StockNews.com Downgrades HarborOne Bancorp (NASDAQ:HONE) to Sell

HarborOne Bancorp (NASDAQ:HONE) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Piper Sandler dropped their price target on shares of HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday.

HarborOne Bancorp Stock Performance

Shares of HONE opened at $11.54 on Friday. The stock has a market capitalization of $512.49 million, a P/E ratio of 30.37 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.14 and a quick ratio of 1.13. The firm’s 50 day moving average is $12.76 and its 200-day moving average is $11.62. HarborOne Bancorp has a 12-month low of $9.15 and a 12-month high of $14.00.

HarborOne Bancorp (NASDAQ:HONE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $79.60 million during the quarter, compared to analyst estimates of $43.37 million. HarborOne Bancorp had a return on equity of 4.59% and a net margin of 5.20%. Equities research analysts anticipate that HarborOne Bancorp will post 0.71 EPS for the current fiscal year.

Insider Transactions at HarborOne Bancorp

In other news, CMO David E. Tryder sold 13,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $12.48, for a total value of $162,240.00. Following the completion of the sale, the chief marketing officer now directly owns 15,159 shares of the company’s stock, valued at $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 available through this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

Institutional Trading of HarborOne Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in HONE. Hsbc Holdings PLC grew its stake in HarborOne Bancorp by 4.9% during the second quarter. Hsbc Holdings PLC now owns 27,113 shares of the financial services provider’s stock worth $299,000 after buying an additional 1,270 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of HarborOne Bancorp by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,498 shares during the period. Eastern Bank bought a new stake in shares of HarborOne Bancorp in the 3rd quarter valued at $31,000. nVerses Capital LLC acquired a new stake in HarborOne Bancorp during the second quarter worth approximately $27,000. Finally, Creative Planning increased its stake in shares of HarborOne Bancorp by 27.8% in the 3rd quarter. Creative Planning now owns 13,309 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 2,898 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

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.