HarborOne Bancorp, Inc. (NASDAQ:HONE) Given Average Rating of "Moderate Buy" by Analysts

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 recommendation of "Moderate Buy" from the three research firms that are presently covering the company, MarketBeat.com 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 12-month price target among brokerages that have issued a report on the stock in the last year is $13.00.

Several research firms have recently weighed in on HONE. Wall Street Zen raised HarborOne Bancorp to a "hold" rating in a research note on Friday, August 22nd. Piper Sandler boosted their price target on HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th.

HarborOne Bancorp Stock Performance

HarborOne Bancorp stock traded down $0.08 during midday trading on Monday, reaching $12.78. 149,312 shares of the company were exchanged, compared to its average volume of 180,207. The company has a market capitalization of $551.58 million, a price-to-earnings ratio of 19.66 and a beta of 0.63. The firm's 50-day simple moving average is $12.16 and its 200-day simple moving average is $11.34. HarborOne Bancorp has a 1 year low of $8.89 and a 1 year high of $13.73.

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

HarborOne Bancorp Dividend Announcement

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

Hedge Funds Weigh In On HarborOne Bancorp

Several large investors have recently added to or reduced their stakes in HONE. Alliancebernstein L.P. lifted its stake in HarborOne Bancorp by 2,617.3% during the second quarter. Alliancebernstein L.P. now owns 988,905 shares of the financial services provider's stock worth $11,550,000 after purchasing an additional 952,512 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in HarborOne Bancorp during the 2nd quarter worth $7,596,000. ABC Arbitrage SA acquired a new position in HarborOne Bancorp during the 2nd quarter worth $6,512,000. Qube Research & Technologies Ltd lifted its holdings in shares of HarborOne Bancorp by 263.5% in the second quarter. Qube Research & Technologies Ltd now owns 590,976 shares of the financial services provider's stock valued at $6,903,000 after buying an additional 428,411 shares during the period. Finally, Credit Industriel ET Commercial acquired a new stake in shares of HarborOne Bancorp in the second quarter valued at $3,878,000. 65.01% of the stock is currently owned by institutional investors.

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.