HarborOne Bancorp, Inc. (NASDAQ:HONE) Plans $0.08 Quarterly Dividend

HarborOne Bancorp, Inc. (NASDAQ:HONE) declared a quarterly dividend on Tuesday, October 1st, Wall Street Journal reports. Stockholders of record on Monday, October 14th will be given a dividend of 0.08 per share by the financial services provider on Monday, October 28th. This represents a $0.32 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, October 11th.

HarborOne Bancorp has increased its dividend payment by an average of 35.7% per year over the last three years. HarborOne Bancorp has a dividend payout ratio of 37.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect HarborOne Bancorp to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 38.1%.

HarborOne Bancorp Price Performance

Shares of NASDAQ HONE traded down $0.53 during mid-day trading on Tuesday, hitting $12.45. 124,718 shares of the company’s stock traded hands, compared to its average volume of 141,697. The company has a market capitalization of $556.22 million, a P/E ratio of 35.08 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.14 and a quick ratio of 1.13. The company’s 50-day moving average is $12.72 and its two-hundred day moving average is $11.28. HarborOne Bancorp has a 1 year low of $9.14 and a 1 year high of $14.00.

HarborOne Bancorp (NASDAQ:HONE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. HarborOne Bancorp had a return on equity of 4.59% and a net margin of 5.20%. The company had revenue of $79.87 million during the quarter, compared to the consensus estimate of $42.43 million. On average, equities analysts anticipate that HarborOne Bancorp will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HONE shares. Piper Sandler increased their price target on HarborOne Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th.

Insider Buying and Selling at HarborOne Bancorp

In related news, CMO David E. Tryder sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.90% 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.