Hanover Bancorp president O’Connor buys $268,800 in company stock

Kevin M. O’Connor, President of Hanover Bancorp, Inc. (NASDAQ:HNVR), purchased 10,000 shares of the company’s common stock on July 30, 2026. The transaction was executed at a price of $26.88 per share, totaling $268,800. The purchase comes as the stock trades near its 52-week high of $27.89, following a strong 30% return over the past six months. According to InvestingPro analysis, which offers 6 additional exclusive tips for HNVR, the stock currently appears overvalued relative to its Fair Value estimate.

Following this direct purchase, Mr. O’Connor beneficially owns 12,300 shares of Hanover Bancorp common stock.

In other recent news, Hanover Bancorp announced a new share repurchase program, allowing for the buyback of up to 370,000 shares, which is about 5% of the company’s outstanding common stock. This program is set to commence after the completion of a previous repurchase initiative approved in October 2023 and will expire on August 17, 2027. In leadership developments, Hanover Bancorp appointed Kevin O’Connor as the new president of the company and Hanover Community Bank, effective July 27. O’Connor, who has over 35 years of experience in banking, previously held positions at Valley Bank and Dime Community Bank. Additionally, Raymond James initiated coverage of Hanover Bancorp with a Market Perform rating. Analyst Tim DeLacey from Raymond James highlighted that the company is at a profitability and growth inflection point following recent economic challenges. These developments reflect significant strategic moves by Hanover Bancorp as it navigates its current business environment.