HarborOne Bancorp (NASDAQ:HONE) Shares Gap Down - Should You Sell?

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $13.31, but opened at $12.58. HarborOne Bancorp shares last traded at $12.14, with a volume of 42,853 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HONE shares. StockNews.com upgraded shares of HarborOne Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, September 24th. Piper Sandler lifted their target price on shares of HarborOne Bancorp from $11.50 to $14.00 and gave the company a "neutral" rating in a report on Friday, July 26th.

HarborOne Bancorp Stock Performance

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 business has a 50 day moving average price of $12.78 and a 200 day moving average price of $11.60. The stock has a market capitalization of $513.77 million, a PE ratio of 31.08 and a beta of 0.73.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $79.87 million for the quarter, compared to the consensus estimate of $42.43 million. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. As a group, equities research analysts expect that HarborOne Bancorp, Inc. will post 0.71 earnings per share for the current year.

HarborOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 14th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, October 11th. HarborOne Bancorp's dividend payout ratio (DPR) is currently 86.49%.

Insider Buying and Selling

In other news, CMO David E. Tryder sold 13,000 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total transaction of $162,240.00. Following the sale, the chief marketing officer now owns 15,159 shares of the company's stock, valued at $189,184.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On HarborOne Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of HarborOne Bancorp in the 2nd quarter worth $27,000. Eastern Bank purchased a new position in shares of HarborOne Bancorp in the 3rd quarter worth $31,000. Price T Rowe Associates Inc. MD boosted its stake in shares of HarborOne Bancorp by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider's stock worth $126,000 after buying an additional 1,498 shares during the last quarter. Creative Planning boosted 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 worth $173,000 after buying an additional 2,898 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of HarborOne Bancorp by 63.3% in the 3rd 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 during the last quarter. 65.01% of the stock is currently owned by hedge funds and other 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.