Hanover Bancorp, Inc. (HNVR) Stock

Hanover Bancorp, Inc. (HNVR) is a Financials stock trading at $27.11 (as of 2026-08-21), with a market capitalization of $191.24M and a trailing P/E of 16.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Hanover Bancorp, Inc. is the bank holding company for Hanover Community Bank, offering deposit and lending products to small and medium-sized businesses, municipalities, and individuals in the New York metro area. Services include deposit accounts, cards, certificates and time deposits, and a range of mortgage and loan products, with branches in Manhattan, Brooklyn, Queens, and Nassau County, New York.

Understand Hanover Bancorp, Inc.: how it makes money

Hanover Bancorp, the bank holding company for Hanover Community Bank, provides deposit accounts (including checking, savings, money market accounts, and CDs) and lending (residential and commercial real estate mortgages, commercial and industrial loans, lines of credit, and SBA loans). Its core earnings are reflected in Pre-Provision Net Revenue.

Core profitability depends on how effectively Hanover converts its Loan Pipeline into loans that reach Executed Term Sheets, while maintaining its Deposits Across Locations to fund that activity.

Business quality (Weak): The operating focus appears centered on loan pipeline conversion and funding stability, with some Portfolio exposure highlighted by Office Market Exposure. The limited segment detail provided means investors should watch operating KPIs for real momentum rather than relying on one accounting measure alone.

Valuation: At 22× earnings, HNVR trades 75% above the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

High conversion signal in the pipeline: Share of Loan Pipeline with Executed Term Sheets is 81%, which suggests a meaningful portion of committed lending opportunity has already moved forward.
Focus on specific lending niches: The Loan Pipeline Percentage in Niche-Residential and Small Business Administration and United States Department of Agriculture Lending Opportunities is 58%, indicating targeted underwriting areas.

Bear case

Commercial real estate office exposure is a specific risk area: Office Market Exposure is 0.04 USD_B, which could matter if office-related credit conditions weaken.
Pipeline may be sensitive to funding and timing: Because the profit model appears tied to moving the Loan Pipeline with Executed Term Sheets into closed loans and supported by Deposits Across Locations, slow conversion or deposit pressure could reduce momentum in Pre-Provision Net Revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$27.11
Market Cap	$191.24M
P/E Ratio	16.9
EV / EBITDA	5.6
Price / Book	0.94
Price / Sales	1.48
FCF Yield	7.4%
DCF Value (model)	$3.49
DCF Upside vs Price	-87.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$130.48M
Net Margin	5.7%
Revenue Growth (YoY)	-1.9%
EPS Growth (YoY)	-39.5%
FCF Growth (YoY)	164.4%

Valuation vs Sector & Industry
Stock P/E	16.9
Sector P/E (Financials)	15.1
Industry P/E (Banking)	13.0
vs Sector	12.1%
vs Industry	30.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Fourthstone LLC ($11.26M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Michael Puorro
Employees	176
Country	US
IPO Date	2022-05-11

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.