Hanover Bancorp Inc. Common Stock (HNVR)

FairStock Score: 24/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At $24.53 on 2026-10-13, Hanover Bancorp is a $173.1 million community bank holding company. The price is 0.88 times book and 19.31 times earnings per FairStock's calculations. A below-book price can be a Graham invitation, but the quality test is weak: ROE is only 4.71%, so the bank earns little on shareholder capital. The annual filed record is deteriorating: net income was $15.2M in FY2023 (period ended 2023-09-30), $12.3M in FY2024 (period ended 2024-12-31), and $7.5M in FY2025 (period ended 2025-12-31). Diluted EPS followed: $2.05, $1.66, then $1.00. That is not a stalwart's steady progress, despite the FairStock Lynch label of STALWART based on a five-year profit growth of 8.5%. The quarterly filings show some stabilization: fiscal Q1 2026 (quarter ended 2026-03-31) net income $1.9M/EPS $0.25; fiscal Q2 2026 (quarter ended 2026-06-30) net income $4.1M/EPS $0.55; and fiscal Q2 2025 (quarter ended 2025-06-30) net income $2.4M/EPS $0.33. So Q2 2026 improved year over year. Piotroski 7/9 suggests improving accounting signals. Still, the FairStock Score is 24/100, and P/E of 19.31 is not cheap for a 4.71% ROE. Moat is limited: 194 employees, small-business and municipal banking is competitive, and low beta 0.11 may reflect illiquidity more than safety. I lack CET1, NIM, and combined ratio—combined ratio isn't a bank measure—plus credit quality and reserve data, so underwriting risk cannot be judged. A below-book price is only attractive if returns recover. Until ROE and net income improve, I'd call it a cheap-looking but unproven turnaround, not a clear value.

In plain English: Hanover Bancorp is a small bank holding company that takes deposits and makes loans to local businesses, towns and individuals. Its profits have shrunk over the past few years and the return it earns on shareholders' money is modest. The stock trades below its accounting book value, so it may look inexpensive, but the weak profit trend makes it a show-me situation rather than an obvious bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-09-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer