HarborOne Bancorp, Inc. (NASDAQ:HONE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• HarborOne Bancorp, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with two hold ratings and one strong buy rating, along with an average twelve-month target price of $13.00.
• The company reported earnings of $0.23 EPS for the last quarter, exceeding estimates, and had revenue of $45.44 million, significantly above the projected amount.
• HarborOne Bancorp declared a quarterly dividend of $0.09, with an annual yield of 2.8%, signaling a healthy return for investors.

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) have earned a consensus rating of "Moderate Buy" from the three brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.00.

A number of equities research analysts have recently weighed in on HONE shares. Piper Sandler lifted their price objective on HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Wall Street Zen upgraded HarborOne Bancorp to a "hold" rating in a research report on Friday, August 22nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans purchased a new position in HarborOne Bancorp during the second quarter valued at $581,000. Water Island Capital LLC purchased a new position in HarborOne Bancorp during the second quarter valued at $230,000. Rafferty Asset Management LLC raised its stake in HarborOne Bancorp by 45.1% during the second quarter. Rafferty Asset Management LLC now owns 36,368 shares of the financial services provider's stock valued at $425,000 after buying an additional 11,306 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in HarborOne Bancorp during the second quarter valued at $214,000. Finally, Balyasny Asset Management L.P. purchased a new position in HarborOne Bancorp during the second quarter valued at $7,596,000. Hedge funds and other institutional investors own 65.01% of the company's stock.

HarborOne Bancorp Stock Performance

HONE traded down $0.03 on Monday, hitting $12.97. 273,261 shares of the company were exchanged, compared to its average volume of 180,263. The firm has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $11.35. HarborOne Bancorp has a 12 month low of $8.89 and a 12 month high of $13.73. The stock has a market capitalization of $559.79 million, a PE ratio of 19.95 and a beta of 0.63.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. HarborOne Bancorp had a return on equity of 4.66% and a net margin of 8.43%.The business had revenue of $45.44 million for the quarter, compared to analyst estimates of $32.39 million. On average, equities analysts expect that HarborOne Bancorp will post 0.83 earnings per share for the current year.

HarborOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 2.8%. HarborOne Bancorp's payout ratio is presently 55.38%.

HarborOne Bancorp Company Profile

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.