Hanover Bancorp
HNVR

$16.59

0.18%

Market Cap: 120M

About: Hanover Bancorp Inc is a United States-based banking company. It offers a full range of financial services and employs a complete suite of consumer and commercial banking products and services, including multi-family and commercial mortgages, residential loans, business loans, and lines of credit.

Employees: 176

Financials State Commercial Banks

0

Funds holding %

of 6,702 funds

–

Analysts bullish %

–

News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

17% more repeat investments, than reductions

Existing positions increased: 7 | Existing positions reduced: 6

0.54% more ownership

Funds ownership: 14.8% [Q4 2023] → 15.33% (+0.54%) [Q1 2024]

5% less funds holding

Funds holding: 21 [Q4 2023] → 20 (-1) [Q1 2024]

14% less capital invested

Capital invested by funds: $19.1M [Q4 2023] → $16.4M (-$2.7M) [Q1 2024]

20% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 5

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Research analyst outlook

1 Wall Street Analyst provided 1 year price forecasts over the past 6 months

Low target

$20

21%

upside

Avg. target

$20

21%

upside

High target

$20

21%

upside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Piper Sandler

Mark Fitzgibbon

21%upside

$20

Overweight

Maintained

25 Jul 2024

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Financial journalist opinion

Zacks Investment Research

Hanover Bancorp, Inc. (HNVR) Q2 Earnings Lag Estimates

Hanover Bancorp, Inc. (HNVR) came out with quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.42 per share a year ago.

Hanover Bancorp, Inc. (HNVR) Q2 Earnings Lag Estimates

Hanover Bancorp, Inc. Reports Earnings for the Second Quarter and Declares $0.10 Quarterly Cash Dividend

Second Quarter Performance Highlights Net Income: Net income for the quarter ended June 30, 2024 totaled $0.8 million (after giving effect to an allowance for credit loss (“ACL”) on an individually evaluated loan of $2.5 million and a $1.1 million provision resulting from ongoing enhancements to the current expected credit loss (“CECL”) model) or $0.11 per diluted share (including Series A preferred shares), versus $4.1 million or $0.55 per diluted share (including Series A preferred shares) in the prior linked quarter and $3.1 million or $0.42 per diluted share (including Series A preferred shares) in the comparable 2023 quarter. Net Interest Income: Net interest income was $13.2 million for the quarter ended June 30, 2024, an increase of $0.3 million, or 2.4% from the prior linked quarter and a decrease of $0.3 million, or 1.9% from the June 30, 2023 quarter.

Hanover Bancorp, Inc. Reports Earnings for the Second Quarter and Declares $0.10 Quarterly Cash Dividend

Zacks Investment Research

Hanover Bancorp, Inc. (HNVR) Surpasses Q1 Earnings and Revenue Estimates

Hanover Bancorp, Inc. (HNVR) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.48 per share a year ago.

Hanover Bancorp, Inc. (HNVR) Surpasses Q1 Earnings and Revenue Estimates

Hanover Bancorp, Inc. Reports Earnings for the First Quarter with Increased Net Income and Net Interest Income and Strong Non-interest Income

First Quarter Performance Highlights Net Income: Net income for the quarter ended March 31, 2024 totaled $4.1 million or $0.55 per diluted share (including Series A preferred shares), versus $3.8 million or $0.51 per diluted share (including Series A preferred shares) in the prior linked quarter and $3.2 million or $0.43 per diluted share (including Series A preferred shares) in the comparable 2023 quarter. Our first quarter results reflect linked quarter and year over year increases in diluted earnings per share (“EPS”) of 7.8% and 27.9%, respectively.

Hanover Bancorp, Inc. Reports Earnings for the First Quarter with Increased Net Income and Net Interest Income and Strong Non-interest Income

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Hanover Bancorp, Inc. Reports Earnings for the Fourth Calendar Quarter highlighted by Increased Net Income and Net Interest Income and Strong Non-interest Income

Fourth Calendar Quarter Performance Highlights Net Income: Net income for the quarter ended December 31, 2023 totaled $3.8 million or $0.51 per diluted share (including Series A preferred shares), versus $3.5 million or $0.48 per diluted share (including Series A preferred shares) in the prior linked quarter. The Company recorded adjusted (non-GAAP) net income (excluding severance expense) of $4.0 million or $0.54 per diluted share for the quarter ended December 31, 2023, versus adjusted (non-GAAP) net income (excluding litigation settlement payment) of $2.8 million or $0.38 per diluted share for the quarter ended September 30, 2023.

Hanover Bancorp, Inc. Reports Earnings for the Fourth Calendar Quarter highlighted by Increased Net Income and Net Interest Income and Strong Non-interest Income

Hanover Bancorp Announces Joseph Burns as its New Executive Vice President, Chief Lending Officer

MINEOLA, N.Y., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Hanover Bancorp, (NASDAQ: HNVR) (the “Bank”) the bank holding company for Hanover Community Bank, today announced the appointment of Mr. Joseph Burns to the position of Executive Vice President, Chief Lending Officer, effective immediately.

Hanover Bancorp Announces Joseph Burns as its New Executive Vice President, Chief Lending Officer

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