,000 after acquiring an additional 95,194 shares during the last quarter. GM Advisory Group LLC acquired a new stake in shares of Hanover Bancorp in the fourth quarter worth $430,000. Wells Fargo & Company MN increased its position in Hanover Bancorp by 59.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,531 shares of the company's stock worth $128,000 after acquiring an additional 2,072 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Hanover Bancorp by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 31,089 shares of the company's stock worth $719,000 after acquiring an additional 534 shares during the period. Institutional investors and hedge funds own 15.02% of the company's stock.

Hanover Bancorp Stock Performance

HNVR opened at $21.29 on Friday. Hanover Bancorp has a 52-week low of $18.31 and a 52-week high of $24.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a 50-day moving average of $22.21 and a 200-day moving average of $22.37. The company has a market cap of $152.65 million, a PE ratio of 21.29 and a beta of 0.07.

Hanover Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, February 12th. Hanover Bancorp's payout ratio is currently 40.00%.

About Hanover Bancorp

Hanover Bancorp, Inc is the bank holding company for The Hanover National Bank, a regional financial institution headquartered in Syracuse, New York. Through its subsidiary, the company provides a full range of commercial and retail banking services, with an emphasis on relationship-driven client support and community engagement.

Key offerings include deposit products such as checking, savings, and certificates of deposit, as well as commercial and consumer lending solutions. The bank also offers treasury management services, residential mortgage origination, and investment advisory services to meet the diverse needs of individuals, small businesses, and municipalities within its market area.

Operating primarily in Central and Upstate New York, Hanover Bancorp maintains a network of branches and loan production offices designed to serve local communities.

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