HarborOne Bancorp (NASDAQ:HONE) Lifted to Hold at StockNews.com

HarborOne Bancorp (NASDAQ:HONE) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Piper Sandler upped their target price on HarborOne Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th.

HarborOne Bancorp Price Performance

Shares of HarborOne Bancorp stock traded down $0.16 on Tuesday, hitting $12.69. 102,738 shares of the company traded hands, compared to its average volume of 141,563. HarborOne Bancorp has a 12-month low of $9.14 and a 12-month high of $14.00. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 1.07. The company has a market cap of $566.94 million, a P/E ratio of 34.30 and a beta of 0.73. The firm’s 50-day simple moving average is $12.74 and its 200 day simple moving average is $11.21.

HarborOne Bancorp (NASDAQ:HONE) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.18 earnings per share for the quarter, beating 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 business had revenue of $79.87 million for the quarter, compared to the consensus estimate of $42.43 million. Analysts expect that HarborOne Bancorp will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO David E. Tryder sold 13,000 shares of the business’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 owns 15,159 shares of the company’s stock, valued at approximately $189,184.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HONE. nVerses Capital LLC bought a new stake in HarborOne Bancorp in the 2nd quarter worth $27,000. Quest Partners LLC bought a new stake in shares of HarborOne Bancorp in the fourth quarter worth about $108,000. Price T Rowe Associates Inc. MD grew its stake in shares of HarborOne Bancorp by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,498 shares during the last quarter. Catalytic Wealth RIA LLC purchased a new position in HarborOne Bancorp during the 4th quarter valued at about $154,000. Finally, Hsbc Holdings PLC raised its position in HarborOne Bancorp by 4.9% during the 2nd 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 last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

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.