HarborOne Bancorp (NASDAQ:HONE) Sees Large Volume Increase After Earnings Beat

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 334,540 shares traded hands during mid-day trading, an increase of 70% from the previous session's volume of 197,270 shares.The stock last traded at $11.37 and had previously closed at $10.52.

The financial services provider reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. HarborOne Bancorp had a return on equity of 4.63% and a net margin of 8.61%.

HarborOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 2.63%. HarborOne Bancorp's payout ratio is 48.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler cut their price target on HarborOne Bancorp from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Friday, October 25th. StockNews.com raised shares of HarborOne Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, November 2nd.

Hedge Funds Weigh In On HarborOne Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its position in shares of HarborOne Bancorp by 192.0% during the second quarter. Cubist Systematic Strategies LLC now owns 28,700 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 18,870 shares during the period. SG Americas Securities LLC boosted its stake in HarborOne Bancorp by 63.3% during the third quarter. SG Americas Securities LLC now owns 21,069 shares of the financial services provider's stock worth $273,000 after buying an additional 8,169 shares in the last quarter. Creative Planning increased its holdings in 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 buying an additional 2,898 shares during the period. Eastern Bank acquired a new position in shares of HarborOne Bancorp in the 3rd quarter valued at $31,000. Finally, Empowered Funds LLC lifted its holdings in shares of HarborOne Bancorp by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 117,790 shares of the financial services provider's stock worth $1,529,000 after acquiring an additional 5,896 shares during the period. 65.01% of the stock is currently owned by institutional investors.

HarborOne Bancorp Stock Performance

The firm has a market capitalization of $536.09 million, a price-to-earnings ratio of 18.44 and a beta of 0.75. The firm's 50-day moving average price is $12.13 and its two-hundred day moving average price is $12.53. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.11 and a current ratio of 1.12.

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.