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

HarborOne Bancorp (NASDAQ:HONE) announced its earnings results 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. The business had revenue of $79.60 million for the quarter, compared to analysts’ expectations of $43.37 million. HarborOne Bancorp had a return on equity of 4.59% and a net margin of 5.20%.

HarborOne Bancorp Trading Up 0.3 %

Shares of NASDAQ:HONE opened at $11.54 on Friday. HarborOne Bancorp has a 52 week low of $9.15 and a 52 week high of $14.00. The company has a market cap of $512.49 million, a PE ratio of 30.37 and a beta of 0.73. The company’s 50 day moving average is $12.76 and its two-hundred day moving average is $11.61. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 14th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, October 11th. HarborOne Bancorp’s dividend payout ratio (DPR) is presently 84.21%.

Analysts Set New Price Targets

Several equities analysts have commented on HONE shares. Piper Sandler dropped 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 note on Friday. StockNews.com cut HarborOne Bancorp from a “hold” rating to a “sell” rating in a research note on Friday.

Insider Transactions at HarborOne Bancorp

In related news, CMO David E. Tryder sold 13,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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 $189,184.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.90% 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.