HarborOne Bancorp (NASDAQ:HONE) Cut to “Sell” at StockNews.com

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

Separately, Piper Sandler upped their target price on HarborOne Bancorp from $11.50 to $14.00 and gave the stock a neutral rating in a research note on Friday, July 26th.

HarborOne Bancorp Price Performance

Shares of NASDAQ:HONE opened at $13.20 on Friday. The company has a 50 day moving average of $12.16 and a 200 day moving average of $10.91. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 1.07. The stock has a market cap of $586.21 million, a P/E ratio of 35.68 and a beta of 0.74. HarborOne Bancorp has a 12 month low of $9.14 and a 12 month high of $14.00.

HarborOne Bancorp (NASDAQ:HONE) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $79.87 million during the quarter, compared to the consensus estimate of $42.43 million. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. As a group, sell-side analysts forecast that HarborOne Bancorp will post 0.7 EPS for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Wednesday, July 10th. HarborOne Bancorp’s payout ratio is 86.49%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HONE. nVerses Capital LLC purchased a new position in shares of HarborOne Bancorp in the 2nd quarter worth about $27,000. Quest Partners LLC purchased a new stake in HarborOne Bancorp in the fourth quarter worth approximately $108,000. Price T Rowe Associates Inc. MD grew its position in HarborOne Bancorp by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,498 shares during the last quarter. Catalytic Wealth RIA LLC purchased a new position in shares of HarborOne Bancorp during the fourth quarter worth approximately $154,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of HarborOne Bancorp by 4.9% in the 2nd quarter. Hsbc Holdings PLC now owns 27,113 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 1,270 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

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.