HarborOne Bancorp (NASDAQ:HONE) Shares Gap Down – Here’s What Happened

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE) gapped down prior to trading on Thursday . The stock had previously closed at $13.31, but opened at $12.58. HarborOne Bancorp shares last traded at $12.14, with a volume of 42,853 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HONE shares. Piper Sandler upped their target price on shares of HarborOne Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com raised HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th.

HarborOne Bancorp Trading Down 14.5 %

The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 1.07. The stock has a market cap of $508.41 million, a price-to-earnings ratio of 33.78 and a beta of 0.73. The company’s fifty day moving average is $12.79 and its two-hundred day moving average is $11.60.

HarborOne Bancorp (NASDAQ:HONE) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. The business had revenue of $79.87 million during the quarter, compared to analysts’ expectations of $42.43 million. On average, research analysts predict that HarborOne Bancorp, Inc. will post 0.71 EPS for the current fiscal year.

HarborOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, October 14th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.81%. HarborOne Bancorp’s payout ratio is currently 86.49%.

Insider Buying and Selling

In other HarborOne Bancorp news, CMO David E. Tryder sold 13,000 shares of the firm’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 sale, the chief marketing officer now owns 15,159 shares of the company’s stock, valued at approximately $189,184.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.90% of the stock is owned by company insiders.

Institutional Trading of HarborOne Bancorp

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in HarborOne Bancorp by 8.2% in the first quarter. Empowered Funds LLC now owns 103,974 shares of the financial services provider’s stock valued at $1,108,000 after purchasing an additional 7,842 shares during the period. Russell Investments Group Ltd. boosted its holdings in HarborOne Bancorp by 13.7% in the 1st quarter. Russell Investments Group Ltd. now owns 39,703 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 4,790 shares in the last quarter. Vanguard Group Inc. increased its position in HarborOne Bancorp by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,342,754 shares of the financial services provider’s stock worth $24,974,000 after purchasing an additional 6,511 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of HarborOne Bancorp by 14.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,498 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of HarborOne Bancorp by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 216,196 shares of the financial services provider’s stock valued at $2,406,000 after buying an additional 11,438 shares during the period. 65.01% of the stock is owned by institutional investors and hedge funds.

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.