HarborOne Bancorp (NASDAQ:HONE) Reaches New 1-Year High - What's Next?

Key Points

• HarborOne Bancorp's stock reached a new 52-week high of $13.86 during trading, ending at $13.83, with a trading volume of 84,283 shares.
• Analysts have set a consensus rating of "Moderate Buy" for HONE shares, with an average price target of $13.00, partially due to strong quarterly earnings that beat expectations.
• The company recently declared a quarterly dividend of $0.09 per share, reflecting a 2.5% dividend yield and a payout ratio of 55.38%.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $13.86 and last traded at $13.83, with a volume of 84283 shares trading hands. The stock had previously closed at $13.63.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HONE shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of HarborOne Bancorp in a research report on Saturday, September 27th. Piper Sandler increased their price target on HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised HarborOne Bancorp to a "hold" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, HarborOne Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

HarborOne Bancorp Trading Up 3.8%

The company's 50-day simple moving average is $12.69 and its 200 day simple moving average is $11.67. The stock has a market cap of $610.89 million, a P/E ratio of 21.66 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. HarborOne Bancorp had a return on equity of 4.66% and a net margin of 8.43%.The company had revenue of $45.44 million during the quarter, compared to the consensus estimate of $32.39 million. Research analysts anticipate that HarborOne Bancorp, Inc. will post 0.83 earnings per share for the current fiscal year.

HarborOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $0.36 annualized dividend and a dividend yield of 2.5%. HarborOne Bancorp's dividend payout ratio (DPR) is presently 55.38%.

Hedge Funds Weigh In On HarborOne Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of HONE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in HarborOne Bancorp by 8.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,063 shares of the financial services provider's stock worth $888,000 after buying an additional 5,575 shares during the last quarter. GAMMA Investing LLC increased its holdings in HarborOne Bancorp by 1,777.0% in the 1st quarter. GAMMA Investing LLC now owns 19,558 shares of the financial services provider's stock worth $1,886,000 after acquiring an additional 18,516 shares during the last quarter. Twelve Points Wealth Management LLC bought a new stake in HarborOne Bancorp in the 1st quarter valued at about $266,000. CWM LLC raised its stake in HarborOne Bancorp by 35.3% in the 1st quarter. CWM LLC now owns 5,079 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 1,326 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in HarborOne Bancorp by 0.7% during the first quarter. Victory Capital Management Inc. now owns 288,142 shares of the financial services provider's stock valued at $2,988,000 after purchasing an additional 2,070 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

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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