HarborOne Bancorp, Inc. (NASDAQ:HONE) Announces $0.09 Quarterly Dividend

Key Points

• HarborOne Bancorp has declared a quarterly dividend of $0.09 per share, with a total annualized dividend of $0.36 and a yield of 3.04%.
• As of Thursday, shares of HONE traded at $11.85, with a market capitalization of $510.44 million and a price-to-earnings ratio of 18.26.
• Equities analysts expect the company to earn $1.01 per share next year, allowing for a future payout ratio of 35.6%, indicating the dividend is well covered by earnings.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Stockholders of record on Wednesday, September 3rd will be paid a dividend of 0.09 per share by the financial services provider on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, September 3rd.

HarborOne Bancorp has a dividend payout ratio of 39.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HarborOne Bancorp to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 35.6%.

HarborOne Bancorp Price Performance

Shares of NASDAQ HONE traded up $0.11 during trading hours on Monday, hitting $11.72. 202,755 shares of the company's stock were exchanged, compared to its average volume of 283,250. HarborOne Bancorp has a 1-year low of $8.89 and a 1-year high of $13.73. The stock has a market capitalization of $504.90 million, a price-to-earnings ratio of 18.03 and a beta of 0.60. The company's 50-day moving average price is $11.71 and its 200-day moving average price is $11.27.

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

Analyst Ratings Changes

Several research firms recently weighed in on HONE. Wall Street Zen started coverage on shares of HarborOne Bancorp in a research note on Thursday, May 22nd. They issued a "hold" rating for the company. Janney Montgomery Scott reiterated a "neutral" rating on shares of HarborOne Bancorp in a research report on Tuesday, April 29th. Piper Sandler boosted their price objective on HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Seaport Res Ptn raised HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th.

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.