HarborOne Bancorp (NASDAQ:HONE) Shares Gap Up - Should You Buy?

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $10.06, but opened at $11.48. HarborOne Bancorp shares last traded at $11.38, with a volume of 392,813 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HONE. Seaport Res Ptn raised HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of HarborOne Bancorp in a research report on Tuesday.

HarborOne Bancorp Stock Down 1.0 %

The stock has a market cap of $501.96 million, a P/E ratio of 17.11 and a beta of 0.61. The stock's fifty day simple moving average is $10.41 and its 200-day simple moving average is $11.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.12 and a quick ratio of 1.11.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.03). HarborOne Bancorp had a net margin of 8.61% and a return on equity of 4.63%. The company had revenue of $41.36 million for the quarter, compared to analyst estimates of $36.01 million. On average, research analysts anticipate that HarborOne Bancorp, Inc. will post 0.83 earnings per share for the current year.

HarborOne Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Wednesday, April 9th. HarborOne Bancorp's dividend payout ratio is currently 50.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in HarborOne Bancorp by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,934 shares of the financial services provider's stock worth $259,000 after buying an additional 930 shares during the last quarter. Quantbot Technologies LP raised its position in shares of HarborOne Bancorp by 18.3% during the fourth quarter. Quantbot Technologies LP now owns 6,677 shares of the financial services provider's stock worth $79,000 after purchasing an additional 1,033 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of HarborOne Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 319,407 shares of the financial services provider's stock valued at $3,779,000 after purchasing an additional 2,363 shares during the period. Tower Research Capital LLC TRC boosted 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 worth $53,000 after buying an additional 2,538 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of HarborOne Bancorp by 6.1% during the fourth quarter. Russell Investments Group Ltd. now owns 58,425 shares of the financial services provider's stock valued at $691,000 after acquiring an additional 3,383 shares during the period. 65.01% of the stock is currently 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.