Hanover Bancorp, Inc. (NASDAQ:HNVR) Short Interest Update

Hanover Bancorp, Inc. (NASDAQ:HNVR) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 7,400 shares, a drop of 6.3% from the September 30th total of 7,900 shares. Based on an average daily trading volume, of 4,900 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC bought a new stake in Hanover Bancorp, Inc. (NASDAQ:HNVR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned approximately 0.14% of Hanover Bancorp as of its most recent filing with the Securities and Exchange Commission. 15.02% of the stock is currently owned by institutional investors.

Hanover Bancorp Price Performance

Shares of Hanover Bancorp stock traded up $0.63 on Thursday, hitting $19.88. The company’s stock had a trading volume of 41,839 shares, compared to its average volume of 6,093. The company has a market capitalization of $144.11 million, a P/E ratio of 10.14 and a beta of -0.23. Hanover Bancorp has a 52-week low of $13.62 and a 52-week high of $21.50. The firm has a fifty day moving average price of $18.43 and a 200-day moving average price of $17.23. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.13.

Hanover Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, November 6th. Hanover Bancorp’s dividend payout ratio (DPR) is presently 20.41%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on Hanover Bancorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

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.