Raymond James starts Hanover Bancorp with 'market perform' rating
27/08/2026 11:50
BUZZ-Raymond James starts Hanover Bancorp with 'market perform' rating ** Raymond James initiates coverage on Hanover Bancorp HNVR.O with "market perform" rating
** Brokerage says HNVR is a growing Long Island franchise at a profitability and growth inflection following headwinds during the recent rate-tightening cycle
** "We expect recent franchise investments to support solid balance sheet growth while significant loan repricing should fuel net interest margin and profitability higher"- Raymond James
** However, Raymond James flags near-term credit uncertainty due to Hanover's sizable exposure to rent-stabilized multifamily loans
** As of last close, stock up 16.6% YTD
(Reporting by Pragyan Kalita in Bengaluru)
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Raymond James starts Hanover Bancorp with 'market perform' rating