HarborOne Bancorp (NASDAQ:HONE) Shares Gap Up – Time to Buy?

HarborOne Bancorp, Inc. (NASDAQ:HONE)’s share price gapped up prior to trading on Friday . The stock had previously closed at $10.06, but opened at $11.48. HarborOne Bancorp shares last traded at $11.38, with a volume of 392,813 shares traded.

Analysts Set New Price Targets

Separately, Seaport Res Ptn upgraded shares of HarborOne Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday.

HarborOne Bancorp Trading Up 12.3 %

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.12 and a quick ratio of 1.11. The stock has a market cap of $502.41 million, a P/E ratio of 17.12 and a beta of 0.61. The firm’s fifty day moving average price is $10.43 and its two-hundred day moving average price is $11.71.

HarborOne Bancorp (NASDAQ:HONE) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The business had revenue of $41.36 million during the quarter, compared to the consensus estimate of $36.01 million. HarborOne Bancorp had a return on equity of 4.63% and a net margin of 8.61%. As a group, equities research analysts forecast that HarborOne Bancorp, Inc. will post 0.83 EPS for the current year.

HarborOne Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $0.04 annualized dividend and a yield of 0.35%. HarborOne Bancorp’s payout ratio is presently 48.48%.

Hedge Funds Weigh In On HarborOne Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Rhino Investment Partners Inc purchased a new position in HarborOne Bancorp in the fourth quarter worth $3,185,000. Millennium Management LLC lifted its stake in HarborOne Bancorp by 174.8% during the fourth quarter. Millennium Management LLC now owns 271,878 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 172,941 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of HarborOne Bancorp by 2.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,693,131 shares of the financial services provider’s stock worth $67,350,000 after purchasing an additional 131,602 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of HarborOne Bancorp by 306.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 141,343 shares of the financial services provider’s stock valued at $1,672,000 after purchasing an additional 106,526 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of HarborOne Bancorp by 78.9% during the 4th quarter. JPMorgan Chase & Co. now owns 216,837 shares of the financial services provider’s stock valued at $2,565,000 after buying an additional 95,659 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

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.