Hanover Bancorp (NASDAQ:HNVR) PT Raised to $22.00 at Piper Sandler

Hanover Bancorp (NASDAQ:HNVR) had its price objective boosted by equities research analysts at Piper Sandler from $20.00 to $22.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 16.46% from the stock’s current price.

Hanover Bancorp Stock Performance

Shares of HNVR opened at $18.89 on Thursday. The stock has a 50 day moving average of $18.32 and a 200 day moving average of $17.10. The company has a market capitalization of $134.69 million, a price-to-earnings ratio of 11.45 and a beta of -0.23. Hanover Bancorp has a 12 month low of $13.62 and a 12 month high of $21.50. 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) last announced its earnings results on Wednesday, July 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.34). The business had revenue of $37.04 million for the quarter, compared to analysts’ expectations of $16.30 million. Hanover Bancorp had a net margin of 8.70% and a return on equity of 6.33%. As a group, sell-side analysts forecast that Hanover Bancorp will post 1.56 earnings per share for the current year.

Hedge Funds Weigh In On Hanover Bancorp

An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC purchased a new stake in shares of 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 purchased 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned about 0.14% of Hanover Bancorp at the end of the most recent reporting period. Institutional investors and hedge funds own 15.02% of the company’s stock.

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.