Hanover Bancorp, Inc.
- Open
- 27.09
- Day high
- 27.09
- Day low
- 26.72
- Prev close
- 26.81
- Volume
- 22K
- Mkt cap
- $189M
- P/E (TTM)
- 21.0
- EPS (TTM)
- $1.27
- P/B
- 0.9
- P/S
- 1.4
- Yield
- 1.50%
- Per share
- $0.40
- ▼Insiders net selling -$84K over the last 3 months (1 open-market buy, 4 sales)
- 🏛Institutions reducing (13F)
Hanover Bancorp, Inc. (HNVR) is a Financial Services company listed on NASDAQ. The stock is up 20% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 4 sales (SEC Form 4).
Hanover Bancorp, Inc. (HNVR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HNVR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $0.56 | $0.58 | +2.7% | $20M | -1.3% |
| Apr 27, 2026 | $0.53 | $0.54 | +1.9% | $19M | -2.0% |
| Mar 13, 2026 | — | $0.00 | — | $35M | — |
| Oct 30, 2025 | $0.49 | $0.47 | -4.1% | $36M | +90.8% |
| Jul 23, 2025 | $0.57 | $0.33 | -42.1% | $36M | +84.5% |
| Apr 23, 2025 | $0.51 | $0.55 | +7.8% | $37M | +89.5% |
| Jan 29, 2025 | $0.49 | $0.52 | +6.1% | $17M | -10.2% |
| Jul 24, 2024 | $0.48 | $0.11 | -77.1% | $37M | +117.9% |
| Apr 17, 2024 | $0.45 | $0.55 | +23.0% | $36M | +120.7% |
| Jan 24, 2024 | $0.34 | $0.51 | +49.1% | $34M | +121.7% |
| Dec 21, 2023 | $0.36 | $0.48 | +32.2% | $16M | — |
| Apr 27, 2023 | $0.66 | $0.48 | -26.8% | $16M | -6.6% |
HNVR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 3, 2026 | O'Connor Kevin Mofficer: President | Buy | 10,000 | $26.88 |
| Jun 16, 2026 | Golden Robertdirector | Sell | 661 | $24.21 |
| Jun 16, 2026 | Golden Robertdirector | Sell | 3,763 | $24.02 |
| Jun 12, 2026 | Golden Robertdirector | Sell | 8,419 | $24.20 |
| Jun 4, 2026 | Golden Robertdirector | Sell | 1,847 | $23.10 |
| Jun 2, 2026 | Golden Robertdirector | Sell | 1,514 | $23.71 |
| May 29, 2026 | Golden Robertdirector | Sell | 1,295 | $23.53 |
| May 21, 2026 | Golden Robertdirector | Sell | 1,012 | $23.01 |
| May 21, 2026 | Golden Robertdirector | Sell | 2,259 | $22.79 |
| May 8, 2026 | Golden Robertdirector | Option | 10,000 | $13.00 |
| May 5, 2026 | Diiorio Lisa Aofficer: FSVP & Chief Accounting Off. | Option | 6,000 | $13.00 |
| May 5, 2026 | Diiorio Lisa Aofficer: FSVP & Chief Accounting Off. | Tax | 3,879 | $23.72 |
| Feb 24, 2026 | PUORRO MICHAEL Pdirector, officer: Chairman & CEO | Tax | 814 | $21.98 |
| Feb 24, 2026 | PUORRO MICHAEL Pdirector, officer: Chairman & CEO | Tax | 673 | $21.98 |
| Feb 24, 2026 | Corbett Kevinofficer: EVP & Chief Credit Officer | Tax | 600 | $21.98 |
Source: HNVR SEC Form 4 filings, latest Aug 3, 2026. For informational purposes only — not investment advice.
See the full HNVR insider & 13F page →Hanover Bancorp, Inc. company profile
Overview
Hanover Bancorp, Inc. (NASDAQ:HNVR) is a regional bank holding company founded in 2008 and headquartered in Mineola, New York. The company went public in May 2022 and operates through its wholly-owned subsidiary, Hanover Community Bank, which serves small and medium-sized businesses, municipalities, and individual customers primarily in the New York metropolitan area. With branch offices strategically located in Manhattan, Brooklyn, Queens, and Nassau County, Hanover focuses on providing traditional banking services to local communities and businesses in one of the nation's most economically vibrant regions.
Business
Hanover Bancorp operates in the regional banking industry, providing traditional commercial and retail banking services through its subsidiary Hanover Community Bank. The company functions as a community bank, which refers to smaller, locally-focused financial institutions that primarily serve businesses and residents within specific geographic markets, as opposed to large national banks that operate across multiple states. The bank's core offerings include deposit products such as checking accounts, savings accounts, money market accounts, NOW accounts (interest-bearing checking accounts), individual retirement accounts (IRAs), certificates of deposit, and time deposits. These products allow customers to safely store their money while earning interest, providing the bank with funding sources for its lending operations. On the lending side, Hanover provides various loan products including residential and commercial real estate mortgages, commercial and industrial loans, lines of credit, Small Business Administration (SBA) loans, home equity loans, multi-family property loans, business loans, bridge loans, and other personal purpose loans. Commercial real estate and commercial lending typically represent the largest revenue-generating segments for regional banks like Hanover, as these loans carry higher interest rates and larger principal amounts compared to consumer loans. The bank also offers banking cards and related services to facilitate customer transactions. As a community-focused institution, Hanover emphasizes relationship banking, where loan officers and bank staff develop personal relationships with local business owners and individual customers to better understand their financial needs.
Revenue model
Hanover Bancorp operates under the traditional banking business model, earning money primarily through net interest income - the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. This is known as the net interest margin, which represents the bank's core profitability metric. The bank's primary revenue streams include interest income from its loan portfolio (commercial real estate mortgages, commercial and industrial loans, residential mortgages, and consumer loans), interest from investment securities, and fee income from banking services such as account maintenance fees, overdraft fees, wire transfer fees, and loan origination fees. Based on the financial data, the bank generated approximately $37 million in quarterly revenue, suggesting an annualized revenue run rate of around $140-150 million. Hanover's customers are primarily small and medium-sized businesses, municipalities, and individual consumers in the New York metro area. Business customers typically provide higher-margin lending opportunities through commercial loans and real estate financing, while individual customers provide stable, lower-cost deposit funding. Several factors can significantly impact the bank's profitability margins. Interest rate environment is the most critical factor - rising rates generally benefit banks by increasing loan yields faster than deposit costs, while falling rates compress margins. Credit quality directly affects profitability through loan loss provisions - economic downturns in the New York area could lead to higher defaults. Competition from larger banks, credit unions, and fintech companies can pressure both loan pricing and deposit rates. Regulatory compliance costs represent a significant fixed expense that can impact smaller banks disproportionately. Real estate market conditions in New York are particularly important given the bank's focus on commercial real estate lending, as property values and occupancy rates directly affect collateral values and borrower ability to repay.
Competitive moat
Hanover Bancorp operates with a relatively narrow economic moat typical of smaller regional banks. The company's primary competitive advantages stem from its local market knowledge and relationship banking approach in the New York metropolitan area. Community banks like Hanover can often provide more personalized service and faster decision-making compared to large national banks, particularly for small business lending where local relationships and market understanding are valuable. The bank benefits from some regulatory barriers to entry, as obtaining banking charters requires significant capital, regulatory approval, and ongoing compliance capabilities. Additionally, customer switching costs provide modest protection, as businesses and individuals often maintain banking relationships for years due to the inconvenience of changing accounts, established credit relationships, and integrated financial services. However, Hanover faces significant competitive pressures that limit its moat strength. Large national banks like JPMorgan Chase, Bank of America, and Citigroup have substantial presence in New York and can offer broader product suites, better technology platforms, and more competitive pricing due to their scale advantages. Credit unions often provide competitive rates and lower fees to their members. Fintech companies are increasingly disrupting traditional banking services, particularly in payments, lending, and digital banking experiences. The bank's geographic concentration in the New York area, while providing local expertise, also creates vulnerability to regional economic downturns. Unlike diversified national banks, Hanover lacks geographic diversification to offset localized economic stress. The company's limited scale also constrains its ability to invest in technology infrastructure and compete on pricing, making it susceptible to both larger competitors and innovative fintech disruptors.
Risks & safety
Hanover Bancorp presents moderate financial risk with some concerning liquidity metrics but reasonable capital adequacy. • Liquidity concerns: Current ratio of 0.09 indicates potential short-term liquidity stress, though this reflects the nature of banking where deposits (liabilities) far exceed liquid assets • Cash position: Strong cash and short-term investments of $160+ million provide adequate liquidity buffer • Debt levels: Debt-to-equity ratio of 0.72 is reasonable for a bank, indicating moderate leverage • Profitability trends: Net income volatility with Q1 2025 showing $1.5M vs $3.9M in Q4 2024, suggesting earnings instability • Valuation metrics: Trading at P/E of 26.9x and P/B of 0.83x, indicating mixed valuation signals • Capital adequacy: Book value appears adequate relative to assets, though negative Graham net-net working capital reflects typical banking balance sheet structure • Operational cash flow: Positive but variable operational cash flows ($4.1M in Q1 2025) indicate adequate but inconsistent cash generation
Recent development
Based on the available financial data spanning 2022-2025, Hanover Bancorp has undergone significant evolution since its 2022 IPO. The bank has experienced substantial asset growth, with total assets expanding from $1.84 billion in 2022 to approximately $2.31 billion by 2024, representing roughly 25% growth over two years. The company has demonstrated profitability challenges in recent periods, with net income declining from $23.6 million in 2022 to $12.3 million in 2024, despite asset growth. This suggests margin compression and operational efficiency challenges as the bank scaled its operations. Quarterly earnings have shown significant volatility, ranging from $823,000 in Q2 2024 to $3.9 million in Q4 2024. The bank has maintained a strong deposit base, with cash and short-term investments consistently above $140 million, providing funding stability for its lending operations. However, the institution appears to be navigating the challenging interest rate environment that has affected many regional banks, with compressed net interest margins evident in the declining profitability metrics. Hanover's branch network expansion and presence in high-value New York markets positions it to capture business from the region's economic activity, though the bank faces ongoing pressure to demonstrate consistent profitability and operational efficiency as it matures beyond its initial public offering phase.
HNVR company profile · for informational purposes only — not investment advice.
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