Hanover Bancorp (HNVR)
Market Price (6/20/2026): $23.27 | Market Cap: $168.2 MilSector: Financials | Industry: Regional Banks
Hanover Bancorp (HNVR)
Market Price (6/20/2026): $23.27Market Cap: $168.2 MilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, FCF Yield is 5.6% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -63% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Low stock price volatilityVol 12M is 23% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. | Trading close to highsDist 52W High is -3.5% Weak multi-year price returns3Y Excs Rtn is -32% | Key risksHNVR key risks include [1] a vulnerable, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, FCF Yield is 5.6% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -63% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending. |
| Trading close to highsDist 52W High is -3.5% |
| Weak multi-year price returns3Y Excs Rtn is -32% |
| Key risksHNVR key risks include [1] a vulnerable, Show more. |
Qualitative Assessment
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Hanover Bancorp (HNVR) stock has gained about 15% since 2/28/2026 because of the following key factors:
1. Hanover Bancorp exceeded Q1 2026 earnings expectations and demonstrated significant net interest margin expansion. The company reported adjusted diluted EPS of $0.54, surpassing the consensus estimate of $0.53. Additionally, net interest income for the quarter increased by 11.85% from the prior year, with the net interest margin expanding to 2.96%.
2. The company bolstered its capital position and optimized its balance sheet. In March 2026, Hanover Bancorp completed a $35 million private placement of subordinated notes. Furthermore, the company restructured $60.3 million of FHLB advances, resulting in approximately $40,000 in monthly interest expense savings.
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Hanover Bancorp (HNVR) stock has gained about 15% since 2/28/2026 because of the following key factors:
1. Hanover Bancorp exceeded Q1 2026 earnings expectations and demonstrated significant net interest margin expansion. The company reported adjusted diluted EPS of $0.54, surpassing the consensus estimate of $0.53. Additionally, net interest income for the quarter increased by 11.85% from the prior year, with the net interest margin expanding to 2.96%.
2. The company bolstered its capital position and optimized its balance sheet. In March 2026, Hanover Bancorp completed a $35 million private placement of subordinated notes. Furthermore, the company restructured $60.3 million of FHLB advances, resulting in approximately $40,000 in monthly interest expense savings.
3. A positive trend in the broader regional banking sector provided tailwinds. The S&P Regional Bank Index saw an 8.45% increase year-to-date through May 1, 2026, outperforming the S&P 500. This performance is attributed partly to stable Federal Reserve policy rates, which are expected to reinforce banking sector profitability, and improving net interest margins across FDIC-insured banks.
4. Hanover Bancorp highlighted a clear strategic focus on commercial banking and niche lending. The company's investor presentations in June 2026 emphasized its pivot towards commercial banking since 2021, coupled with a focus on niche lending and municipal funding. This strategy is aimed at capitalizing on market opportunities within the consolidated tri-state market, specifically in the Long Island and Greater New York City metropolitan area.
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Stock Movement Drivers
Fundamental Drivers
The 13.1% change in HNVR stock from 2/28/2026 to 6/19/2026 was primarily driven by a 62.7% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.59 | 23.28 | 13.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 73 | 74 | 1.8% |
| Net Income Margin (%) | 15.6% | 10.6% | -32.2% |
| P/E Multiple | 13.2 | 21.5 | 62.7% |
| Shares Outstanding (Mil) | 7 | 7 | 0.6% |
| Cumulative Contribution | 13.1% |
Market Drivers
2/28/2026 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HNVR | 13.1% | |
| Market (SPY) | 9.2% | 26.8% |
| Sector (XLF) | 4.7% | 44.8% |
Fundamental Drivers
The 3.2% change in HNVR stock from 11/30/2025 to 6/19/2026 was primarily driven by a 48.6% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.55 | 23.28 | 3.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 73 | 74 | 1.8% |
| Net Income Margin (%) | 15.6% | 10.6% | -32.2% |
| P/E Multiple | 14.4 | 21.5 | 48.6% |
| Shares Outstanding (Mil) | 7 | 7 | 0.6% |
| Cumulative Contribution | 3.2% |
Market Drivers
11/30/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HNVR | 3.2% | |
| Market (SPY) | 9.9% | 31.7% |
| Sector (XLF) | 1.3% | 48.1% |
Fundamental Drivers
The 4.8% change in HNVR stock from 5/31/2025 to 6/19/2026 was primarily driven by a 31.2% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.22 | 23.28 | 4.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 70 | 74 | 5.4% |
| Net Income Margin (%) | 14.0% | 10.6% | -24.1% |
| P/E Multiple | 16.4 | 21.5 | 31.2% |
| Shares Outstanding (Mil) | 7 | 7 | -0.1% |
| Cumulative Contribution | 4.8% |
Market Drivers
5/31/2025 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HNVR | 4.8% | |
| Market (SPY) | 28.1% | 30.1% |
| Sector (XLF) | 6.7% | 45.1% |
Fundamental Drivers
The 38.2% change in HNVR stock from 5/31/2023 to 6/19/2026 was primarily driven by a 258.1% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6192026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.85 | 23.28 | 38.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 67 | 74 | 9.9% |
| Net Income Margin (%) | 29.2% | 10.6% | -63.8% |
| P/E Multiple | 6.0 | 21.5 | 258.1% |
| Shares Outstanding (Mil) | 7 | 7 | -3.0% |
| Cumulative Contribution | 38.2% |
Market Drivers
5/31/2023 to 6/19/2026| Return | Correlation | |
|---|---|---|
| HNVR | 38.2% | |
| Market (SPY) | 85.7% | 27.2% |
| Sector (XLF) | 77.0% | 34.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HNVR Return | - | 3% | -12% | 34% | 2% | 2% | 26% |
| Peers Return | 123% | -29% | 17% | 0% | 27% | 20% | 182% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| HNVR Win Rate | - | 62% | 33% | 58% | 50% | 33% | |
| Peers Win Rate | 78% | 35% | 50% | 52% | 63% | 77% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HNVR Max Drawdown | - | - | -14% | -24% | -28% | -15% | |
| Peers Max Drawdown | -16% | -42% | -53% | -35% | -26% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DCOM, CUBI, CNOB, MCB, VLY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | HNVR | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.4% | -6.7% |
| % Gain to Breakeven | 11.6% | 7.1% |
| Time to Breakeven | 492 days | 31 days |
In The Past
Hanover Bancorp's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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In The Past
Hanover Bancorp's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hanover Bancorp (HNVR)
Hanover Bancorp (HNVR) serves as the holding company for Hanover Community Bank, a New York-chartered community commercial bank. The bank distinguishes itself by offering highly personalized and efficient services tailored to local needs within the New York metropolitan area. Its physical presence includes branches in Nassau, Queens, Kings (Brooklyn), and New York (Manhattan) Counties in New York, as well as Freehold in Monmouth County, New Jersey.
The bank provides a comprehensive suite of consumer and commercial banking services, focusing on organic loan and deposit growth. While initially serving the South Asian community in Nassau County, its strategic focus expanded to encompass a broader client base across western Long Island markets and New York City boroughs, particularly Queens and Brooklyn. Additionally, Hanover Community Bank caters to municipal deposit customers, further diversifying its clientele.
Since its recapitalization in 2012, Hanover Community Bank has achieved significant balance sheet growth through both organic expansion and strategic acquisitions. The company's management team leverages strong local community ties and extensive regulatory experience to maintain a focus on strong credit quality, a robust capital base, and a solid balance sheet free from troubled legacy assets.
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- A rapidly growing, community-focused M&T Bank for the New York City and Long Island region.
- The local, personalized alternative to national banks like Chase or Bank of America, serving the New York metro area.
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- Consumer Banking Services: Hanover Bancorp provides a range of financial products and services specifically designed for individual customers, including various types of loans and deposit accounts.
- Commercial Banking Services: Hanover Bancorp offers financial solutions and products tailored for businesses, encompassing commercial loans, business deposit accounts, and other corporate banking services.
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Hanover Bancorp (HNVR) is a community commercial bank that serves a diverse customer base, primarily consisting of individuals, local businesses, and government entities within the New York metro area.
The company does not sell primarily to other public companies that can be named and have symbols. Instead, its customer base is comprised of a broad range of clients across these categories:
- Individuals/Consumers: Hanover Bancorp provides differentiated consumer banking services to individuals residing in the New York metro area, including Nassau, Queens, Kings (Brooklyn), New York (Manhattan) Counties, New York, and Monmouth County, New Jersey. This includes services such as checking accounts, savings accounts, and various loan products.
- Local Businesses/Commercial Clients: The bank offers commercial banking services to local businesses and organizations, particularly in the western Long Island markets and New York City boroughs. These services include commercial loans, deposit accounts, and other business banking solutions tailored to local needs.
- Municipalities/Government Entities: Hanover Bancorp also serves municipal deposit customers, indicating that it provides banking services to local government agencies and public sector entities within its operating regions.
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Michael P. Puorro, Chairman & Chief Executive Officer
Mr. Puorro has over 35 years of banking experience and has led Hanover Community Bank as Chairman & Chief Executive Officer since 2012, and the holding company since 2016. Under his leadership, Hanover Bancorp successfully completed its Initial Public Offering (IPO) in May 2022. Prior to Hanover, Mr. Puorro was the Co-Chairman and President of Madison National Bancorp, Inc., and Madison National Bank, where he was a key member of an entrepreneurial group and executive management team that raised $32.5 million in capital from a private placement. He also served as Executive Vice President and Chief Financial Officer of New York Community Bancorp, Inc., and Roslyn Bancorp, Inc., where he was instrumental in coordinating growth from less than $1 billion to over $12 billion in assets. Mr. Puorro helped found Madison National Bank, which was subsequently sold to FNBNY Bancorp, and also founded First National Bank of New York (Melville) in 2005. He was also a former senior member in the Financial Services Group of KPMG LLP. As of February 12, 2026, he also serves as President of both the company and the bank.
Lance P. Burke, Executive Vice President & Chief Financial Officer
Mr. Burke joined Hanover in May 2021 as Deputy Chief Financial Officer and was appointed Executive Vice President & Chief Financial Officer in September 2021. He brings over 20 years of experience in the banking industry with extensive accounting, operations, and M&A expertise. Prior to Hanover, Mr. Burke served as Senior Vice President & Controller of Dime Bank (formerly BNB Bank) for 12 years, where he was integral to three acquisitions and one merger of equals. He began his banking career as a teller and then moved to Assistant Vice President of Financial Reporting at New York Community Bank, where he spent his first ten years.
Joseph F. Burns, Executive Vice President & Chief Lending Officer
Mr. Burns joined Hanover Bank in November 2023, bringing over 35 years of experience in the banking industry. He has held leadership positions in commercial banking, commercial real estate, and investment banking at institutions such as Chemical Bank, Key Corp., Merrill Lynch, and The Marshall Group. Before Hanover, Mr. Burns spent over 15 years at Valley Bank, serving in various management capacities, including First Senior Vice President and Regional President of New York State Commercial Banking.
Kevin Corbett, Executive Vice President & Chief Credit Officer
Mr. Corbett has over 40 years of experience in the banking industry, with extensive expertise in credit risk and portfolio management. He joined Hanover in 2020. Previously, Mr. Corbett served as Senior Vice President and Chief Credit Officer at Dime Community Bank (2017–2019) and Astoria Bank (2012–2017), where he was responsible for the credit quality of commercial and residential portfolios exceeding $15 billion. He also held the role of Senior Vice President and Chief Credit Risk Officer at Israel Discount Bank of New York, overseeing a commercial portfolio of over $7 billion.
John P. Vivona, First Senior Vice President & Chief Risk Officer
Mr. Vivona joined Hanover in 2023 and has over 35 years of experience in the banking industry. He has held prior Chief Risk Officer roles at BNB Bank and Alma Bank, as well as executive-level compliance positions at Newtek Bank, N.A., New York Community Bancorp, and The First National Bank of Long Island.
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The key risks to Hanover Bancorp's business include its significant exposure to real estate and geographic concentration, the holding company's reliance on dividends from its bank subsidiary, and the impact of interest rate volatility.
- Concentration in Real Estate and New York Region: Hanover Bancorp faces considerable risk due to its extensive exposure to commercial and residential real estate, particularly within the New York metropolitan area. This includes specific sensitivities related to rent-regulated multifamily assets and non-conforming mortgage products. This geographic and asset concentration makes the company highly susceptible to economic downturns or adverse changes in real estate market conditions in this region.
- Dividend Dependency on Bank Subsidiary: The holding company, Hanover Bancorp, Inc., relies heavily on dividends from its wholly-owned bank subsidiary to service its debt and fund common stock dividends. Should regulatory restrictions or the bank's financial performance limit these upstream dividends, the holding company may struggle to meet its financial obligations or maintain its current shareholder payouts.
- Interest Rate Volatility: Fluctuations in interest rates pose a significant risk to Hanover Bancorp, impacting its entire balance sheet, as well as its mortgage banking revenue and overall profitability. Changes in interest rates can affect the value of its loan portfolio, the cost of its funding, and customer demand for its lending products, potentially leading to adverse effects on its financial results.
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The emergence and growth of digital-only banks (neobanks/challenger banks) and other sophisticated fintech platforms that offer core banking services such as deposits, lending, and payments. These entities often operate with significantly lower overhead due to the absence of physical branches, enabling them to offer more competitive rates on deposits or lower fees, alongside highly convenient digital-first user experiences. This directly threatens Hanover Bancorp's traditional branch-based model and its emphasis on personalized, local service by appealing to a growing segment of customers who prioritize digital convenience and cost savings over in-person interactions and localized banking relationships.
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Hanover Bancorp (HNVR) operates as a community commercial bank, offering consumer and commercial banking services across specific counties in the New York metropolitan area: Nassau, Queens, Kings (Brooklyn), and New York (Manhattan) Counties in New York, and Monmouth County in New Jersey. The addressable markets for their main products and services can be estimated by examining the broader banking markets within these regions.
Commercial Banking Services
- New York State: The total deposits in New York-based financial institutions exceed $3.4 trillion. New York banks hold approximately $450 billion in commercial real estate (CRE) exposure. Small business loans under $1 million by New York banks totaled $18 billion in 2023.
- New Jersey: Banks in New Jersey held $431 billion in deposits as of the fourth quarter of 2024. Small business loans in New Jersey totaled $21.6 billion.
- New York City Metropolitan Area: The New York City Metropolitan Area generated a Gross Metropolitan Product (GMP) of US$2.299 trillion in 2023.
- Long Island (Nassau and Suffolk Counties): Long Island's Gross Domestic Product (GDP), which includes Nassau County, was $256 billion in 2023.
Consumer Banking Services
- New York State: Total mortgage originations in New York reached $85 billion in 2023.
- New Jersey: New home loans booked in New Jersey in 2024 totaled $29.1 billion.
- New York City Metropolitan Area: The New York City Metropolitan Area generated a Gross Metropolitan Product (GMP) of US$2.299 trillion in 2023, reflecting a large consumer base.
- Long Island (Nassau and Suffolk Counties): Long Island's Gross Domestic Product (GDP), which includes Nassau County, was $256 billion in 2023, indicating significant consumer economic activity.
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Hanover Bancorp (NASDAQ: HNVR) is expected to drive future revenue growth over the next two to three years through several key strategies:
- Continued Loan Growth: The company anticipates ongoing expansion in its loan portfolio, specifically in commercial and industrial (C&I) lending, residential loans, and Small Business Administration (SBA) loans. For instance, management expects continued growth in C&I lending in 2026, supported by a strong loan pipeline. In the twelve months ending March 31, 2024, the Bank's loan portfolio grew by 12.2%, primarily driven by these categories. Gains on the sale of SBA loans also significantly increased in the first quarter of 2024, demonstrating momentum in this area.
- Expansion of Deposit Base: Hanover Bancorp plans to increase its deposit activity, particularly focusing on C&I and municipal deposits. Management anticipates continued growth in deposit activity in 2026. Demand deposits increased by over 10% from December 31, 2024, highlighting the success of its C&I and Municipal banking initiatives. The company also continues to broaden its municipal deposit base, servicing numerous customer relationships.
- Strategic Branch Expansion: The company is pursuing geographical expansion to support its growth initiatives. Management expects further branch expansion in 2026, including plans to open a new full-service branch in Riverhead, NY, with a temporary office becoming operational by the first quarter of 2026. Older reports also indicated plans for expansion in New Jersey and Long Island.
- Net Interest Margin (NIM) Expansion: Hanover Bancorp has experienced an increase in its net interest margin, which contributes to higher net interest income. The Bank's net interest margin increased to 2.41% for the quarter ended March 31, 2024, from 2.40% in the prior linked quarter. This expansion has been attributed to factors such as reductions in the Fed Funds effective rate and the liability-sensitive nature of the Bank's balance sheet.
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Share Repurchases
- Hanover Bancorp approved a Share Repurchase Program on October 5, 2023, authorizing the repurchase of up to 366,050 shares, which represents approximately 5% of its outstanding common stock.
Share Issuance
- On March 12, 2026, Hanover Bancorp completed a private placement of $35 million in fixed-to-floating rate subordinated notes due 2036.
- These subordinated notes are intended to qualify as Tier 2 capital for regulatory purposes.
- The net proceeds from this issuance are designated to redeem $25 million of existing subordinated notes and for general corporate purposes, including contributing equity capital to its subsidiary, Hanover Community Bank.
Inbound Investments
- A significant inbound investment was the $35 million private placement of subordinated notes completed on March 12, 2026, by qualified institutional buyers and accredited investors.
Outbound Investments
- Hanover Bancorp's 2025 10-K filing mentions risks associated with "difficulties in integrating any businesses that we may acquire," indicating that opportunistic acquisitions are part of the company's growth strategy.
Capital Expenditures
- In the fourth quarter of 2025, Hanover Bancorp invested $317K in capital expenditures.
- Capital expenditures of $1.3 million absorb a large share of the company's operating cash flow.
- The company completed a core processing system conversion to FIS Horizon in February 2025, representing a focus for capital expenditures related to technology and infrastructure.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| How Low Can Hanover Bancorp Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.73 |
| Mkt Cap | 1.7 |
| Rev LTM | 448 |
| Op Inc LTM | - |
| FCF LTM | 147 |
| FCF 3Y Avg | 112 |
| CFO LTM | 153 |
| CFO 3Y Avg | 118 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 26.2% |
| Rev Chg 3Y Avg | 6.7% |
| Rev Chg Q | 21.2% |
| QoQ Delta Rev Chg LTM | 4.9% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 31.5% |
| CFO/Rev 3Y Avg | 31.9% |
| FCF/Rev LTM | 29.9% |
| FCF/Rev 3Y Avg | 28.1% |
Price Behavior
| Market Price | $23.28 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 05/11/2022 | |
| Distance from 52W High | -3.5% | |
| 50 Days | 200 Days | |
| DMA Price | $23.01 | $22.29 |
| DMA Trend | up | up |
| Distance from DMA | 1.2% | 4.4% |
| 3M | 1YR | |
| Volatility | 21.8% | 23.0% |
| Downside Capture | 2.42 | 59.10 |
| Upside Capture | 40.23 | 57.71 |
| Correlation (SPY) | 20.7% | 30.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.75 | 0.66 | 0.64 | 0.74 | 0.67 | 0.50 |
| Up Beta | 1.19 | 1.13 | 0.78 | 0.76 | 0.99 | 0.59 |
| Down Beta | 0.89 | 0.50 | 0.79 | 0.64 | 0.47 | 0.63 |
| Up Capture | 20% | 41% | 66% | 66% | 45% | 13% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 9 | 19 | 28 | 53 | 105 | 319 |
| Down Capture | 113% | 17% | 40% | 87% | 78% | 59% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 20 | 31 | 62 | 131 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HNVR | |
|---|---|---|---|---|
| HNVR | 13.7% | 23.1% | 0.48 | - |
| Sector ETF (XLF) | 8.3% | 14.6% | 0.33 | 45.0% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 30.1% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 7.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -10.5% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 33.5% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | 14.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HNVR | |
|---|---|---|---|---|
| HNVR | 7.6% | 27.6% | 0.34 | - |
| Sector ETF (XLF) | 9.3% | 18.6% | 0.37 | 24.3% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 19.5% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 3.1% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 6.2% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 14.6% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 7.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HNVR | |
|---|---|---|---|---|
| HNVR | 3.7% | 27.6% | 0.34 | - |
| Sector ETF (XLF) | 13.0% | 22.2% | 0.54 | 24.3% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 19.5% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 3.1% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 6.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 14.6% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 7.3% |
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Returns Analyses
Earnings Returns History
Updated 6/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/27/2026 | 4.1% | 3.9% | 4.8% |
| 1/29/2026 | -3.5% | -2.3% | -11.6% |
| 10/30/2025 | 0.2% | 6.7% | 9.2% |
| 7/23/2025 | -2.0% | -6.1% | -4.8% |
| 4/23/2025 | 3.1% | 9.8% | 9.2% |
| 1/29/2025 | 1.0% | 1.8% | -8.7% |
| 10/23/2024 | 0.1% | 3.4% | 21.8% |
| 7/24/2024 | -6.2% | -0.2% | -0.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 8 |
| # Negative | 5 | 7 | 9 |
| Median Positive | 0.7% | 3.7% | 7.6% |
| Median Negative | -2.0% | -1.5% | -0.9% |
| Max Positive | 4.1% | 23.1% | 21.8% |
| Max Negative | -6.2% | -6.1% | -11.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/27/2026 | 4.1% | 3.9% | 4.8% |
| 1/29/2026 | -3.5% | -2.3% | -11.6% |
| 10/30/2025 | 0.2% | 6.7% | 9.2% |
| 7/23/2025 | -2.0% | -6.1% | -4.8% |
| 4/23/2025 | 3.1% | 9.8% | 9.2% |
| 1/29/2025 | 1.0% | 1.8% | -8.7% |
| 10/23/2024 | 0.1% | 3.4% | 21.8% |
| 7/24/2024 | -6.2% | -0.2% | -0.3% |
| 4/17/2024 | 3.8% | 23.1% | 20.9% |
| 1/24/2024 | 0.7% | 2.5% | -0.4% |
| 10/26/2023 | 0.0% | -0.6% | -0.9% |
| 7/27/2023 | -0.3% | 1.2% | 2.4% |
| 4/27/2023 | 0.4% | -0.1% | -0.4% |
| 1/25/2023 | 0.7% | -1.5% | -0.3% |
| 10/26/2022 | 0.0% | 4.9% | 3.9% |
| 7/27/2022 | 0.7% | 3.4% | 6.0% |
| 5/16/2022 | -0.5% | -2.6% | -4.1% |
| SUMMARY STATS | |||
| # Positive | 12 | 10 | 8 |
| # Negative | 5 | 7 | 9 |
| Median Positive | 0.7% | 3.7% | 7.6% |
| Median Negative | -2.0% | -1.5% | -0.9% |
| Max Positive | 4.1% | 23.1% | 21.8% |
| Max Negative | -6.2% | -6.1% | -11.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 02/13/2024 | 10-QT |
| 09/30/2023 | 12/21/2023 | 10-K |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/13/2023 | 10-Q |
| 09/30/2022 | 12/23/2022 | 10-K |
| 06/30/2022 | 08/12/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 02/13/2024 | 10-QT |
| 09/30/2023 | 12/21/2023 | 10-K |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/13/2023 | 10-Q |
| 09/30/2022 | 12/23/2022 | 10-K |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 05/11/2022 | 424B4 |
| 06/30/2021 | 08/18/2021 | 10-Q |
| 03/31/2021 | 06/02/2021 | 10-Q |
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Golden, Robert | See Footnote 2 | Sell | 6162026 | 24.21 | 661 | 16,005 | 4,419,272 | Form | |
| 2 | Golden, Robert | See Footnote 2 | Sell | 6162026 | 24.02 | 3,763 | 90,379 | 4,399,485 | Form | |
| 3 | Golden, Robert | See Footnote 2 | Sell | 6122026 | 24.20 | 8,419 | 203,759 | 4,524,354 | Form | |
| 4 | Golden, Robert | Direct | Sell | 6042026 | 23.10 | 1,847 | 42,668 | 654,705 | Form | |
| 5 | Golden, Robert | Direct | Sell | 6022026 | 23.71 | 1,514 | 35,893 | 715,676 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Golden, Robert | See Footnote 2 | Sell | 6162026 | 24.21 | 661 | 16,005 | 4,419,272 | Form | |
| 2 | Golden, Robert | See Footnote 2 | Sell | 6162026 | 24.02 | 3,763 | 90,379 | 4,399,485 | Form | |
| 3 | Golden, Robert | See Footnote 2 | Sell | 6122026 | 24.20 | 8,419 | 203,759 | 4,524,354 | Form | |
| 4 | Golden, Robert | Direct | Sell | 6042026 | 23.10 | 1,847 | 42,668 | 654,705 | Form | |
| 5 | Golden, Robert | Direct | Sell | 6022026 | 23.71 | 1,514 | 35,893 | 715,676 | Form | |
| 6 | Golden, Robert | Direct | Sell | 5292026 | 23.53 | 1,295 | 30,471 | 745,942 | Form | |
| 7 | Golden, Robert | Direct | Sell | 5212026 | 23.01 | 1,012 | 23,291 | 759,406 | Form | |
| 8 | Golden, Robert | Direct | Sell | 5212026 | 22.79 | 2,259 | 51,483 | 775,065 | Form | |
| 9 | Golden, Robert | See Footnote 2 | Sell | 2092026 | 23.60 | 700 | 16,520 | 4,610,449 | Form | |
| 10 | Golden, Robert | See Footnote 2 | Sell | 2092026 | 23.50 | 500 | 11,750 | 4,607,363 | Form | |
| 11 | Golden, Robert | See Footnote 1 | Sell | 11062025 | 21.25 | 5,000 | 106,248 | 1,716,301 | Form |
Industry Resources
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| Federal Reserve |
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| FinViz |
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