HarborOne Bancorp (NASDAQ:HONE) Sees Strong Trading Volume – Time to Buy?

HarborOne Bancorp, Inc. (NASDAQ:HONE) saw unusually-high trading volume on Monday . Approximately 138,156 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 151,322 shares.The stock last traded at $13.41 and had previously closed at $13.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HONE shares. Piper Sandler cut their target price 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, October 25th. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd.

HarborOne Bancorp Stock Performance

The company has a 50 day moving average of $12.75 and a two-hundred day moving average of $12.05. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.12 and a quick ratio of 1.11. The company has a market capitalization of $569.13 million, a PE ratio of 45.72 and a beta of 0.74.

HarborOne Bancorp (NASDAQ:HONE) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $79.60 million during the quarter, compared to analysts’ expectations of $43.37 million. HarborOne Bancorp had a return on equity of 3.82% and a net margin of 3.68%. As a group, equities research analysts predict that HarborOne Bancorp, Inc. will post 0.62 earnings per share for the current year.

HarborOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Monday, October 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, October 11th. HarborOne Bancorp’s dividend payout ratio is 114.29%.

Insider Transactions at HarborOne Bancorp

In related news, CMO David E. Tryder sold 13,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total value of $162,240.00. Following the transaction, the chief marketing officer now owns 15,159 shares in the company, valued at $189,184.32. The trade was a 46.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HONE. Hsbc Holdings PLC grew its holdings in shares of HarborOne Bancorp by 4.9% during the second quarter. Hsbc Holdings PLC now owns 27,113 shares of the financial services provider’s stock valued at $299,000 after buying an additional 1,270 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in HarborOne Bancorp by 0.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 199,702 shares of the financial services provider’s stock valued at $2,592,000 after acquiring an additional 1,285 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $126,000 after purchasing an additional 1,498 shares during the last quarter. Eastern Bank bought a new stake in shares of HarborOne Bancorp in the 3rd quarter worth $31,000. Finally, nVerses Capital LLC purchased a new position in shares of HarborOne Bancorp in the second quarter worth $27,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

HarborOne Bancorp Company Profile

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.