Piper Sandler Increases HarborOne Bancorp (NASDAQ:HONE) Price Target to $13.00

Key Points

• Analysts at Piper Sandler have raised the price target for HarborOne Bancorp from $12.00 to $13.00, indicating a potential upside of 5.44% based on the company's current stock price.
• The company recently reported earnings of $0.23 EPS for the last quarter, surpassing estimates, with a revenue of $45.44 million.
• Institutional investors now hold 65.01% of HarborOne Bancorp's stock, with significant acquisitions noted by several firms in recent quarters.
• HarborOne Bancorp's shares traded up 2.7% to $12.33, with a trading volume of 44,930 shares compared to an average of 283,090 shares.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) had its target price increased by analysts at Piper Sandler from $12.00 to $13.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target suggests a potential upside of 6.12% from the company's previous close.

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

HarborOne Bancorp Stock Up 0.6%

Shares of HarborOne Bancorp stock traded up $0.07 during trading hours on Friday, reaching $12.25. 137,474 shares of the company's stock were exchanged, compared to its average volume of 283,698. HarborOne Bancorp has a 1 year low of $8.89 and a 1 year high of $13.73. The company has a market capitalization of $527.67 million, a P/E ratio of 18.85 and a beta of 0.59. The business has a fifty day moving average of $11.67 and a two-hundred day moving average of $11.26.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in shares of HarborOne Bancorp by 128.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,507 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 2,538 shares in the last quarter. CWM LLC grew its holdings in shares of HarborOne Bancorp by 35.3% in the first quarter. CWM LLC now owns 5,079 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 1,326 shares in the last quarter. Quarry LP acquired a new position in shares of HarborOne Bancorp in the fourth quarter valued at approximately $57,000. Quantbot Technologies LP grew its holdings in shares of HarborOne Bancorp by 18.3% in the fourth quarter. Quantbot Technologies LP now owns 6,677 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 1,033 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of HarborOne Bancorp in the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds own 65.01% of the company's stock.

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.