SCHEDULE: Fourthstone LLC Reports Stake in Hanover Bancorp

Fourthstone LLC and affiliated entities have updated their beneficial ownership filing for Hanover Bancorp, Inc., reporting a combined 2.02% stake.

Summary

• This filing is an amendment to a Schedule 13G, reporting changes in beneficial ownership of Hanover Bancorp, Inc. common stock.
• The reporting persons include Fourthstone LLC, Fourthstone Master Opportunity Fund Ltd., Fourthstone GP LLC, Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, and L. Phillip Stone, IV.
• The total aggregate amount beneficially owned by these reporting persons is 144,216 shares of common stock.
• This ownership represents 2.02% of the class of securities outstanding as of April 30, 2026.
• The reporting persons certify that these securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports a change in beneficial ownership without disclosing new financial performance or strategic shifts.

Positives

• The reporting persons are established investment entities and an individual associated with them, indicating professional investment activity.
• The filing confirms that the acquisition of shares was not for the purpose of influencing control, suggesting a passive investment approach.

Risks

• While not explicitly stated as a risk in this filing, any significant increase in beneficial ownership by a single entity or group could potentially lead to increased scrutiny or influence over the company's strategic decisions.
• The filing does not provide details on the specific investment strategy or rationale behind acquiring this stake, which could be a point of interest for other investors.

Future Outlook

No forward-looking statements or specific future outlook are provided in this filing, as it pertains to beneficial ownership reporting.

Management Comments

• Each of the Reporting Persons listed in this filing certify the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that effect.
• Fourthstone LLC acquired the Issuer's shares in the ordinary course of business as a registered investment adviser and not with the purpose nor with the effect of influencing the control of the Issuer.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures for institutional investors crossing certain ownership thresholds. This filing indicates a notable, though not controlling, stake by Fourthstone and its affiliates in Hanover Bancorp, Inc., which is typical for investment advisory firms managing client assets.

Stakeholder Impact

• Shareholders: The filing provides transparency regarding a significant institutional investor's stake, which may influence market perception.
• Management: The reporting persons' certification that the shares are not held to influence control suggests a non-activist investor stance, which may be viewed positively by management.

Next Steps

• The reporting persons will continue to monitor their beneficial ownership of Hanover Bancorp, Inc. shares.
• Future amendments to Schedule 13G will be filed if ownership levels change significantly.

Key Dates

Keywords

beneficial ownership, Schedule 13G, Hanover Bancorp, investment adviser, common stock, shareholder, SEC filing