HarborOne Bancorp (NASDAQ:HONE) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE) saw an uptick in trading volume on Tuesday following a better than expected earnings announcement. 334,540 shares traded hands during 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 the consensus estimate of $0.18 by $0.02. HarborOne Bancorp had a net margin of 8.61% and a return on equity of 4.63%.

HarborOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Tuesday, December 31st. HarborOne Bancorp’s payout ratio is 48.48%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On HarborOne Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in HONE. Jacobs Levy Equity Management Inc. lifted its position in shares of HarborOne Bancorp by 0.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 199,702 shares of the financial services provider’s stock valued at $2,592,000 after buying an additional 1,285 shares during the last quarter. Empowered Funds LLC raised its stake in shares of HarborOne Bancorp by 5.1% during the 4th quarter. Empowered Funds LLC now owns 123,756 shares of the financial services provider’s stock worth $1,464,000 after acquiring an additional 5,966 shares in the last quarter. JPMorgan Chase & Co. lifted its position in HarborOne Bancorp by 65.3% during the third quarter. JPMorgan Chase & Co. now owns 121,178 shares of the financial services provider’s stock valued at $1,573,000 after acquiring an additional 47,857 shares during the last quarter. Barclays PLC boosted its stake in HarborOne Bancorp by 40.7% in the third quarter. Barclays PLC now owns 107,289 shares of the financial services provider’s stock valued at $1,392,000 after acquiring an additional 31,045 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in 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 worth $870,000 after purchasing an additional 29,066 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

HarborOne Bancorp Stock Performance

The business has a 50-day moving average price of $12.18 and a 200-day moving average price of $12.54. 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 firm has a market capitalization of $514.94 million, a price-to-earnings ratio of 17.71 and a beta of 0.75.

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.