<div id="readability-page-1"><p>Hanover Bancorp (NASDAQ:HNVR - Get Free Report) posted its earnings results on Thursday. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.02), Zacks reports. Hanover Bancorp had a return on equity of 7.40% and a net margin of 7.73%.</p><div><p><span></span><span>Get <strong>Hanover Bancorp</strong> alerts:</span></p></div><h2>Hanover Bancorp Stock Up 2.5%</h2><ul><li>5 Cheap Dividend Stocks: Which to Buy Now</li></ul><p>Shares of Hanover Bancorp stock traded up $0.50 during trading on Thursday, reaching $20.67. The company's stock had a trading volume of 36,556 shares, compared to its average volume of 17,108. Hanover Bancorp has a 1-year low of $18.31 and a 1-year high of $27.14. The company has a 50-day simple moving average of $22.11 and a two-hundred day simple moving average of $22.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The company has a market cap of $149.13 million, a price-to-earnings ratio of 13.51 and a beta of 0.07. </p><h2>Analyst Upgrades and Downgrades</h2><p>HNVR has been the topic of several analyst reports. Hovde Group initiated coverage on Hanover Bancorp in a research note on Wednesday, August 13th. They set a &#34;market perform&#34; rating and a $24.00 price objective on the stock. Piper Sandler cut their target price on Hanover Bancorp from $27.00 to $25.00 and set an &#34;overweight&#34; rating on the stock in a research report on Thursday, July 24th. Stephens decreased their price target on Hanover Bancorp from $23.50 to $22.50 and set an &#34;equal weight&#34; rating on the stock in a report on Tuesday, July 29th. Weiss Ratings  reaffirmed a &#34;hold (c+)&#34; rating on shares of Hanover Bancorp in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Hanover Bancorp from a &#34;strong sell&#34; rating to a &#34;hold&#34; rating in a research report on Monday, September 22nd. One analyst  has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of &#34;Hold&#34; and an average target price of $23.83.</p><p><b>Check Out Our Latest Stock Analysis on Hanover Bancorp</b></p><h2>Institutional Inflows and Outflows</h2><p>Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in  Hanover Bancorp by 3,744.7% in the 2nd quarter. Bank of America Corp DE now owns 1,461 shares of the company's stock worth $33,000 after acquiring an additional 1,423 shares during the last quarter.  JPMorgan Chase &amp; Co. purchased a new position in shares of  Hanover Bancorp in the second quarter worth about $51,000.  MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of  Hanover Bancorp during the second quarter worth about $59,000.  New York State Common Retirement Fund purchased a new stake in  Hanover Bancorp in the second quarter valued at approximately $108,000.  Finally, Acadian Asset Management LLC increased its holdings in  Hanover Bancorp by 298.4% in the 1st quarter. Acadian Asset Management LLC now owns 9,398 shares of the company's stock worth $205,000 after buying an additional 7,039 shares during the period. Institutional investors and hedge funds own  15.02% of the company's stock. </p><h2>Hanover Bancorp Company Profile</h2> (Get Free Report)<p>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.</p><h2>Further Reading</h2><ul><li>Five stocks we like better than Hanover Bancorp</li><li>What is the NASDAQ Stock Exchange?</li><li>NVIDIA’s Billion-Dollar Bet Puts Nokia Back in the Growth Game</li><li>5 Top Rated Dividend Stocks to Consider</li><li>Hold Ratings, High Rewards? 3 Stocks That Could Defy Expectations</li><li>The How And Why of Investing in Oil Stocks</li><li>Investors Boost American Electric Power on AI Growth</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/EarningsChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SE5WUg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="325" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/EarningsChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SE5WUg"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Hanover Bancorp Right Now?</h2><p>Before you consider Hanover Bancorp, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hanover Bancorp wasn't on the list.</p><p>While Hanover Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

HNVR

<p>Hanover Bancorp (NASDAQ:HNVR) reported quarterly earnings of $0.47 per share, missing the consensus estimate of $0.49 by $0.02. The company had a return on equity of 7.40% and a net margin of 7.73%. Following the earnings report, shares rose 2.5% to $20.67. Analysts have mixed ratings on the stock, with an average target price of $23.83. Institutional investors own 15.02% of the company, which provides various banking services in the New York metro area.</p>

Hanover Bancorp (NASDAQ:HNVR) Posts Earnings Results, Misses Expectations By $0.02 EPS