Hanover Bancorp (NASDAQ: HNVR) has recently experienced significant changes in analysts’ ratings and price targets. The company also announced a quarterly dividend, which was paid on November 20, 2023. Shareholders on record as of November 13, 2023 received a dividend of $0.10 per share. The ex-dividend date was also November 13, resulting in an annualized dividend of $0.40 and a yield of 1.7%. Currently, Hanover Bancorp maintains a dividend payout ratio of 26.32%.
In related developments, insider trading activity has been observed. On November 4, 2023, Director Robert Golden sold 5,000 shares of the company’s stock at an average price of $21.25, totaling $106,250.00. Following this transaction, Golden retains 80,769 shares valued at approximately $1,716,341.25. This sale represents a 5.83% decrease in his ownership of the stock. The transaction was disclosed in a filing with the Securities and Exchange Commission (SEC), which is publicly accessible.
Hanover Bancorp operates as the bank holding company for The Hanover National Bank, a regional financial institution based in Syracuse, New York. The bank offers a wide array of commercial and retail banking services, focusing on relationship-driven client support and community engagement. Its key offerings include various deposit products such as checking, savings, and certificates of deposit, alongside comprehensive commercial and consumer lending solutions.
Additionally, Hanover Bancorp provides treasury management services, residential mortgage origination, and investment advisory services tailored to meet the diverse needs of individuals, small businesses, and municipalities in its service area. The bank’s operations are primarily concentrated in Central and Upstate New York, supported by a network of branches and loan production offices designed to serve local communities effectively.
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