HarborOne Bancorp (NASDAQ:HONE) Releases Earnings Results, Beats Expectations By $0.02 EPS

HarborOne Bancorp (NASDAQ:HONE) released its earnings results on Thursday. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02, Zacks reports. HarborOne Bancorp had a return on equity of 4.58% and a net margin of 5.20%. The company had revenue of $79.87 million during the quarter, compared to analyst estimates of $42.43 million.

HarborOne Bancorp Stock Up 0.1 %

HarborOne Bancorp stock traded up $0.01 during mid-day trading on Friday, hitting $13.58. 181,541 shares of the company’s stock were exchanged, compared to its average volume of 142,445. The stock has a market cap of $606.75 million, a P/E ratio of 36.70 and a beta of 0.74. The stock has a 50 day moving average of $11.05 and a two-hundred day moving average of $10.67. HarborOne Bancorp has a 1-year low of $9.14 and a 1-year high of $14.00. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.31.

HarborOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.36%. The ex-dividend date was Wednesday, July 10th. HarborOne Bancorp’s payout ratio is 86.49%.

Wall Street Analysts Forecast Growth

HONE has been the topic of several analyst reports. StockNews.com raised shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Piper Sandler increased their target price on shares of HarborOne Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a research report on Friday.

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.