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

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the three analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.00.

A number of research analysts have issued reports on the company. Seaport Res Ptn upgraded HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen began coverage on HarborOne Bancorp in a research note on Thursday, May 22nd. They set a "hold" rating for the company. Finally, Janney Montgomery Scott restated a "neutral" rating on shares of HarborOne Bancorp in a research note on Tuesday, April 29th.

Institutional Investors Weigh In On HarborOne Bancorp

A number of hedge funds have recently made changes to their positions in HONE. Rhino Investment Partners Inc purchased a new stake in HarborOne Bancorp during the fourth quarter valued at approximately $3,185,000. 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 valued at $4,808,000 after buying an additional 191,719 shares during the last quarter. Nuveen LLC bought a new position in shares of HarborOne Bancorp during the first quarter valued at approximately $1,484,000. T. Rowe Price Investment Management Inc. grew its stake in shares of HarborOne Bancorp by 2.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,693,131 shares of the financial services provider's stock valued at $67,350,000 after buying an additional 131,602 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of HarborOne Bancorp by 306.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 141,343 shares of the financial services provider's stock valued at $1,672,000 after buying an additional 106,526 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

HarborOne Bancorp Stock Performance

Shares of HONE stock opened at $10.97 on Wednesday. The firm has a market cap of $472.70 million, a P/E ratio of 17.41 and a beta of 0.60. HarborOne Bancorp has a fifty-two week low of $8.89 and a fifty-two week high of $14.00. The business's 50 day moving average price is $10.95 and its 200-day moving average price is $11.36.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). The firm had revenue of $41.36 million during the quarter, compared to analysts' expectations of $36.01 million. HarborOne Bancorp had a net margin of 8.13% and a return on equity of 4.33%. As a group, equities analysts predict that HarborOne Bancorp will post 0.83 EPS for the current year.

HarborOne Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were given a $0.01 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. HarborOne Bancorp's payout ratio is 57.14%.

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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