HarborOne Bancorp, Inc. (NASDAQ:HONE) Sees Significant Growth in Short Interest

Key Points

• HarborOne Bancorp experienced a substantial increase in short interest, rising by 112.9% in September, bringing the total to 1,460,000 shares or 3.9% of the company's total shares.
• The company's shares rose by 3.6% to $13.96, with a market cap of $602.51 million and a P/E ratio of 21.48.
• A quarterly dividend of $0.09 was recently paid to shareholders, representing an annualized dividend yield of 2.6%.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 1,460,000 shares, an increase of 112.9% from the September 15th total of 685,800 shares. Currently, 3.9% of the company's shares are sold short. Based on an average daily trading volume, of 305,300 shares, the short-interest ratio is currently 4.8 days. Based on an average daily trading volume, of 305,300 shares, the short-interest ratio is currently 4.8 days. Currently, 3.9% of the company's shares are sold short.

Institutional Trading of HarborOne Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. lifted its position in HarborOne Bancorp by 2,617.3% during the 2nd quarter. Alliancebernstein L.P. now owns 988,905 shares of the financial services provider's stock worth $11,550,000 after buying an additional 952,512 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of HarborOne Bancorp by 1.7% during 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 during the period. Balyasny Asset Management L.P. bought a new position in HarborOne Bancorp in the second quarter valued at approximately $7,596,000. Qube Research & Technologies Ltd grew its stake in 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 valued at $6,903,000 after purchasing an additional 428,411 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in shares of HarborOne Bancorp in the second quarter valued at approximately $6,512,000. 65.01% of the stock is currently owned by institutional investors.

HarborOne Bancorp Stock Up 3.6%

Shares of HarborOne Bancorp stock traded up $0.48 on Monday, hitting $13.96. 462,615 shares of the company's stock traded hands, compared to its average volume of 602,385. The firm's 50-day moving average is $13.12 and its 200 day moving average is $11.92. HarborOne Bancorp has a 52-week low of $8.89 and a 52-week high of $14.29. The stock has a market cap of $602.51 million, a P/E ratio of 21.48 and a beta of 0.61.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $45.44 million for 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%. Equities research analysts forecast that HarborOne Bancorp will post 0.83 EPS for the current year.

HarborOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, September 3rd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. HarborOne Bancorp's dividend payout ratio (DPR) is presently 55.38%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HONE. Piper Sandler increased their price objective on shares of HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Weiss Ratings restated a "hold (c+)" rating on shares of HarborOne Bancorp in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of HarborOne Bancorp to a "hold" rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

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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