Have Insiders Sold Hanover Bancorp Shares Recently?

We'd be surprised if Hanover Bancorp, Inc. (NASDAQ:HNVR) shareholders haven't noticed that the Lead Independent Director, Robert Golden, recently sold US$125k worth of stock at US$23.42 per share. On the bright side, that sale was only 1.2% of their holding, so we doubt it's very meaningful, on its own.

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The Last 12 Months Of Insider Transactions At Hanover Bancorp

Notably, that recent sale by Lead Independent Director Robert Golden was not the only time they sold Hanover Bancorp shares this year. Earlier in the year, they fetched US$26.66 per share in a -US$151k sale. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$23.47. So it may not tell us anything about how insiders feel about the current share price.

Over the last year, we can see that insiders have bought 2.32k shares worth US$39k. But they sold 30.18k shares for US$771k. All up, insiders sold more shares in Hanover Bancorp than they bought, over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

See our latest analysis for Hanover Bancorp

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Insider Ownership

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Hanover Bancorp insiders own about US$40m worth of shares. That equates to 25% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About Hanover Bancorp Insiders?

An insider sold Hanover Bancorp shares recently, but they didn't buy any. And our longer term analysis of insider transactions didn't bring confidence, either. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. At Simply Wall St, we found 2 warning signs for Hanover Bancorp that deserve your attention before buying any shares.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.