Stock fact sheet · data as of
Hanover Bancorp, Inc. (HNVR): fair value, margin of safety and Wheel Score
Ticker symbol HNVR · Financial Services · Banks - Regional · United States · Value
Is HNVR undervalued?
Hanover Bancorp, Inc. (HNVR) closed at 23.01 on 5 Nov 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 38.24, which puts the price 40% below it. 6 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 9 models disagree widely: GLS Growth gives 4.14 while 10 Cap gives 83.74. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, HNVR is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 66, growth score 16, out of 100).
Nine valuation models for HNVR
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 41.45 | +80% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 29.77 | +29% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 67.24 | +192% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 28.37 | +23% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 4.14 | -82% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 83.74 | +264% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 67.81 | +195% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 5.89 | -74% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 15.72 | -32% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -272.41 | -1284% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 28.50 | +24% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - HNVR passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.4 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC 2.2%, ROE 3.7%, ROA 0.3% - with debt at 0.68 times equity and a free-cash-flow yield of 16.2%.
The dividend yield is 1.74% at a payout ratio of 29%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Other Revenue 53%, Service Charges On Deposit Accounts 47% (quarter Q2 FY2026).
Institutional ownership scores 3/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 2.2% |
|---|---|---|---|
| GLS Moat | 4.4 / 10 | ROE | 3.7% |
| Debt / equity | 0.68 | ROA | 0.3% |
| Free-cash-flow yield | 16.2% | Payout ratio | 29% |
| Institutions | 3 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 32: No options
HNVR has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (32 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 14k shares a day on a market cap of $162M, with a beta of 0.11 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $162M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 40% below fair value | |
| Premium | Weak | no option data | |
| Moat | Fair | moat 4.4/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.11, $162M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for HNVR in the nightly calendar. The shares go ex-dividend on 10 Nov 2026 (0.1000 per share), so a covered call sold before then carries a small early-assignment risk around that date.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Hanover Bancorp, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| JDVB JD Bancshares, Inc. | 47.25 | 39.11 | -21% | 19No options | $162M |
| FMBM F & M Bank Corp. | 45.55 | 61.42 | +26% | 32No options | $162M |
| AMBK American Bank Incorporated | 25.51 | 27.66 | +8% | 22No options | $162M |
| BKGM BankGuam Holding Co. | 9,000.00 | 32,907.51 | +73% | 30No options | $164M |
| MNAT Marquette National Corporation | 37.55 | 82.25 | +54% | 34No options | $165M |
| WRIV White River Bancshares Co. | 34.00 | 33.12 | -3% | 19No options | $166M |
| SFIGA STAR Financial Group, Inc. | 60.06 | 201.52 | +70% | 32No options | $166M |
| CMRB First Commerce Bank | 7.55 | 9.28 | +19% | 27No options | $157M |
| BKUTK Bank of Utica | 671.06 | 3,131.50 | +79% | 30No options | $168M |
| MNSB MainStreet Bancshares, Inc. | 21.96 | 28.83 | +24% | 30No options | $156M |
| SLBK Skyline Bankshares, Inc. | 27.50 | 71.14 | +61% | 33No options | $156M |
| TRCY Tri City Bankshares Corporation | 18.99 | 27.16 | +30% | 32No options | $169M |
⚖ Compare HNVR with 7 of them All Financial Services stocks →
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about HNVR
Is HNVR undervalued right now?
By the GLS models, yes: at 23.01 the stock is 40% below the average fair value of 38.24 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of HNVR and what does it mean?
HNVR has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for HNVR?
38.24 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Hanover Bancorp, Inc. report earnings next?
No upcoming earnings date is recorded for HNVR in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does HNVR have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on HNVR, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.