HarborOne Bancorp (NASDAQ:HONE) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of HarborOne Bancorp (NASDAQ:HONE) from a sell rating to a hold rating in a report published on Saturday morning.

Separately, Piper Sandler cut their target price on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

HarborOne Bancorp Stock Up 1.1 %

Shares of NASDAQ HONE opened at $11.93 on Friday. The company has a 50 day simple moving average of $12.65 and a 200 day simple moving average of $11.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.14 and a quick ratio of 1.13. HarborOne Bancorp has a 1 year low of $9.15 and a 1 year high of $14.00. The firm has a market cap of $529.79 million, a PE ratio of 42.61 and a beta of 0.74.

HarborOne Bancorp (NASDAQ:HONE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $79.60 million for the quarter, compared to the consensus estimate of $43.37 million. HarborOne Bancorp had a net margin of 3.68% and a return on equity of 3.82%. On average, research analysts forecast that HarborOne Bancorp will post 0.62 EPS for the current year.

HarborOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Monday, October 14th were given a $0.08 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.68%. HarborOne Bancorp’s dividend payout ratio (DPR) is currently 114.29%.

Insider Activity

In related news, CMO David E. Tryder sold 13,000 shares of HarborOne Bancorp stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total transaction of $162,240.00. Following the completion of the transaction, the chief marketing officer now owns 15,159 shares of the company’s stock, valued at $189,184.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On HarborOne Bancorp

Several large investors have recently added to or reduced their stakes in the business. Eastern Bank bought a new position in shares of HarborOne Bancorp during the 3rd quarter worth approximately $31,000. Creative Planning lifted its position in shares of HarborOne Bancorp by 27.8% during the 3rd quarter. Creative Planning now owns 13,309 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 2,898 shares during the period. SG Americas Securities LLC grew its holdings in HarborOne Bancorp by 63.3% in the third quarter. SG Americas Securities LLC now owns 21,069 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 8,169 shares during the period. Cubist Systematic Strategies LLC increased its stake in HarborOne Bancorp by 192.0% in the second quarter. Cubist Systematic Strategies LLC now owns 28,700 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 18,870 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of HarborOne Bancorp by 4.9% during the second quarter. Hsbc Holdings PLC now owns 27,113 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 1,270 shares during the period. 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.