Hanover Bancorp

HNVR

Banks - Regional · Financial Services

Price

$25.05

-0.25 (-0.99%)

Market Cap

$179.3M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+57.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 4.8M (2021) → 7.5M (2025)

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 checking, savings, money market, NOW, and individual retirement accounts, as well as certificates of deposits and time deposits; cards; and residential and commercial real estate mortgages, commercial and industrial loans, lines of credit, and small bu

Winston Score History

Score breakdown

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Quality

Gross Margin

50.7%

Healthy — 50.7% gross margin

Operating Margin

0.7%

Thin — 0.7% operating margin

ROCE

0.1%

Weak — 0.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-6.6%

Shrinking sales (-6.6% YoY)

EPS YoY

-19.5%

Earnings shrinking (-19.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

114%

Turns 114% of profit into real cash

FCF Margin

6.0%

Thin free cash flow (6.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.59

Conservative — low debt load (0.59)

Interest Cover

0.12x

Dangerous — barely covers interest (0.1x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

23.8x

Growth-priced — P/E 23.8

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+14.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (23.8 → 9.7)

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Dividends

Dividend Yield

1.71%

Small dividend — 1.71% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+0.0%

Dividend flat

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