HarborOne Bancorp (NASDAQ:HONE) Sets New 1-Year High - Here's Why

Key Points

• HarborOne Bancorp recently reached a new 52-week high of $13.73 during trading, reflecting increased investor interest.
• Research firms have maintained a consensus rating of "Moderate Buy" for HONE, with Piper Sandler raising the target price to $13.00.
• The company reported strong earnings with an EPS of $0.23, surpassing estimates, and announced a quarterly dividend of $0.09, yielding 2.6% annually.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $13.73 and last traded at $13.58, with a volume of 33473 shares changing hands. The stock had previously closed at $13.63.

Wall Street Analyst Weigh In

Several research firms have commented on HONE. Piper Sandler raised their target price on shares of HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of HarborOne Bancorp to a "hold" rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

HarborOne Bancorp Price Performance

The firm's fifty day simple moving average is $12.52 and its 200 day simple moving average is $11.53. The company has a market capitalization of $587.28 million, a price-to-earnings ratio of 20.93 and a beta of 0.63.

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

HarborOne Bancorp Announces Dividend

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

Institutional Trading of HarborOne Bancorp

Several institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its holdings in shares of HarborOne Bancorp by 2,617.3% during the second quarter. Alliancebernstein L.P. now owns 988,905 shares of the financial services provider's stock worth $11,550,000 after purchasing an additional 952,512 shares during the period. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 15,678 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of HarborOne Bancorp during the second quarter worth approximately $7,596,000. Qube Research & Technologies Ltd boosted its holdings in shares of HarborOne Bancorp by 263.5% during the second quarter. Qube Research & Technologies Ltd now owns 590,976 shares of the financial services provider's stock worth $6,903,000 after purchasing an additional 428,411 shares during the period. Finally, ABC Arbitrage SA acquired a new stake in shares of HarborOne Bancorp during the second quarter worth approximately $6,512,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.