This Insider Has Just Sold Shares In Hanover Bancorp

We'd be surprised if Hanover Bancorp, Inc. (NASDAQ:HNVR) shareholders haven't noticed that the Lead Independent Director, Robert Golden, recently sold US$151k worth of stock at US$26.64 per share. On the bright side, that sale was only 1.3% of their holding, so we doubt it's very meaningful, on its own.

See our latest analysis for Hanover Bancorp

The Last 12 Months Of Insider Transactions At Hanover Bancorp

In fact, the recent sale by Robert Golden was the biggest sale of Hanover Bancorp shares made by an insider individual in the last twelve months, according to our records. So we know that an insider sold shares at around the present share price of US$25.76. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. Given that the sale took place at around current prices, it makes us a little cautious but is hardly a major concern.

In the last twelve months insiders purchased 7.04k shares for US$119k. But insiders sold 17.95k shares worth US$470k. 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!

I will like Hanover Bancorp better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.

Does Hanover Bancorp Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Hanover Bancorp insiders own about US$46m worth of shares. That equates to 24% 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?

Unfortunately, there has been more insider selling of Hanover Bancorp stock, than buying, in the last three months. Despite some insider buying, the longer term picture doesn't make us feel much more positive. While insiders do own shares, they don't own a heap, and they have been selling. We'd practice some caution before buying! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Hanover Bancorp. To assist with this, we've discovered 1 warning sign that you should run your eye over to get a better picture of Hanover Bancorp.

Of course Hanover Bancorp may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

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.