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Robert Golden, a director at Hanover Bancorp, Inc. (NASDAQ:HNVR), has offered 2,500 shares of the corporate’s frequent inventory, in keeping with a latest submitting with the Securities and Change Fee. The shares had been offered at $25.50 every, amounting to $63,750. The transaction comes because the inventory has proven outstanding power, gaining over 58% up to now six months in keeping with InvestingPro information.
Following this sale, Golden retains direct possession of 28,345 shares. Moreover, he holds shares not directly by way of numerous trusts and entities. These embrace 8,846 shares held in trusts for his kids, 215,615 shares in trusts for his profit managed by his partner, and 30,000 shares in trusts for his kids managed by his partner. Different oblique holdings embrace 85,769 shares in trusts for his sibling, 32,692 shares owned by his partner, and 52,771 shares held by a restricted legal responsibility firm managed by him.
Golden’s transactions are a part of routine disclosures required for firm insiders, providing transparency to traders about insider buying and selling actions.
In different latest information, Hanover Bancorp has been underneath the monetary lens, with Piper Sandler elevating its inventory value goal to $22.00 from the earlier $20.00, sustaining an Chubby ranking. This adjustment adopted Hanover Bancorp’s third quarter earnings report for 2024, which surpassed analyst expectations. The corporate disclosed an earnings per share of $0.50 after adjusting for one-time objects, a determine that exceeded Piper Sandler’s estimate by $0.09 and was $0.05 greater than the consensus estimate amongst different analysts.
Along with its monetary efficiency, Hanover Bancorp has seen modifications in its management, with the latest appointment of Michael Thaden as a director. Thaden’s appointment was a results of an settlement with Fortress Creek Capital Companions (WA:CPAP) VIII, LP, which has surpassed the possession of 865,000 shares of the corporate’s frequent inventory and Collection A Most popular Inventory.
Moreover, Hanover Bancorp has introduced a brand new employment settlement with its Govt Vice President and Chief Monetary Officer, Lance P. Burke, with an annual wage of $350,000. The financial institution additionally plans to open a full-service department in Port Jefferson, New York, indicating its ongoing dedication to growth. These latest developments spotlight Hanover Bancorp’s strategic strikes in each its monetary efficiency and company governance.
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