HarborOne Bancorp, Inc. (NASDAQ:HONE) Increases Dividend to $0.08 Per Share

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) announced a quarterly dividend on Friday, March 29th, investing.com reports. Investors of record on Wednesday, April 10th will be given a dividend of 0.08 per share by the financial services provider on Wednesday, April 24th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Tuesday, April 9th. This is a positive change from HarborOne Bancorp's previous quarterly dividend of $0.08.

HarborOne Bancorp has increased its dividend by an average of 48.6% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. HarborOne Bancorp has a dividend payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HarborOne Bancorp to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 37.5%.

HarborOne Bancorp Stock Performance

Shares of NASDAQ:HONE traded up $0.14 during mid-day trading on Friday, reaching $10.66. The company had a trading volume of 180,978 shares, compared to its average volume of 175,876. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The firm has a market cap of $482.26 million, a price-to-earnings ratio of 29.61 and a beta of 0.74. The company's 50-day moving average price is $10.51 and its 200-day moving average price is $10.63. HarborOne Bancorp has a one year low of $7.51 and a one year high of $12.44.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $42.11 million. HarborOne Bancorp had a return on equity of 4.54% and a net margin of 5.62%. As a group, equities research analysts anticipate that HarborOne Bancorp will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HONE has been the topic of a number of research reports. TheStreet cut shares of HarborOne Bancorp from a "b" rating to a "c+" rating in a report on Tuesday, January 30th. StockNews.com lowered shares of HarborOne Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, January 31st.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of HarborOne Bancorp by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,425,874 shares of the financial services provider's stock valued at $29,596,000 after purchasing an additional 175,083 shares in the last quarter. Millennium Management LLC grew its position in shares of HarborOne Bancorp by 58.5% during the 4th quarter. Millennium Management LLC now owns 467,192 shares of the financial services provider's stock valued at $6,494,000 after purchasing an additional 172,368 shares in the last quarter. State Street Corp grew its position in shares of HarborOne Bancorp by 10.3% during the 2nd quarter. State Street Corp now owns 1,395,259 shares of the financial services provider's stock valued at $12,111,000 after purchasing an additional 130,019 shares in the last quarter. Vanguard Group Inc. grew its position in shares of HarborOne Bancorp by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 2,336,243 shares of the financial services provider's stock valued at $27,988,000 after purchasing an additional 78,714 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of HarborOne Bancorp by 32.0% during the 1st quarter. American Century Companies Inc. now owns 288,955 shares of the financial services provider's stock worth $3,517,000 after acquiring an additional 70,055 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

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.