Hanover Bancorp (NASDAQ:HNVR) Given New $22.00 Price Target at Piper Sandler

Hanover Bancorp (NASDAQ:HNVR) had its price target increased by Piper Sandler from $20.00 to $22.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Hanover Bancorp Price Performance

Shares of NASDAQ:HNVR opened at $18.89 on Thursday. The company has a market cap of $136.93 million, a P/E ratio of 9.64 and a beta of -0.23. The business has a fifty day simple moving average of $18.32 and a 200-day simple moving average of $17.14. Hanover Bancorp has a 52 week low of $13.62 and a 52 week high of $21.50. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.40 annualized dividend and a dividend yield of 2.12%. Hanover Bancorp’s payout ratio is currently 20.41%.

Hedge Funds Weigh In On Hanover Bancorp

A hedge fund recently bought a new stake in Hanover Bancorp stock. Renaissance Technologies LLC acquired a new stake in shares of Hanover Bancorp, Inc. (NASDAQ:HNVR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,300 shares of the company’s stock, valued at approximately $170,000. Renaissance Technologies LLC owned 0.14% of Hanover Bancorp as of its most recent SEC filing. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Hanover Bancorp Company Profile

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.