HarborOne Bancorp (NASDAQ:HONE) Sees Strong Trading Volume – Here’s What Happened

HarborOne Bancorp, Inc. (NASDAQ:HONE) shares saw an uptick in trading volume on Friday . 312,168 shares changed hands during trading, an increase of 113% from the previous session’s volume of 146,660 shares.The stock last traded at $11.77 and had previously closed at $11.87.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HONE. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday. Piper Sandler cut their price target on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th.

HarborOne Bancorp Price Performance

The stock has a market capitalization of $530.70 million, a price-to-earnings ratio of 42.68 and a beta of 0.74. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average of $12.70 and a 200-day moving average of $11.72.

HarborOne Bancorp (NASDAQ:HONE) last issued its 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 company had revenue of $79.60 million during the quarter, compared to analyst estimates of $43.37 million. HarborOne Bancorp had a net margin of 3.68% and a return on equity of 3.82%. On average, equities research analysts predict that HarborOne Bancorp, Inc. will post 0.64 EPS for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Monday, October 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, October 11th. HarborOne Bancorp’s payout ratio is 114.29%.

Insider Transactions at HarborOne Bancorp

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

Institutional Trading of HarborOne Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in HarborOne Bancorp by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,461,705 shares of the financial services provider’s stock worth $27,398,000 after purchasing an additional 67,913 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of HarborOne Bancorp by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,342,754 shares of the financial services provider’s stock worth $24,974,000 after buying an additional 6,511 shares during the period. Renaissance Technologies LLC grew its holdings in shares of HarborOne Bancorp by 5.7% during the second quarter. Renaissance Technologies LLC now owns 387,241 shares of the financial services provider’s stock worth $4,310,000 after buying an additional 20,800 shares during the last quarter. American Century Companies Inc. increased its position in HarborOne Bancorp by 2.2% in the 2nd quarter. American Century Companies Inc. now owns 348,448 shares of the financial services provider’s stock valued at $3,878,000 after acquiring an additional 7,412 shares during the period. Finally, Bank of New York Mellon Corp increased its position in HarborOne Bancorp by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 216,196 shares of the financial services provider’s stock valued at $2,406,000 after acquiring an additional 11,438 shares during the period. Hedge funds and other institutional investors 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.