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

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) declared 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 $0.36 annualized dividend and a dividend yield of 3.04%.

HarborOne Bancorp has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of HONE stock traded down $0.11 during mid-day trading on Thursday, hitting $11.85. 8,642 shares of the stock traded hands, compared to its average volume of 281,366. The firm has a market cap of $510.44 million, a price-to-earnings ratio of 18.26 and a beta of 0.59. The company's 50-day simple moving average is $11.70 and its 200-day simple moving average is $11.28. HarborOne Bancorp has a twelve month low of $8.89 and a twelve month high of $13.73.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last released 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 analyst estimates of $32.39 million. HarborOne Bancorp had a return on equity of 4.66% and a net margin of 8.43%. Analysts forecast that HarborOne Bancorp will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of HarborOne Bancorp by 70.5% during the first quarter. Millennium Management LLC now owns 463,597 shares of the financial services provider's stock worth $4,808,000 after buying an additional 191,719 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of HarborOne Bancorp by 350.3% during the first quarter. Jane Street Group LLC now owns 106,075 shares of the financial services provider's stock valued at $1,100,000 after purchasing an additional 82,521 shares during the period. AQR Capital Management LLC raised its holdings in shares of HarborOne Bancorp by 80.0% during the first quarter. AQR Capital Management LLC now owns 85,675 shares of the financial services provider's stock valued at $888,000 after purchasing an additional 38,072 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of HarborOne Bancorp by 8.5% during the first quarter. Empowered Funds LLC now owns 134,279 shares of the financial services provider's stock valued at $1,392,000 after purchasing an additional 10,523 shares during the period. 65.01% of the stock is 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.

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