HarborOne Bancorp (NASDAQ:HONE) Shares Gap Up - Here's Why

HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $10.06, but opened at $11.48. HarborOne Bancorp shares last traded at $11.38, with a volume of 392,813 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn upgraded shares of HarborOne Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Friday.

HarborOne Bancorp Stock Up 0.8 %

The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.92. The business has a 50-day simple moving average of $10.42 and a two-hundred day simple moving average of $11.70. The stock has a market capitalization of $506.86 million, a P/E ratio of 17.27 and a beta of 0.61.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $41.36 million during the quarter, compared to analyst estimates of $36.01 million. HarborOne Bancorp had a net margin of 8.61% and a return on equity of 4.63%. Equities research analysts forecast that HarborOne Bancorp, Inc. will post 0.83 earnings per share for the current fiscal year.

HarborOne Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, April 9th. This represents a $0.04 annualized dividend and a yield of 0.35%. HarborOne Bancorp's dividend payout ratio is 50.79%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in HarborOne Bancorp by 65.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 121,178 shares of the financial services provider's stock valued at $1,573,000 after purchasing an additional 47,857 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of HarborOne Bancorp by 194.9% in the third quarter. Franklin Resources Inc. now owns 37,714 shares of the financial services provider's stock valued at $496,000 after buying an additional 24,924 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of HarborOne Bancorp by 76.6% in the third quarter. Jane Street Group LLC now owns 67,031 shares of the financial services provider's stock valued at $870,000 after buying an additional 29,066 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of HarborOne Bancorp by 29.8% in the fourth quarter. SG Americas Securities LLC now owns 27,357 shares of the financial services provider's stock valued at $324,000 after buying an additional 6,288 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in HarborOne Bancorp by 2.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,693,131 shares of the financial services provider's stock worth $67,350,000 after acquiring an additional 131,602 shares during the last quarter. Institutional investors own 65.01% of the company's stock.

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.