HarborOne Bancorp, Inc. (NASDAQ:HONE) Expected to Post Quarterly Sales of $68.70 Million

Brokerages expect that HarborOne Bancorp, Inc. (NASDAQ:HONE) will announce $68.70 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for HarborOne Bancorp’s earnings, with the highest sales estimate coming in at $69.20 million and the lowest estimate coming in at $68.20 million. HarborOne Bancorp reported sales of $68.09 million during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The firm is scheduled to issue its next earnings report on Thursday, July 22nd.

According to Zacks, analysts expect that HarborOne Bancorp will report full year sales of $266.90 million for the current financial year, with estimates ranging from $265.30 million to $268.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $241.20 million, with estimates ranging from $221.10 million to $261.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow HarborOne Bancorp.

HarborOne Bancorp (NASDAQ:HONE) last released its quarterly earnings data on Monday, April 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. HarborOne Bancorp had a net margin of 19.47% and a return on equity of 8.58%. The business had revenue of $69.86 million during the quarter, compared to analyst estimates of $63.00 million.

A number of research firms have weighed in on HONE. Zacks Investment Research raised shares of HarborOne Bancorp from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Friday, April 30th. DA Davidson raised shares of HarborOne Bancorp from a “neutral” rating to a “buy” rating in a research report on Friday, March 5th. Finally, Piper Sandler reissued a “neutral” rating and set a $12.00 target price on shares of HarborOne Bancorp in a research report on Thursday, February 25th.

Shares of HONE stock traded up $0.18 on Friday, hitting $14.60. The company’s stock had a trading volume of 136,590 shares, compared to its average volume of 258,104. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.07 and a quick ratio of 1.02. HarborOne Bancorp has a fifty-two week low of $7.48 and a fifty-two week high of $15.49. The firm’s fifty day moving average price is $14.57. The firm has a market cap of $820.16 million, a PE ratio of 13.15 and a beta of 0.80.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Wednesday, April 14th were given a dividend of $0.05 per share. This is a positive change from HarborOne Bancorp’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, April 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.37%. HarborOne Bancorp’s payout ratio is currently 24.39%.

In other news, Director Barry R. Koretz sold 16,000 shares of the business’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $13.88, for a total transaction of $222,080.00. Following the transaction, the director now owns 54,371 shares in the company, valued at approximately $754,669.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.96% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its holdings in shares of HarborOne Bancorp by 154.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 3,882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,358 shares during the period. Lazard Asset Management LLC bought a new position in shares of HarborOne Bancorp during the 1st quarter worth about $53,000. ProShare Advisors LLC bought a new position in shares of HarborOne Bancorp during the 4th quarter worth about $127,000. Royal Bank of Canada increased its holdings in shares of HarborOne Bancorp by 16.6% during the 1st quarter. Royal Bank of Canada now owns 9,514 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,352 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of HarborOne Bancorp by 82.2% during the 4th quarter. Citigroup Inc. now owns 12,048 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 5,437 shares during the period. Institutional investors own 56.67% of the company’s stock.

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 lending products comprise commercial real estate, commercial and industrial, commercial construction, one-to four-family residential real estate, second mortgages and equity lines of credit, residential construction, and auto and other consumer loans.

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Earnings History and Estimates for HarborOne Bancorp (NASDAQ:HONE)

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