
HNVR Stock Forecast & Price Target
HNVR Analyst Ratings
Bulls say
Hanover Bancorp Inc. has demonstrated a solid performance with an increase in net interest margin (NIM) by 11 basis points quarter-over-quarter to 2.40%, indicating improved profitability on its lending activities. The total balance sheet footings saw a robust growth of approximately 6% from the previous quarter, reflecting strong operational expansion. Additionally, a significant rise in municipal deposits, up nearly 69% to $528 million, underscores the company's strong liquidity position and potential for further growth in the coming years.
Bears say
Hanover Bancorp has reported a net interest margin of 2.37%, which is 4 basis points lower than estimates, reflecting a 9 basis point compression compared to the previous quarter, largely attributed to narrowing asset/liability spreads. Additionally, the bank experienced a contraction in loan balances of less than 1% quarter-over-quarter, accompanied by a minimal deposit growth of less than 1%, indicating potential challenges in loan demand within its market area. The company's loan-to-deposit ratio remains relatively high at 103%, presenting risks associated with credit, liquidity, and operating expenses, which may contribute to a negative outlook for the stock.
This aggregate rating is based on analysts' research of Hanover Bancorp Inc/NY and is not a guaranteed prediction by Public.com or investment advice.
HNVR Analyst Forecast & Price Prediction
Start investing in HNVR
Order type
Buy in
Order amount
Est. shares
0 shares