HarborOne Bancorp (NASDAQ:HONE) Stock Price Down 4.6% - What's Next?

Key Points

• HarborOne Bancorp's stock fell by 4.6% during trading on Friday, closing at $13.19 with significant drop in trading volume, down 52% from average levels.
• Analysts have mixed views on the stock, with **one Strong Buy** and **three Hold ratings**, resulting in an average rating of "Moderate Buy" and a target price of **$13.00**.
• The company recently announced a quarterly dividend of **$0.09 per share**, yielding **2.7%**, and maintaining a dividend payout ratio of **55.38%**.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) was down 4.6% during trading on Friday . The stock traded as low as $13.13 and last traded at $13.19. Approximately 145,837 shares changed hands during trading, a decline of 52% from the average daily volume of 305,364 shares. The stock had previously closed at $13.82.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HONE shares. Weiss Ratings reissued a "hold (c+)" rating on shares of HarborOne Bancorp in a report on Wednesday, October 8th. Wall Street Zen raised HarborOne Bancorp to a "hold" rating in a report on Friday, August 22nd. Finally, Piper Sandler boosted their price objective on HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

HarborOne Bancorp Trading Down 3.4%

The stock has a market capitalization of $576.19 million, a P/E ratio of 20.54 and a beta of 0.61. The stock's fifty day moving average price is $13.22 and its two-hundred day moving average price is $11.98.

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

HarborOne Bancorp Announces Dividend

The business also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, September 3rd. HarborOne Bancorp's dividend payout ratio is 55.38%.

Hedge Funds Weigh In On HarborOne Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of HarborOne Bancorp by 35.3% during the first 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 in the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of HarborOne Bancorp during the second quarter valued at approximately $149,000. GC Wealth Management RIA LLC raised its holdings in shares of HarborOne Bancorp by 7.7% during the second quarter. GC Wealth Management RIA LLC now owns 13,848 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 992 shares in the last quarter. Sei Investments Co. bought a new position in shares of HarborOne Bancorp during the second quarter valued at approximately $169,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of HarborOne Bancorp by 15.6% during the second quarter. The Manufacturers Life Insurance Company now owns 16,477 shares of the financial services provider's stock valued at $192,000 after acquiring an additional 2,220 shares in the last quarter. Institutional investors own 65.01% of the company's stock.

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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