HarborOne Bancorp (NASDAQ:HONE) Upgraded 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 research note published on Friday morning.

Other equities research analysts also recently issued reports about the stock. Seaport Res Ptn upgraded shares of HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Piper Sandler raised their price target 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. Finally, Janney Montgomery Scott restated a "neutral" rating on shares of HarborOne Bancorp in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

HarborOne Bancorp Trading Up 1.5%

HarborOne Bancorp stock traded up $0.20 during trading hours on Friday, reaching $12.82. 146,706 shares of the stock were exchanged, compared to its average volume of 272,282. The company has a market cap of $553.10 million, a P/E ratio of 19.72 and a beta of 0.60. HarborOne Bancorp has a twelve month low of $8.89 and a twelve month high of $13.73. The stock has a 50 day moving average of $11.96 and a two-hundred day moving average of $11.30.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. HarborOne Bancorp had a net margin of 8.43% and a return on equity of 4.66%. The firm had revenue of $45.44 million for the quarter, compared to the consensus estimate of $32.39 million. On average, analysts expect that HarborOne Bancorp will post 0.83 earnings per share for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, September 3rd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. HarborOne Bancorp's payout ratio is presently 55.38%.

Institutional Investors Weigh In On HarborOne Bancorp

Several large investors have recently made changes to their positions in HONE. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 2,538 shares in the last quarter. CWM LLC lifted 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 worth $53,000 after buying an additional 1,326 shares in the last quarter. Quarry LP acquired a new stake in shares of HarborOne Bancorp during the fourth quarter worth $57,000. Aquatic Capital Management LLC acquired a new stake in shares of HarborOne Bancorp during the fourth quarter worth $101,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of HarborOne Bancorp during the fourth quarter worth $114,000. Institutional investors and hedge funds 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.