Brokerages Set HarborOne Bancorp, Inc. (NASDAQ:HONE) Price Target at $13.00

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) has received an average recommendation of "Moderate Buy" from the three ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.00.

HONE has been the topic of several research analyst reports. Wall Street Zen initiated coverage on HarborOne Bancorp in a research note on Thursday, May 22nd. They issued a "hold" rating on the stock. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of HarborOne Bancorp in a research note on Tuesday, April 29th. Finally, Seaport Res Ptn raised HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th.

HarborOne Bancorp Trading Up 1.8%

Shares of NASDAQ HONE traded up $0.20 during midday trading on Friday, hitting $11.45. The stock had a trading volume of 268,037 shares, compared to its average volume of 203,888. The company has a market capitalization of $493.39 million, a price-to-earnings ratio of 17.35 and a beta of 0.60. HarborOne Bancorp has a 1-year low of $8.89 and a 1-year high of $14.00. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average price of $10.59 and a 200 day moving average price of $11.53.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $41.36 million during the quarter, compared to analyst estimates of $36.01 million. HarborOne Bancorp had a net margin of 8.61% and a return on equity of 4.63%. On average, analysts predict that HarborOne Bancorp will post 0.83 earnings per share for the current year.

HarborOne Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Wednesday, April 9th. HarborOne Bancorp's dividend payout ratio (DPR) is presently 57.14%.

Hedge Funds Weigh In On HarborOne Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its position in HarborOne Bancorp by 2.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,693,131 shares of the financial services provider's stock worth $67,350,000 after acquiring an additional 131,602 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of HarborOne Bancorp by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,592,784 shares of the financial services provider's stock valued at $30,673,000 after acquiring an additional 47,592 shares in the last quarter. Vanguard Group Inc. raised its position in shares of HarborOne Bancorp by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 2,247,931 shares of the financial services provider's stock valued at $26,593,000 after acquiring an additional 75,328 shares in the last quarter. Millennium Management LLC raised its position in shares of HarborOne Bancorp by 70.5% during the 1st quarter. Millennium Management LLC now owns 463,597 shares of the financial services provider's stock valued at $4,808,000 after acquiring an additional 191,719 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of HarborOne Bancorp by 5.7% during the 4th quarter. Northern Trust Corp now owns 364,935 shares of the financial services provider's stock valued at $4,317,000 after acquiring an additional 19,600 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

About HarborOne Bancorp

HarborOne Bancorp, Inc operates as the holding company for HarborOne Bank that provides financial services to individuals, families, small and mid-size businesses, and municipalities. The company operates in two segments, HarborOne Bank and HarborOne Mortgage. Its primary deposit products include checking, money market, savings, and term certificate of deposit accounts; and primary lending products comprise commercial real estate, commercial, residential mortgages, home equity, and consumer loans.