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

HarborOne Bancorp, Inc. (NASDAQ:HONE) shares saw strong 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 for the quarter, beating 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Tuesday, December 31st. HarborOne Bancorp’s dividend payout ratio (DPR) is presently 48.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler reduced their price objective on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 2nd.

Institutional Trading of HarborOne Bancorp

Several institutional investors have recently added to or reduced their stakes in HONE. Genesis Wealth Advisors LLC purchased a new position in shares of HarborOne Bancorp in the 4th quarter worth $356,000. Y Intercept Hong Kong Ltd purchased a new position in shares of HarborOne Bancorp in the 4th quarter worth $176,000. Empowered Funds LLC boosted its stake in shares of HarborOne Bancorp by 5.1% in the 4th quarter. Empowered Funds LLC now owns 123,756 shares of the financial services provider’s stock worth $1,464,000 after buying an additional 5,966 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of HarborOne Bancorp by 29.8% in the 4th quarter. SG Americas Securities LLC now owns 27,357 shares of the financial services provider’s stock worth $324,000 after buying an additional 6,288 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of HarborOne Bancorp by 65.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 121,178 shares of the financial services provider’s stock worth $1,573,000 after buying an additional 47,857 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

HarborOne Bancorp Trading Up 8.7 %

The stock has a fifty day moving average of $12.23 and a 200 day moving average of $12.55. The company has a market capitalization 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.