HarborOne Bancorp, Inc. (NASDAQ:HONE) Increases Dividend to $0.09 Per Share

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) declared a quarterly dividend on Thursday, June 26th, RTT News reports. Stockholders of record on Wednesday, July 9th will be given a dividend of 0.09 per share by the financial services provider on Wednesday, July 23rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, July 9th. This is a 800.0% increase from HarborOne Bancorp's previous quarterly dividend of $0.01.

HarborOne Bancorp has a dividend payout ratio of 39.6% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.3%

Shares of HONE traded down $0.03 during midday trading on Friday, reaching $11.60. 397,152 shares of the stock were exchanged, compared to its average volume of 228,539. HarborOne Bancorp has a 52 week low of $8.89 and a 52 week high of $14.00. The company's 50 day moving average is $11.28 and its two-hundred day moving average is $11.25. The company has a market capitalization of $499.73 million, a P/E ratio of 18.41 and a beta of 0.60.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). HarborOne Bancorp had a return on equity of 4.33% and a net margin of 8.13%. The firm had revenue of $41.36 million for the quarter, compared to the consensus estimate of $36.01 million. On average, sell-side analysts expect that HarborOne Bancorp will post 0.83 EPS for the current year.

Institutional Investors Weigh In On HarborOne Bancorp

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of HarborOne Bancorp by 80.0% during the 1st quarter. AQR Capital Management LLC now owns 85,675 shares of the financial services provider's stock worth $888,000 after purchasing an additional 38,072 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of HarborOne Bancorp by 350.3% during the 1st quarter. Jane Street Group LLC now owns 106,075 shares of the financial services provider's stock worth $1,100,000 after purchasing an additional 82,521 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of HarborOne Bancorp by 8.5% during the 1st quarter. Empowered Funds LLC now owns 134,279 shares of the financial services provider's stock worth $1,392,000 after purchasing an additional 10,523 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of HarborOne Bancorp by 70.5% during the 1st quarter. Millennium Management LLC now owns 463,597 shares of the financial services provider's stock worth $4,808,000 after purchasing an additional 191,719 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HONE has been the topic of a number of recent research reports. Seaport Res Ptn raised HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Janney Montgomery Scott reissued a "neutral" rating on shares of HarborOne Bancorp in a research report on Tuesday, April 29th. Finally, Wall Street Zen started coverage on HarborOne Bancorp in a research note on Thursday, May 22nd. They set a "hold" rating for the company.

About HarborOne Bancorp

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.