HarborOne Bancorp (NASDAQ:HONE) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• HarborOne Bancorp's stock has been given a "Hold (C+)" rating by Weiss Ratings, with analysts noting a consensus rating of "Moderate Buy" and a target price of $13.00.
• The company's recent earnings report showed an EPS of $0.23, surpassing estimates, and revenue of $45.44 million, well above analyst expectations of $32.39 million.
• Institutional investors own 65.01% of HarborOne Bancorp's stock, with several hedge funds increasing their holdings in the company recently.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report)'s stock had its "hold (c+)" rating reiterated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the stock. Piper Sandler increased their target price on shares of HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wall Street Zen raised shares of HarborOne Bancorp to a "hold" rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, HarborOne Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

HarborOne Bancorp Trading Down 0.1%

HONE stock opened at $13.94 on Wednesday. The stock has a market capitalization of $601.65 million, a P/E ratio of 21.45 and a beta of 0.61. HarborOne Bancorp has a 12 month low of $8.89 and a 12 month high of $14.21. The firm has a 50-day moving average price of $12.81 and a 200-day moving average price of $11.72.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The firm had revenue of $45.44 million during the quarter, compared to analysts' expectations of $32.39 million. HarborOne Bancorp had a net margin of 8.43% and a return on equity of 4.66%. As a group, equities analysts predict that HarborOne Bancorp will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. GC Wealth Management RIA LLC raised its holdings in HarborOne Bancorp by 7.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 13,848 shares of the financial services provider's stock worth $162,000 after purchasing an additional 992 shares during the last quarter. First Trust Advisors LP raised its holdings in HarborOne Bancorp by 4.0% during the 2nd quarter. First Trust Advisors LP now owns 27,548 shares of the financial services provider's stock worth $322,000 after purchasing an additional 1,058 shares during the last quarter. Genesis Wealth Advisors LLC raised its holdings in HarborOne Bancorp by 4.1% during the 2nd quarter. Genesis Wealth Advisors LLC now owns 31,357 shares of the financial services provider's stock worth $366,000 after purchasing an additional 1,249 shares during the last quarter. CWM LLC raised its holdings in HarborOne Bancorp by 35.3% during the 1st quarter. CWM LLC now owns 5,079 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in HarborOne Bancorp by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 288,142 shares of the financial services provider's stock worth $2,988,000 after purchasing an additional 2,070 shares during the last quarter. Institutional investors own 65.01% of the company's stock.

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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