Hanover Bancorp price target lowered to $22.50 from $23.50 at Stephens

Stephens lowered the firm’s price target on Hanover Bancorp (HNVR) to $22.50 from $23.50 and keeps an Equal Weight rating on the shares, calling Q2 results “a bit of a mixed bag.” To be more constructive on the story, the firm needs to see improvements to overall deposit cost and composition along with stronger levels of profitability, the analyst tells investors.