HNVR · Hanover Bancorp, Inc. /MD

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. It offers a full-service bank providing personal and business lending and deposit services. The company offers checking, savings, money market, time deposit, NOW, and individual retirement accounts, as well as certificates of deposit. It also provides residential and commercial real estate mortgages, commercial and industrial loans, lines of credit, and small business administration loans, as well as home equity, multi-family, business, bridge, and other personal purpose loans. In addition, the company offers cards, cash management, and online and mobile banking services, as well as merchant, professional, and digital solutions. It operates banking offices in Kings, Nassau, Suffolk, New York, and Queens counties, New York; and Monmouth County, New Jersey. The company was founded in 2008 and is headquartered in Mineola, New York.

Cap structure and valuation

Cap structure
SP	$26.41
SO	7.2M
Options	0.0M
Warrants	0.0M
FD SO	7.2M
MC	$189.4M

Cash	$194.4M
Total debt	$238.4M ⚠
EV	$233.3M

TTM Multiples
EV / Revenue	1.6x
EV / EBITDA	—
MC / Net Income	24.2x
EV / FCF	41.7x
MC / FCF	33.8x

Ownership & coverage
Institutional	36.8%
Insiders	31.3%
# Institutions	91
Analysts	3
Consensus	Hold
Avg target	$26.83

Short % float	1.6%
Days to cover	1.30

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-04-30. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-08-04 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-07-15; the float denominator can be unreliable on tiny floats.

Debt figure uncertain — deposit-funded financial institution — debt/EV not a meaningful metric. Verify against the filing before relying on EV.

Financial statements

	3/31/26	12/31/25	9/30/25	6/30/25
Total Revenue	35.04	35.36	35.78	35.61
Revenue YoY %	(4.2%)	(5.0%)	(6.0%)	(3.9%)

SG&A	15.61	12.36	12.01	12.62

Interest Expense	16.36	15.83	15.22	14.79
Pretax Income	2.97	0.14	4.67	3.38
Tax Provision	1.10	0.10	1.18	0.94
Net Income	1.87	0.03	3.49	2.44
Net Margin %	5.3%	0.1%	9.8%	6.9%

Diluted EPS	$0.25	$0.00	$0.47	$0.33
Basic EPS	$0.25	$0.01	$0.47	$0.33
Diluted Avg Shares	7.2	—	7.3	7.3
Basic Avg Shares	7.2	—	7.3	7.3

	LTM	12/31/25	12/31/24	9/30/23	9/30/22
Total Revenue	141.79	143.32	148.36	113.89	77.30
Revenue YoY %	(1.1%)	(3.4%)	30.3%	47.3%	—
Gross Profit	—	—	—	54.49	61.25
Gross Profit YoY %	—	—	—	(11.0%)	—
Gross Margin %	—	—	—	47.8%	79.2%

SG&A	52.59	52.98	47.11	39.72	35.18

Interest Expense	62.21	60.48	53.09	50.55	7.17
Pretax Income	11.16	9.95	16.38	20.19	30.50
Tax Provision	3.32	2.47	4.03	5.02	6.94
Net Income	7.84	7.49	12.35	15.16	23.56
Net Margin %	5.5%	5.2%	8.3%	13.3%	30.5%

Diluted EPS	$1.05	$1.00	$1.66	$2.05	$3.68
Basic EPS	$1.06	$1.01	$1.67	$2.07	$3.74
Diluted Avg Shares	7.2	7.3	7.2	7.1	6.2
Basic Avg Shares	7.2	7.3	7.2	7.0	6.1

	3/31/26	12/31/25	9/30/25	6/30/25
Cash & Equivalents	194.45	208.90	167.57	164.53

Net PPE	14.05	14.31	14.55	14.39
Operating Lease ROU	8.07	9.86	10.38	10.89
Goodwill	19.17	19.17	19.17	19.17
Intangible Assets	—	0.20	—	—
Other Assets	2,135.21	2,130.66	2,119.92	2,102.99
Total Assets	2,370.95	2,383.10	2,331.58	2,311.98

Other Liabilities	2,169.51	2,182.83	2,129.75	2,113.09
Total Liabilities	2,169.51	2,182.83	2,129.75	2,113.09

Retained Earnings	73.53	72.40	73.12	70.38
Total Equity	201.44	200.27	201.83	198.88

	LTM	12/31/25	12/31/24	9/30/23	9/30/22
Cash & Equivalents	194.45	208.90	162.86	192.62	149.95

Net PPE	14.05	14.31	15.34	16.06	14.46
Operating Lease ROU	8.07	9.86	8.34	10.19	—
Goodwill	19.17	19.17	19.17	19.17	19.17
Intangible Assets	—	0.20	0.25	0.33	0.40
Other Assets	2,135.21	2,130.66	2,106.16	1,911.17	1,656.08
Total Assets	2,370.95	2,383.10	2,312.11	2,149.53	1,840.06

Other Liabilities	2,169.51	2,182.83	2,115.47	1,963.63	1,667.47
Total Liabilities	2,169.51	2,182.83	2,115.47	1,963.63	1,667.47

Retained Earnings	73.53	72.40	67.92	58.69	46.48
Total Equity	201.44	200.27	196.64	185.91	172.58

	3/31/26	12/31/25	9/30/25	6/30/25
Net Income	1.87	0.03	3.49	2.44
Stock-Based Comp	0.36	0.36	0.32	0.39
Δ Working Cap & Other	(4.75)	7.85	(1.06)	(4.90)
Operating Cash Flow	(2.51)	8.25	2.75	(2.06)

CapEx	(0.18)	(0.23)	(0.32)	(0.09)
Other Investing	2.04	(18.17)	(14.55)	(7.63)
Investing Cash Flow	1.85	(18.41)	(14.87)	(7.72)

Stock Buyback	—	(1.28)	—	—
Dividends Paid	(0.75)	(0.76)	(0.75)	(0.75)
Other Financing	(13.05)	53.54	15.90	14.83
Financing Cash Flow	(13.80)	51.49	15.15	14.08

Free Cash Flow	(2.70)	8.02	2.43	(2.15)

	LTM	12/31/25	12/31/24	9/30/23	9/30/22
Net Income	7.84	7.49	12.35	15.16	23.56
D&A	—	1.80	1.80	1.60	1.70
Stock-Based Comp	1.44	1.57	1.59	1.87	1.68
Δ Working Cap & Other	(2.85)	2.19	(9.83)	(2.23)	(1.86)
Operating Cash Flow	6.42	13.05	5.90	16.40	25.08

CapEx	(0.82)	(0.87)	(1.29)	(3.41)	(1.12)
Other Investing	(38.31)	(27.08)	(44.52)	(252.95)	(373.02)
Investing Cash Flow	(39.14)	(27.95)	(45.82)	(256.36)	(374.15)

Stock Issuance	—	—	—	0.00	27.73
Stock Buyback	—	(1.83)	0.00	—	—
Dividends Paid	(3.01)	(3.01)	(2.96)	(2.93)	(2.04)
Other Financing	69.94	65.78	28.53	285.56	306.78
Financing Cash Flow	66.93	60.94	25.57	282.64	332.47

Free Cash Flow	5.60	12.18	4.61	12.99	23.96

	3/31/26	12/31/25	9/30/25	6/30/25
Current Ratio	—	—	—	—
Quick Ratio	—	—	—	—
Debt / Equity	10.77	10.90	10.55	10.62
EBITDA Margin %	—	—	—	—
Working Capital	—	—	—	—
Net Debt	—	—	—	—
ROE %	0.9%	0.0%	1.7%	1.2%
ROA %	0.1%	0.0%	0.1%	0.1%

	LTM	12/31/25	12/31/24	9/30/23	9/30/22
Current Ratio	—	—	—	—	—
Quick Ratio	—	—	—	—	—
Debt / Equity	10.77	10.90	10.76	10.56	9.66
EBITDA Margin %	—	—	—	—	—
Working Capital	—	—	—	—	—
Net Debt	—	—	—	—	—
ROE %	3.9%	3.7%	6.3%	8.2%	13.6%
ROA %	0.3%	0.3%	0.5%	0.7%	1.3%

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-08-03	O'Connor Kevin M	Officer (President)	2026-07-30	P	10,000	$26.88	$268,800
2026-06-16	Golden Robert	Director	2026-06-15	S	(661)	$24.21	-$16,005
2026-06-16	Golden Robert	Director	2026-06-12	S	(3,763)	$24.02	-$90,379
2026-06-12	Golden Robert	Director	2026-06-10	S	(8,419)	$24.20	-$203,759
2026-06-04	Golden Robert	Director	2026-06-02	S	(1,847)	$23.10	-$42,668
2026-06-02	Golden Robert	Director	2026-05-29	S	(1,514)	$23.71	-$35,893
2026-05-29	Golden Robert	Director	2026-05-27	S	(1,295)	$23.53	-$30,471
2026-05-21	Golden Robert	Director	2026-05-20	S	(1,012)	$23.01	-$23,291
2026-05-21	Golden Robert	Director	2026-05-19	S	(2,259)	$22.79	-$51,483
2026-05-08	Golden Robert	Director	2026-05-06	M	10,000	$13.00	$130,000
2026-05-08	Golden Robert	Director	2026-05-06	M	(10,000)	—	$-0
2026-05-05	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-05-01	M	6,000	$13.00	$78,000
2026-05-05	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-05-01	F	(3,879)	$23.72	-$92,010
2026-05-05	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-05-01	M	(6,000)	—	$-0
2026-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2026-02-20	F	(673)	$21.98	-$14,793
2026-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2026-02-20	F	(680)	$21.98	-$14,946
2026-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2026-02-20	F	(814)	$21.98	-$17,892
2026-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2026-02-20	F	(2,216)	$21.98	-$48,708
2026-02-24	Burke Lance P	Officer (SEVP & Chief Financial Officer)	2026-02-20	F	(187)	$21.98	-$4,110
2026-02-24	Burke Lance P	Officer (SEVP & Chief Financial Officer)	2026-02-20	F	(220)	$21.98	-$4,836
2026-02-24	Burke Lance P	Officer (SEVP & Chief Financial Officer)	2026-02-20	F	(232)	$21.98	-$5,099
2026-02-24	Burke Lance P	Officer (SEVP & Chief Financial Officer)	2026-02-20	F	(572)	$21.98	-$12,573
2026-02-24	Burns Joseph F	Officer (EVP & Chief Lending Officer)	2026-02-20	F	(188)	$21.98	-$4,132
2026-02-24	Wilcox McClelland W	Officer (President)	2026-02-20	F	(421)	$21.98	-$9,254
2026-02-24	Wilcox McClelland W	Officer (President)	2026-02-20	F	(536)	$21.98	-$11,781
2026-02-24	Wilcox McClelland W	Officer (President)	2026-02-20	F	(624)	$21.98	-$13,716
2026-02-24	Wilcox McClelland W	Officer (President)	2026-02-20	F	(1,820)	$21.98	-$40,004
2026-02-24	Vivona John P	Officer (EVP & Chief Risk Officer)	2026-02-20	F	(95)	$21.98	-$2,088
2026-02-24	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-02-20	F	(76)	$21.98	-$1,670
2026-02-24	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-02-20	F	(83)	$21.98	-$1,824
2026-02-24	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-02-20	F	(428)	$21.98	-$9,407
2026-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2026-02-20	F	(157)	$21.98	-$3,451
2026-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2026-02-20	F	(198)	$21.98	-$4,352
2026-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2026-02-20	F	(232)	$21.98	-$5,099
2026-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2026-02-20	F	(600)	$21.98	-$13,188
2026-02-09	Golden Robert	Director	2026-02-06	S	(700)	$23.60	-$16,520
2026-02-09	Okun Philip A	Director	2026-02-05	A	1,592	—	$0
2026-02-09	Katz Michael David M.D.	Director	2026-02-05	A	1,592	—	$0
2026-02-09	Vivona John P	Officer (EVP & Chief Risk Officer)	2026-02-05	A	1,338	—	$0
2026-02-09	Sisti Elena	Director	2026-02-05	A	1,592	—	$0
2026-02-09	Golden Robert	Director	2026-02-05	A	1,592	—	$0
2026-02-09	Golden Robert	Director	2026-02-05	S	(500)	$23.50	-$11,750
2026-02-09	Abraham Varkey	Director	2026-02-05	A	1,592	—	$0
2026-02-09	Sorrenti John R	Director	2026-02-05	A	1,592	—	$0
2026-02-09	Burns Joseph F	Officer (EVP & Chief Lending Officer)	2026-02-05	A	2,592	—	$0
2026-02-09	Burke Lance P	Officer (SEVP & Chief Financial Officer)	2026-02-05	A	3,185	—	$0
2026-02-06	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2026-02-05	A	2,198	—	$0
2026-02-06	Haspel Ahron H	Director	2026-02-05	A	1,592	—	$0
2026-02-06	Negrin Metin	Director	2026-02-05	A	1,592	—	$0
2026-02-06	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2026-02-05	A	10,945	—	$0
2026-02-06	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2026-02-05	A	1,062	—	$0
2025-12-03	Vivona John P	Officer (FSVP & Chief Risk Officer)	2025-12-01	F	(216)	$22.75	-$4,914
2025-12-02	Burns Joseph F	Officer (EVP & Chief Lending Officer)	2025-12-01	F	(576)	$22.75	-$13,104
2025-11-06	Golden Robert	Director	2025-11-04	S	(5,000)	$21.25	-$106,248
2025-08-01	Burke Lance P	Officer (EVP & Chief Financial Officer)	2025-08-01	F	(540)	$20.81	-$11,237
2025-05-12	Golden Robert	Director	2025-05-09	S	(5,000)	$23.09	-$115,430
2025-05-12	Golden Robert	Director	2025-05-09	S	(5,000)	$23.06	-$115,293
2025-05-12	Golden Robert	Director	2025-05-08	S	(1,829)	$23.65	-$43,252
2025-05-12	Golden Robert	Director	2025-05-08	S	(5,000)	$22.83	-$114,157
2025-05-08	Golden Robert	Director	2025-05-06	S	(1,708)	$23.04	-$39,360
2025-05-06	Golden Robert	Director	2025-05-05	S	(323)	$23.40	-$7,559
2025-05-06	Golden Robert	Director	2025-05-02	S	(5,000)	$23.42	-$117,090
2025-04-01	Burke Lance P	Officer (EVP & Chief Financial Officer)	2025-03-31	A	3,798	—	$0
2025-04-01	Burke Lance P	Officer (EVP & Chief Financial Officer)	2025-03-31	F	(1,369)	$22.65	-$31,008
2025-04-01	Wilcox McClelland W	Officer (President)	2025-03-31	A	11,076	—	$0
2025-04-01	Wilcox McClelland W	Officer (President)	2025-03-31	F	(6,125)	$22.65	-$138,731
2025-04-01	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2025-03-31	A	3,988	—	$0
2025-04-01	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2025-03-31	F	(1,437)	$22.65	-$32,548
2025-04-01	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2025-03-31	A	15,826	—	$0
2025-04-01	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2025-03-31	F	(5,705)	$22.65	-$129,218
2025-02-24	Wilcox McClelland W	Officer (President)	2025-02-20	F	(3,363)	$25.53	-$85,857
2025-02-24	Wilcox McClelland W	Officer (President)	2025-02-20	F	(731)	$25.53	-$18,662
2025-02-24	Wilcox McClelland W	Officer (President)	2025-02-20	F	(856)	$25.53	-$21,854
2025-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2025-02-20	F	(794)	$25.53	-$20,271
2025-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2025-02-20	F	(168)	$25.53	-$4,289
2025-02-24	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2025-02-20	F	(202)	$25.53	-$5,157
2025-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2025-02-20	F	(3,114)	$25.53	-$79,500
2025-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2025-02-20	F	(681)	$25.53	-$17,386
2025-02-24	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2025-02-20	F	(814)	$25.53	-$20,781
2025-02-24	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2025-02-20	F	(426)	$25.53	-$10,876
2025-02-24	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2025-02-20	F	(82)	$25.53	-$2,093
2025-02-10	Golden Robert	Director	2025-02-07	S	(2,601)	$26.06	-$67,784
2025-02-10	Golden Robert	Director	2025-02-06	S	(2,596)	$26.62	-$69,118
2025-02-07	Wilcox McClelland W	Officer (President)	2025-02-06	M	42,000	$6.25	$262,500
2025-02-07	Wilcox McClelland W	Officer (President)	2025-02-06	F	(27,668)	$26.41	-$730,712
2025-02-07	Wilcox McClelland W	Officer (President)	2025-02-06	M	(42,000)	—	$-0
2025-02-06	Golden Robert	Director	2025-02-05	S	(2,761)	$26.61	-$73,476
2025-02-06	Golden Robert	Director	2025-02-04	S	(2,920)	$26.66	-$77,838
2025-02-04	Golden Robert	Director	2025-02-03	S	(2,500)	$26.58	-$66,459
2025-02-04	Golden Robert	Director	2025-01-31	S	(2,272)	$26.68	-$60,615
2025-01-31	Katz Michael David M.D.	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Vivona John P	Officer (FSVP & Chief Risk Officer)	2025-01-29	A	1,141	—	$0
2025-01-31	Haspel Ahron H	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Sisti Elena	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Okun Philip A	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Negrin Metin	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Wilcox McClelland W	Officer (President)	2025-01-29	A	5,228	—	$0
2025-01-31	Abraham Varkey	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Burns Joseph F	Officer (EVP & Chief Lending Officer)	2025-01-29	A	2,253	—	$0
2025-01-31	Diiorio Lisa A	Officer (FSVP & Chief Accounting Off.)	2025-01-29	A	920	—	$0
2025-01-31	Corbett Kevin	Officer (EVP & Chief Credit Officer)	2025-01-29	A	1,910	—	$0
2025-01-31	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2025-01-29	A	9,335	—	$0
2025-01-31	Burke Lance P	Officer (EVP & Chief Financial Officer)	2025-01-29	A	2,662	—	$0
2025-01-31	Sorrenti John R	Director	2025-01-29	A	1,331	—	$0
2025-01-31	Golden Robert	Director	2025-01-29	A	1,331	—	$0
2024-12-11	Katz Michael David M.D.	Director	2024-12-10	S	(5,000)	$25.53	-$127,650
2024-12-10	Golden Robert	Director	2024-12-10	S	(2,500)	$25.50	-$63,750
2024-12-04	Burns Joseph F	Officer (EVP & Chief Lending Officer)	2024-12-01	F	(576)	$25.19	-$14,509
2024-12-03	Vivona John P	Officer (FSVP & Chief Risk Officer)	2024-12-01	F	(216)	$25.19	-$5,441
2024-11-26	Sisti Elena	Director	2024-11-22	P	215	$23.48	$5,048
2024-09-11	Abraham Varkey	Director	2024-09-10	M	3,217	$10.00	$32,170
2024-09-11	Abraham Varkey	Director	2024-09-10	M	(3,217)	—	$-0
2024-08-30	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2024-08-28	M	30,000	$10.00	$300,000
2024-08-30	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2024-08-28	F	(19,817)	$17.75	-$351,752
2024-08-30	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2024-08-28	M	41,840	$10.00	$418,400
2024-08-30	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2024-08-28	F	(30,157)	$17.75	-$535,287
2024-08-30	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2024-08-28	M	(30,000)	—	$-0
2024-08-30	PUORRO MICHAEL P	Director, Officer (Chairman & CEO)	2024-08-28	M	(41,840)	—	$-0
2024-08-27	Haspel Ahron H	Director	2024-08-26	M	8,139	$10.00	$81,390
2024-08-27	Haspel Ahron H	Director	2024-08-26	F	(4,650)	$1,750.00	-$8,137,500
2024-08-27	Haspel Ahron H	Director	2024-08-26	M	(8,139)	—	$-0
2024-08-20	Okun Philip A	Director	2024-08-20	P	100	$17.14	$1,714
2024-08-05	Burke Lance P	Officer (EVP & Chief Financial Officer)	2024-08-01	F	(540)	$17.61	-$9,509