HarborOne Bancorp (NASDAQ:HONE) Sees Large Volume Increase After Better-Than-Expected Earnings

HarborOne Bancorp, Inc. (NASDAQ:HONE) saw strong trading volume on Tuesday following a better than expected earnings announcement. 334,540 shares changed hands during 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 EPS for the quarter, beating the consensus estimate 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 issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Tuesday, December 31st. HarborOne Bancorp’s dividend payout ratio is currently 48.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HONE shares. Piper Sandler reduced their price target on shares of 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 raised HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd.

Hedge Funds Weigh In On HarborOne Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eastern Bank purchased a new position in shares of HarborOne Bancorp during the 3rd quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. increased its position in HarborOne Bancorp by 164.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,217 shares of the financial services provider’s stock worth $55,000 after buying an additional 2,624 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of HarborOne Bancorp in the third quarter worth $73,000. US Bancorp DE lifted its position in shares of HarborOne Bancorp by 1,306.7% in the fourth quarter. US Bancorp DE now owns 5,880 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 5,462 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in HarborOne Bancorp during the 3rd quarter worth about $158,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

HarborOne Bancorp Stock Up 3.6 %

The stock has a market cap of $533.45 million, a price-to-earnings ratio of 18.35 and a beta of 0.75. The firm’s 50 day moving average is $12.16 and its two-hundred day moving average is $12.53. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.92.

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.