Rhino Investment Partners Inc Invests $4.63 Million in Hanover Bancorp, Inc. (NASDAQ:HNVR)

Rhino Investment Partners Inc bought a new stake in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,721 shares of the company's stock, valued at approximately $4,628,000. Rhino Investment Partners Inc owned about 2.81% of Hanover Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp acquired a new stake in Hanover Bancorp during the fourth quarter worth $418,000. Geode Capital Management LLC raised its position in Hanover Bancorp by 46.5% in the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company's stock valued at $779,000 after purchasing an additional 13,803 shares during the period. Jane Street Group LLC acquired a new position in Hanover Bancorp during the fourth quarter worth $249,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Hanover Bancorp during the fourth quarter worth $29,000. 15.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hanover Bancorp

In other news, Director Robert Golden sold 2,761 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $26.61, for a total transaction of $73,470.21. Following the completion of the sale, the director now owns 2,239 shares in the company, valued at approximately $59,579.79. The trade was a 55.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 8,084 shares of company stock valued at $198,128. Insiders own 24.76% of the company's stock.

Hanover Bancorp Trading Down 0.1 %

HNVR traded down $0.03 during mid-day trading on Tuesday, hitting $22.98. 12,865 shares of the stock were exchanged, compared to its average volume of 13,343. The company has a market cap of $165.44 million, a PE ratio of 13.84 and a beta of 0.11. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average is $21.83 and its two-hundred day moving average is $22.91. Hanover Bancorp, Inc. has a 1-year low of $15.17 and a 1-year high of $27.14.

Hanover Bancorp (NASDAQ:HNVR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Hanover Bancorp had a net margin of 8.32% and a return on equity of 6.71%. The firm had revenue of $18.36 million for the quarter, compared to the consensus estimate of $18.80 million. Equities analysts forecast that Hanover Bancorp, Inc. will post 2.38 earnings per share 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. Investors of record on Wednesday, May 7th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. Hanover Bancorp's dividend payout ratio is currently 30.53%.

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.