HarborOne Bancorp (NASDAQ:HONE) Upgraded to "Hold" at Wall Street Zen

Key Points

• HarborOne Bancorp's stock rating has been upgraded to a hold by Wall Street Zen, reflecting optimism from analysts.
• The company reported earnings of $0.23 per share for the last quarter, surpassing expectations and demonstrating strong revenue growth of $45.44 million.
• HarborOne Bancorp has an average target price of $13.00 according to MarketBeat, indicating potential upside from its current trading price.

Wall Street Zen upgraded shares of HarborOne Bancorp (NASDAQ:HONE - Free Report) to a hold rating in a report published on Friday.

A number of other analysts also recently weighed in on the company. Piper Sandler increased their price objective on HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Janney Montgomery Scott restated a "neutral" rating on shares of HarborOne Bancorp in a report on Tuesday, April 29th. Finally, Seaport Res Ptn upgraded HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.00.

HarborOne Bancorp Stock Performance

Shares of HONE traded down $0.08 during trading hours on Friday, reaching $12.79. The stock had a trading volume of 272,905 shares, compared to its average volume of 197,972. HarborOne Bancorp has a 12 month low of $8.89 and a 12 month high of $13.73. The stock has a market capitalization of $552.02 million, a PE ratio of 19.68 and a beta of 0.60. The company's 50-day moving average is $12.03 and its two-hundred day moving average is $11.32.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last announced 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 analysts' expectations of $32.39 million. Equities analysts anticipate that HarborOne Bancorp 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 will be paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd will be paid a $0.09 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.36 annualized dividend and a dividend yield of 2.8%. HarborOne Bancorp's dividend payout ratio (DPR) is currently 55.38%.

Institutional Trading of HarborOne Bancorp

Several large investors have recently made changes to their positions in HONE. Tower Research Capital LLC TRC lifted its position in HarborOne Bancorp by 128.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,507 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 2,538 shares in the last quarter. CWM LLC lifted its position 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 in the last quarter. Quarry LP bought a new position in HarborOne Bancorp in the 4th quarter valued at about $57,000. Aquatic Capital Management LLC bought a new position in HarborOne Bancorp in the 4th quarter valued at about $101,000. Finally, Point72 Asset Management L.P. bought a new position in HarborOne Bancorp in the 4th quarter valued at about $114,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.