Hanover Bancorp price target raised to $27 from $25 at Piper Sandler

Piper Sandler raised the firm’s price target on Hanover Bancorp (HNVR) to $27 from $25 and keeps an Overweight rating on the shares. The company has a lower-risk balance sheet and the firm expects core profitability to steadily march higher in coming quarters as the net interest margin improves, fee revenues benefit from higher loan sale gains and expense discipline helps to push the core ROTCE to about 11%.