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$106k worth of stock at US$21.25 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. They previously made an even bigger sale of -US$388k worth of shares at a price of US$23.65 per share. So we know that an insider sold shares at around the present share price of US$22.01. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

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!

Check out our latest analysis for Hanover Bancorp

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.

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. I reckon it's a good sign if insiders own a significant number of shares in the company. Hanover Bancorp insiders own about US$39m worth of shares. That equates to 24% of the company. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Do The Hanover Bancorp Insider Transactions Indicate?

An insider sold Hanover Bancorp shares recently, but they didn't buy any. Zooming out, the longer term picture doesn't give us much comfort. Insiders own shares, but we're still pretty cautious, given the history of sales. We'd practice some caution before buying! 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. While conducting our analysis, we found that Hanover Bancorp has 1 warning sign and it would be unwise to ignore this.

But note: Hanover Bancorp may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

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.