Hanover Bancorp, Inc. (NASDAQ:HNVR) Short Interest Down 6.3% in October

Hanover Bancorp, Inc. (NASDAQ:HNVR) was the recipient of a large 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 days-to-cover ratio is presently 1.5 days. Currently, 0.2% of the shares of the company are short sold.

Hanover Bancorp Trading Up 0.6 %

NASDAQ HNVR opened at $19.99 on Friday. The stock has a market capitalization of $142.45 million, a price-to-earnings ratio of 12.12 and a beta of -0.23. The business’s fifty day moving average is $18.43 and its 200-day moving average is $17.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.02. Hanover Bancorp has a one year low of $13.62 and a one year high of $21.50.

Hanover Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, November 6th. Hanover Bancorp’s dividend payout ratio is 24.24%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hanover Bancorp stock. Renaissance Technologies LLC acquired a new stake in Hanover Bancorp, Inc. (NASDAQ:HNVR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 quarter. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

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.