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

Key Points

• HarborOne Bancorp has an average broker rating of "Moderate Buy" with a 12-month price target of $13.00, based on recommendations from three covering brokerages.
• Several institutional investors have significantly increased their stakes, including Alliancebernstein L.P., which boosted its holdings by 2,617.3%, now owning nearly 1 million shares valued at approximately $11.55 million.
• The company recently reported a quarterly earnings per share of $0.23, exceeding estimates, with revenue of $45.44 million, compared to expectations of $32.39 million.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the three brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation 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 equities research analysts have commented on the stock. Wall Street Zen raised shares of HarborOne Bancorp to a "hold" rating in a report on Friday, August 22nd. Piper Sandler upped their price objective on shares of HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, July 25th.

Institutional Investors Weigh In On HarborOne Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its holdings 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 valued at $11,550,000 after purchasing an additional 952,512 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of HarborOne Bancorp by 1.7% in the second quarter. Geode Capital Management LLC now owns 935,802 shares of the financial services provider's stock worth $10,932,000 after buying an additional 15,678 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of HarborOne Bancorp in the second quarter worth about $7,596,000. 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 worth $6,903,000 after buying an additional 428,411 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of HarborOne Bancorp in the second quarter worth about $6,512,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

HarborOne Bancorp Stock Performance

HONE opened at $13.63 on Friday. The firm has a market cap of $588.27 million, a P/E ratio of 20.97 and a beta of 0.63. The firm has a 50-day moving average of $12.52 and a 200 day moving average of $11.53. HarborOne Bancorp has a fifty-two week low of $8.89 and a fifty-two week high of $13.73.

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

HarborOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.36 annualized dividend and a yield of 2.6%. HarborOne Bancorp's dividend payout ratio is 55.38%.

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.

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