HarborOne Bancorp (NASDAQ:HONE) Shares Down 4.6% – What’s Next?

HarborOne Bancorp, Inc. (NASDAQ:HONE) shares traded down 4.6% on Friday . The company traded as low as $13.13 and last traded at $13.19. 145,837 shares traded hands during trading, a decline of 52% from the average session volume of 305,364 shares. The stock had previously closed at $13.82.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of HarborOne Bancorp from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of HarborOne Bancorp to a “hold” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of HarborOne Bancorp in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

HarborOne Bancorp Trading Down 3.7%

The firm has a market cap of $574.46 million, a PE ratio of 20.48 and a beta of 0.61. The firm’s 50 day simple moving average is $13.24 and its 200 day simple moving average is $12.02.

HarborOne Bancorp (NASDAQ:HONE) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. HarborOne Bancorp had a net margin of 8.43% and a return on equity of 4.66%. The firm had revenue of $45.44 million for the quarter, compared to the consensus estimate of $32.39 million. As a group, equities research analysts predict that HarborOne Bancorp, Inc. will post 0.83 earnings per share for the current fiscal year.

HarborOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd were issued a $0.09 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.7%. HarborOne Bancorp’s payout ratio is 55.38%.

Institutional Trading of HarborOne Bancorp

A number of large investors have recently made changes to their positions in the business. CWM LLC increased its holdings in shares of HarborOne Bancorp by 35.6% in the 3rd quarter. CWM LLC now owns 12,637 shares of the financial services provider’s stock worth $172,000 after buying an additional 3,319 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in HarborOne Bancorp during the 2nd quarter valued at about $581,000. Water Island Capital LLC bought a new position in HarborOne Bancorp during the 2nd quarter valued at about $230,000. Rafferty Asset Management LLC grew its holdings in HarborOne Bancorp by 45.1% during the 2nd quarter. Rafferty Asset Management LLC now owns 36,368 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 11,306 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in HarborOne Bancorp during the 2nd quarter valued at about $214,000. 65.01% of the stock is currently 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.