HarborOne Bancorp (NASDAQ:HONE) Releases Earnings Results, Misses Expectations By $0.08 EPS

HarborOne Bancorp (NASDAQ:HONE) posted its quarterly earnings data on Thursday. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08), Zacks reports. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. The firm had revenue of $79.60 million during the quarter, compared to analysts’ expectations of $43.37 million.

HarborOne Bancorp Stock Up 0.1 %

Shares of HONE traded up $0.01 during midday trading on Friday, hitting $11.51. The company had a trading volume of 106,787 shares, compared to its average volume of 143,753. The company’s 50-day simple moving average is $12.78 and its 200-day simple moving average is $11.60. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.13 and a current ratio of 1.14. HarborOne Bancorp has a 1 year low of $9.15 and a 1 year high of $14.00. The firm has a market capitalization of $514.22 million, a P/E ratio of 31.30 and a beta of 0.73.

HarborOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, October 11th. HarborOne Bancorp’s dividend payout ratio is currently 86.49%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Piper Sandler cut their target price on shares of HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday.

Insider Activity at HarborOne Bancorp

In other HarborOne Bancorp 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 transaction of $162,240.00. Following the completion of the transaction, the chief marketing officer now owns 15,159 shares in the company, valued at $189,184.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.90% of the stock is owned by corporate insiders.

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.