HarborOne Bancorp (NASDAQ:HONE) Sees Large Volume Increase After Strong Earnings

HarborOne Bancorp, Inc. (NASDAQ:HONE) saw an uptick in trading volume on Tuesday following a stronger than expected earnings report. 334,540 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 197,270 shares.The stock last traded at $11.37 and had previously closed at $10.52.

The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. HarborOne Bancorp had a return on equity of 4.63% and a net margin of 8.61%.

HarborOne Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, December 31st. HarborOne Bancorp’s payout ratio is currently 48.48%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HONE. StockNews.com upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. Piper Sandler dropped their target price on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eastern Bank bought a new position in HarborOne Bancorp during the 3rd quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. raised its position in HarborOne Bancorp by 164.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,217 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 2,624 shares during the last quarter. Quantbot Technologies LP bought a new position in HarborOne Bancorp during the 3rd quarter valued at approximately $73,000. Quest Partners LLC bought a new position in HarborOne Bancorp during the 3rd quarter valued at approximately $158,000. Finally, Creative Planning raised its position in 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 purchasing an additional 2,898 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

HarborOne Bancorp Price Performance

The business has a 50-day simple moving average of $12.23 and a 200 day simple moving average of $12.55. The firm has a market cap of $503.93 million, a P/E ratio of 17.29 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.11 and a current ratio of 1.12.

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.