HarborOne Bancorp (NASDAQ:HONE) Sees Large Volume Increase on Better-Than-Expected 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 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 for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. HarborOne Bancorp had a net margin of 8.61% and a return on equity of 4.63%.

HarborOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.74%. HarborOne Bancorp’s dividend payout ratio (DPR) is presently 48.48%.

Wall Street Analyst Weigh In

Several research firms recently commented on HONE. StockNews.com upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a research 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 Investors Weigh In On HarborOne Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank bought a new position in HarborOne Bancorp during the 3rd quarter valued at about $31,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of HarborOne Bancorp by 164.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,217 shares of the financial services provider’s stock valued at $55,000 after buying an additional 2,624 shares during the period. Quantbot Technologies LP bought a new position in shares of HarborOne Bancorp during the third quarter valued at approximately $73,000. Quest Partners LLC purchased a new stake in shares of HarborOne Bancorp in the third quarter worth approximately $158,000. Finally, Creative Planning lifted its stake 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 worth $173,000 after acquiring an additional 2,898 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

HarborOne Bancorp Trading Up 11.1 %

The stock has a fifty day moving average of $12.18 and a 200-day moving average of $12.54. The company has a market cap of $514.94 million, a PE ratio of 17.71 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.