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

Key Points

• HarborOne Bancorp, Inc. has received an average consensus recommendation of "Moderate Buy" from analysts, with a 12-month price target of $13.00.
• The company reported a net margin of 8.43% and earnings per share (EPS) of $0.23 for the latest quarter, exceeding estimates.
• A quarterly dividend of $0.09 per share has been declared, representing an annualized dividend yield of 3.1%.

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the three brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.00.

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Seaport Res Ptn upgraded HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen assumed coverage on HarborOne Bancorp in a research report on Thursday, May 22nd. They set a "hold" rating on the stock. Finally, Janney Montgomery Scott reiterated a "neutral" rating on shares of HarborOne Bancorp in a research report on Tuesday, April 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HONE. Commonwealth Equity Services LLC lifted its holdings in HarborOne Bancorp by 31.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,678 shares of the financial services provider's stock valued at $197,000 after purchasing an additional 3,993 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of HarborOne Bancorp in the 4th quarter worth $81,000. Vanguard Group Inc. increased its stake in shares of HarborOne Bancorp by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 2,247,931 shares of the financial services provider's stock worth $26,593,000 after acquiring an additional 75,328 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of HarborOne Bancorp by 78.9% in the 4th quarter. JPMorgan Chase & Co. now owns 216,837 shares of the financial services provider's stock worth $2,565,000 after acquiring an additional 95,659 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in shares of HarborOne Bancorp by 27.6% in the 4th quarter. Trexquant Investment LP now owns 89,327 shares of the financial services provider's stock worth $1,057,000 after acquiring an additional 19,300 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

HarborOne Bancorp Trading Down 0.3%

HarborOne Bancorp stock traded down $0.04 during mid-day trading on Thursday, hitting $11.72. The company had a trading volume of 30,340 shares, compared to its average volume of 278,351. HarborOne Bancorp has a 12-month low of $8.89 and a 12-month high of $13.73. The company's fifty day moving average is $11.75 and its 200-day moving average is $11.27. The company has a market capitalization of $505.62 million, a price-to-earnings ratio of 17.98 and a beta of 0.60.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.23 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. As a group, sell-side analysts expect that HarborOne Bancorp will post 0.83 EPS for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The company 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 $0.09 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 3.1%. HarborOne Bancorp's dividend payout ratio (DPR) 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.