HarborOne Bancorp (NASDAQ:HONE) Reaches New 52-Week High - Should You Buy?

Key Points

• HarborOne Bancorp reached a new 52-week high at $14.29 during trading, closing at $14.18 with a volume of 23,132 shares.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for the stock, with target prices ranging from $12.00 to $13.00.
• The company recently declared a quarterly dividend of $0.09, representing an annualized dividend yield of 2.6% and a payout ratio of 55.38%.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.29 and last traded at $14.18, with a volume of 23132 shares traded. The stock had previously closed at $14.13.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised HarborOne Bancorp to a "hold" rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of HarborOne Bancorp in a research note on Wednesday, October 8th. Finally, Piper Sandler upped their target price on HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

HarborOne Bancorp Stock Performance

The firm has a market capitalization of $606.05 million, a price-to-earnings ratio of 21.54 and a beta of 0.61. The business has a fifty day moving average price of $12.97 and a 200 day moving average price of $11.81.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. The company 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%. On average, analysts expect that HarborOne Bancorp, Inc. will post 0.83 earnings per share for the current year.

HarborOne Bancorp Announces Dividend

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

Institutional Trading of HarborOne Bancorp

A number of large investors have recently added to or reduced their stakes in HONE. CWM LLC boosted 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 worth $53,000 after purchasing an additional 1,326 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of HarborOne Bancorp during the 2nd quarter valued at $149,000. GC Wealth Management RIA LLC raised its holdings in shares of 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 valued at $162,000 after purchasing an additional 992 shares in the last quarter. Sei Investments Co. bought a new position in shares of HarborOne Bancorp during the 2nd quarter valued at $169,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in HarborOne Bancorp in the 1st quarter worth $176,000. 65.01% of the stock is currently owned by institutional investors.

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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