HarborOne Bancorp (NASDAQ:HONE) Releases Earnings Results, Misses Estimates By $0.08 EPS

HarborOne Bancorp (NASDAQ:HONE) released its quarterly earnings data on Thursday. The financial services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08), Zacks reports. HarborOne Bancorp had a return on equity of 4.59% and a net margin of 5.20%. The firm had revenue of $79.60 million for the quarter, compared to analyst estimates of $43.37 million.

HarborOne Bancorp Price Performance

NASDAQ HONE traded up $0.03 during midday trading on Friday, hitting $11.53. The company had a trading volume of 193,590 shares, compared to its average volume of 144,172. The firm has a 50-day moving average price of $12.78 and a 200-day moving average price of $11.60. The company has a market capitalization of $515.11 million, a PE ratio of 31.32 and a beta of 0.73. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 1.07. HarborOne Bancorp has a twelve month low of $9.15 and a twelve month high of $14.00.

HarborOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 14th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, October 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.78%. HarborOne Bancorp’s payout ratio is presently 86.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HONE. StockNews.com raised HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Piper Sandler decreased their target price on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday.

Insider Transactions at HarborOne Bancorp

In other news, CMO David E. Tryder sold 13,000 shares of the company’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 completion of the sale, the chief marketing officer now owns 15,159 shares of the company’s stock, valued at approximately $189,184.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.90% of the stock is currently owned by insiders.

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.