HarborOne Bancorp (NASDAQ:HONE) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of HarborOne Bancorp (NASDAQ:HONE) from a hold rating to a sell rating in a report issued on Friday.

Separately, Piper Sandler dropped their price target on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday.

HarborOne Bancorp Price Performance

HONE opened at $11.54 on Friday. HarborOne Bancorp has a 1 year low of $9.15 and a 1 year high of $14.00. 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 has a market capitalization of $512.49 million, a price-to-earnings ratio of 30.37 and a beta of 0.73. The firm’s fifty day moving average price is $12.76 and its two-hundred day moving average price is $11.61.

HarborOne Bancorp (NASDAQ:HONE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). HarborOne Bancorp had a return on equity of 4.59% and a net margin of 5.20%. The firm had revenue of $79.60 million during the quarter, compared to the consensus estimate of $43.37 million. As a group, analysts anticipate that HarborOne Bancorp will post 0.71 earnings per share for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 14th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Friday, October 11th. HarborOne Bancorp’s payout ratio is 84.21%.

Insider Activity

In related news, CMO David E. Tryder sold 13,000 shares of HarborOne Bancorp 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 sale, the chief marketing officer now owns 15,159 shares of the company’s stock, valued at approximately $189,184.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Trading of HarborOne Bancorp

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of HarborOne Bancorp by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,461,705 shares of the financial services provider’s stock worth $27,398,000 after acquiring an additional 67,913 shares during the period. Vanguard Group Inc. boosted its position in HarborOne Bancorp by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,342,754 shares of the financial services provider’s stock worth $24,974,000 after purchasing an additional 6,511 shares during the period. Renaissance Technologies LLC increased its stake in shares of HarborOne Bancorp by 5.7% in the second quarter. Renaissance Technologies LLC now owns 387,241 shares of the financial services provider’s stock worth $4,310,000 after purchasing an additional 20,800 shares in the last quarter. American Century Companies Inc. raised its position in shares of HarborOne Bancorp by 2.2% in the second quarter. American Century Companies Inc. now owns 348,448 shares of the financial services provider’s stock valued at $3,878,000 after purchasing an additional 7,412 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of HarborOne Bancorp by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 216,196 shares of the financial services provider’s stock valued at $2,406,000 after buying an additional 11,438 shares in the last quarter. 65.01% of the stock is currently owned by 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.