HarborOne Bancorp (NASDAQ:HONE) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.44 and traded as low as $12.01. HarborOne Bancorp shares last traded at $12.07, with a volume of 139,804 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. Piper Sandler lowered their price target on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

HarborOne Bancorp Price Performance

The firm has a market capitalization of $531.68 million, a P/E ratio of 43.11 and a beta of 0.76. The business’s 50-day simple moving average is $12.44 and its 200 day simple moving average is $12.53. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.92.

HarborOne Bancorp (NASDAQ:HONE) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $79.60 million for the quarter, compared to the consensus estimate of $43.37 million. HarborOne Bancorp had a net margin of 3.68% and a return on equity of 3.82%. Sell-side analysts forecast that HarborOne Bancorp, Inc. will post 0.62 earnings per share for the current year.

HarborOne Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, December 31st. HarborOne Bancorp’s dividend payout ratio (DPR) is presently 114.29%.

Hedge Funds Weigh In On HarborOne Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank purchased a new stake in shares of HarborOne Bancorp during the third quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. boosted its position in HarborOne Bancorp by 164.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,217 shares of the financial services provider’s stock valued at $55,000 after buying an additional 2,624 shares during the period. Quantbot Technologies LP bought a new stake in HarborOne Bancorp in the 3rd quarter worth $73,000. Quest Partners LLC purchased a new position in shares of HarborOne Bancorp in the third quarter valued at about $158,000. Finally, Creative Planning raised its stake in shares of HarborOne Bancorp by 27.8% during the third quarter. Creative Planning now owns 13,309 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 2,898 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

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.