Hanover Bancorp Inc (HNVR)
NASDAQ:HNVR
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Hanover Bancorp Inc
(NASDAQ:HNVR)
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Rating:63Neutral
Price Target:
$25.00
▲(10.28% Upside)
Action:ReiteratedDate:05/09/26
The score is held back primarily by slowing revenue and a sizable profitability reset versus prior years, alongside volatile free cash flow. Offsetting this, the stock’s technical setup is constructive with price above major moving averages and positive momentum. Valuation and income are only moderately supportive (P/E ~21.4 and ~1.7% yield), while the recent capital raise is a net positive for regulatory capital and balance-sheet flexibility.
Positive Factors
Regulatory capital raise (Tier 2 notes)
Issuing $35M of Tier 2-eligible subordinated notes strengthens regulatory capital and provides explicit capacity to support loan growth and buffer losses. This durable capital improvement enhances the bank’s ability to expand assets and meet regulatory ratios over the next several years, improving strategic flexibility.
Negative Factors
Slowing revenue and margin compression
A sustained revenue decline and step-down in margins represent an earnings-power reset. Lower net margins reduce capital generation and return on equity, making it harder to absorb credit losses or fund growth without raising capital, and signal structural pressure on pricing or mix that can persist for several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory capital raise (Tier 2 notes)
Issuing $35M of Tier 2-eligible subordinated notes strengthens regulatory capital and provides explicit capacity to support loan growth and buffer losses. This durable capital improvement enhances the bank’s ability to expand assets and meet regulatory ratios over the next several years, improving strategic flexibility.
Read all positive factors
Hanover Bancorp Inc (HNVR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$166.90M
Dividend Yield1.7%
Average Volume (3M)13.02K
Price to Earnings (P/E)21.4
Beta (1Y)0.75
Revenue Growth-4.79%
EPS Growth-19.53%
CountryUS
Employees176
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.05
Shares Outstanding7,172,128
10 Day Avg. Volume10,333
30 Day Avg. Volume13,023
Financial Highlights & Ratios
PEG Ratio-0.57
Price to Book (P/B)0.86
Price to Sales (P/S)1.20
P/FCF Ratio14.17
Enterprise Value/Market Cap-0.17
Enterprise Value/Revenue-0.20
Enterprise Value/Gross Profit-0.45
Enterprise Value/Ebitda-2.61
Forecast
1Y Price Target
$23.00Price Target Upside1.46% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.46
Revenue Forecast (FY)$82.20M
Hanover Bancorp Inc Business Overview & Revenue Model
Company Description
Hanover Bancorp, Inc. operates as the bank holding company for Hanover Community Bank that provides banking products and services for small and medium-sized businesses, municipalities, and individuals in the New York metro area. The company offers...
How the Company Makes Money
Hanover Bancorp primarily makes money through its banking subsidiary by (1) earning net interest income and (2) generating non-interest income. Net interest income is the largest driver for most community banks and is generated from the spread bet...
Hanover Bancorp Inc Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
70
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Sep 2023 | Sep 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 139.04M | 143.32M | 148.36M | 113.89M | 77.30M | 52.02M |
| Gross Profit | 61.54M | 62.94M | 63.49M | 59.91M | 65.68M | 44.06M |
| EBITDA | 10.55M | 9.95M | 20.25M | 23.68M | 32.24M | 15.53M |
| Net Income | 7.84M | 7.49M | 12.35M | 15.16M | 23.56M | 10.85M |
Balance Sheet | ||||||
| Total Assets | 2.37B | 2.38B | 2.31B | 2.27B | 1.84B | 1.48B |
| Cash, Cash Equivalents and Short-Term Investments | 300.25M | 245.83M | 246.61M | 238.10M | 161.78M | 159.00M |
| Total Debt | 0.00 | 136.03M | 141.52M | 164.05M | 126.32M | 184.16M |
| Total Liabilities | 2.17B | 2.18B | 2.12B | 2.09B | 1.67B | 1.36B |
| Stockholders Equity | 201.44M | 200.27M | 196.64M | 184.83M | 172.58M | 122.53M |
Cash Flow | ||||||
| Free Cash Flow | 5.78M | 12.18M | 4.61M | 12.99M | 23.93M | 11.11M |
| Operating Cash Flow | 6.42M | 13.05M | 5.90M | 16.40M | 25.05M | 13.19M |
| Investing Cash Flow | -39.14M | -27.95M | -45.82M | -256.36M | -374.15M | 89.85M |
| Financing Cash Flow | 66.93M | 60.94M | 25.57M | 282.64M | 332.50M | -16.71M |
Hanover Bancorp Inc Technical Analysis
Positive
22.67
Price Trends
21.73
Positive
22.45
Positive
22.12
Positive
Market Momentum
0.27
Negative
65.96
Neutral
61.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HNVR, the sentiment is Positive. The current price of 22.67 is above the 20-day moving average (MA) of 21.84, above the 50-day MA of 21.73, and above the 200-day MA of 22.12, indicating a bullish trend. The MACD of 0.27 indicates Negative momentum. The RSI at 65.96 is Neutral, neither overbought nor oversold. The STOCH value of 61.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HNVR.
Hanover Bancorp Inc Risk Analysis
Hanover Bancorp Inc disclosed 57 risk factors in its most recent earnings report. Hanover Bancorp Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hanover Bancorp Inc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $225.61M | 11.80 | 13.07% | 2.58% | 3.06% | 18.08% | |
71 Outperform | $253.41M | 10.56 | 9.70% | 3.49% | 6.16% | 91.37% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $212.98M | 12.02 | 9.29% | 2.27% | 6.08% | 23.01% | |
65 Neutral | $175.01M | 36.81 | 6.61% | ― | 5.29% | 31.40% | |
63 Neutral | $166.90M | 21.41 | 5.22% | 1.70% | -4.79% | -19.53% | |
61 Neutral | $216.08M | 11.88 | 12.57% | 2.87% | 4.29% | 46.09% |
* Financial Sector Average
HNVR
Hanover Bancorp Inc
23.27
0.48
2.10%
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45.21
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PEBK
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41.31
13.70
49.63%
MRBK
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18.19
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40.57%
BVFL
BV Financial, Inc.
20.00
4.24
26.90%
Hanover Bancorp Inc Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Hanover Bancorp Completes $35 Million Subordinated Notes Offering
Positive
Mar 12, 2026
On March 12, 2026, Hanover Bancorp, Inc. completed a $35 million private placement of fixed-to-floating rate subordinated notes due 2036, issued at par to qualified institutional buyers and accredited investors. The notes carry a 7.25% fixed coupo...
Business Operations and StrategyExecutive/Board Changes
Hanover Bancorp Restructures Leadership, CEO Assumes Presidency
Neutral
Feb 19, 2026
On February 12, 2026, Hanover Bancorp, Inc. announced that President McClelland “Mac” Wilcox will depart the company and its Hanover Community Bank subsidiary as part of a management restructuring initiative, with his last day schedule...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.