HarborOne Bancorp (NASDAQ:HONE) Trading 3.7% Higher - Should You Buy?

Key Points

• HarborOne Bancorp's stock price increased by 3.7% to $13.35 during trading, with a significant decline in volume compared to the average session.
• Following recent analyst reports, HarborOne Bancorp holds a consensus rating of "Moderate Buy" with a price target of $13.00, indicating mixed sentiments among investors.
• The company recently declared a quarterly dividend of $0.09 per share, yielding 2.7%, with a dividend payout ratio of 55.38%.

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report)'s share price traded up 3.7% during mid-day trading on Friday . The stock traded as high as $13.39 and last traded at $13.35. 173,190 shares traded hands during trading, a decline of 42% from the average session volume of 298,282 shares. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HONE shares. Weiss Ratings reissued a "hold (c+)" rating on shares of HarborOne Bancorp in a research report on Wednesday, October 8th. Piper Sandler increased their price objective on HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded HarborOne Bancorp to a "hold" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

HarborOne Bancorp Stock Performance

The company has a market capitalization of $579.21 million, a P/E ratio of 20.69 and a beta of 0.61. The firm's fifty day moving average is $13.04 and its 200-day moving average is $11.85.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last issued its earnings results 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. The business had revenue of $45.44 million during the quarter, compared to analysts' expectations of $32.39 million. HarborOne Bancorp had a return on equity of 4.66% and a net margin of 8.43%. As a group, analysts expect that HarborOne Bancorp, Inc. will post 0.83 EPS for the current fiscal year.

HarborOne Bancorp Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.36 annualized dividend and a dividend yield of 2.7%. HarborOne Bancorp's dividend payout ratio (DPR) is presently 55.38%.

Institutional Trading of HarborOne Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its stake in shares of HarborOne Bancorp by 2,617.3% in the second quarter. Alliancebernstein L.P. now owns 988,905 shares of the financial services provider's stock worth $11,550,000 after acquiring an additional 952,512 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of HarborOne Bancorp during the second quarter worth $7,596,000. ABC Arbitrage SA acquired a new stake in shares of HarborOne Bancorp during the second quarter worth $6,512,000. Qube Research & Technologies Ltd increased its position 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 buying an additional 428,411 shares during the period. Finally, Credit Industriel ET Commercial acquired a new stake in shares of HarborOne Bancorp during the second quarter worth $3,878,000. 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.

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