HarborOne Bancorp (NASDAQ:HONE) Announces Earnings Results

HarborOne Bancorp (NASDAQ:HONE) released its earnings results on Thursday. The financial services provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02, Zacks reports. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.58%. The business had revenue of $79.87 million during the quarter, compared to analysts’ expectations of $42.43 million.

HarborOne Bancorp Price Performance

HONE traded up $0.01 during midday trading on Friday, reaching $13.58. 181,541 shares of the company’s stock were exchanged, compared to its average volume of 142,445. The firm has a market capitalization of $606.75 million, a price-to-earnings ratio of 36.70 and a beta of 0.74. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.31. HarborOne Bancorp has a one year low of $9.14 and a one year high of $14.00. The business has a 50-day simple moving average of $11.05 and a two-hundred day simple moving average of $10.67.

HarborOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Wednesday, July 10th. HarborOne Bancorp’s dividend payout ratio is 86.49%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Piper Sandler increased their target price on shares of HarborOne Bancorp from $11.50 to $14.00 and gave the company a “neutral” rating in a research note on Friday.

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.