HarborOne Bancorp (NASDAQ:HONE) Posts Earnings Results, Beats Estimates By $0.08 EPS

HarborOne Bancorp (NASDAQ:HONE – Get Rating) announced its quarterly earnings data on Thursday. The financial services provider reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.08, MarketWatch Earnings reports. HarborOne Bancorp had a return on equity of 8.47% and a net margin of 23.92%.

HarborOne Bancorp stock opened at $13.39 on Friday. The firm has a market capitalization of $686.37 million, a P/E ratio of 13.26 and a beta of 0.76. HarborOne Bancorp has a 1 year low of $12.99 and a 1 year high of $15.49. The business has a 50-day moving average of $14.27 and a 200-day moving average of $14.50. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 13th were given a dividend of $0.07 per share. This is a positive change from HarborOne Bancorp’s previous quarterly dividend of $0.05. This represents a $0.28 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, April 12th. HarborOne Bancorp’s payout ratio is presently 27.72%.

In related news, CEO James W. Blake sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $15.16, for a total value of $758,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James W. Blake sold 40,053 shares of the business’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $14.25, for a total value of $570,755.25. The disclosure for this sale can be found here. Insiders have sold a total of 340,053 shares of company stock valued at $4,980,755 over the last 90 days. Corporate insiders own 5.96% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in HarborOne Bancorp by 25.6% in the 3rd quarter. Royal Bank of Canada now owns 12,683 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 2,586 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in HarborOne Bancorp in the 3rd quarter valued at approximately $193,000. Canada Pension Plan Investment Board bought a new stake in HarborOne Bancorp in the 4th quarter valued at approximately $223,000. Two Sigma Advisers LP lifted its stake in HarborOne Bancorp by 35.7% in the 3rd quarter. Two Sigma Advisers LP now owns 16,330 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 4,300 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in HarborOne Bancorp by 32.7% in the 4th quarter. MetLife Investment Management LLC now owns 16,612 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 4,093 shares in the last quarter. Hedge funds and other institutional investors own 56.75% of the company’s stock.

A number of analysts recently commented on the company. Piper Sandler lowered HarborOne Bancorp from a “neutral” rating to an “underweight” rating and set a $15.50 price objective for the company. in a research report on Friday, March 18th. StockNews.com assumed coverage on HarborOne Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th.

About HarborOne Bancorp (Get Rating)

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 lending products comprise commercial real estate, commercial, residential mortgages, and consumer loans, including indirect automobile lease loans.

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