Compass Point Upgrades HarborOne Bancorp (NASDAQ:HONE) to Buy

HarborOne Bancorp (NASDAQ:HONE) was upgraded by Compass Point from a “neutral” rating to a “buy” rating in a research note issued on Friday, August 9th, Marketbeat.com reports. The brokerage presently has a $22.00 price objective on the financial services provider’s stock, up from their prior price objective of $17.00. Compass Point’s target price would suggest a potential upside of 119.56% from the company’s current price.

HONE has been the subject of a number of other reports. BidaskClub lowered shares of HarborOne Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. ValuEngine lowered shares of HarborOne Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. TheStreet raised shares of HarborOne Bancorp from a “c” rating to a “b-” rating in a research report on Monday, July 1st. Finally, Janney Montgomery Scott initiated coverage on shares of HarborOne Bancorp in a research report on Tuesday, August 6th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $20.50.

HONE stock opened at $10.02 on Friday. The firm’s fifty day simple moving average is $18.80 and its two-hundred day simple moving average is $17.75. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $649.18 million, a price-to-earnings ratio of 39.86 and a beta of 0.57. HarborOne Bancorp has a twelve month low of $9.63 and a twelve month high of $20.08.

HarborOne Bancorp (NASDAQ:HONE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.15 EPS for the quarter. The firm had revenue of $42.43 million for the quarter. HarborOne Bancorp had a net margin of 6.75% and a return on equity of 4.37%. As a group, equities research analysts expect that HarborOne Bancorp will post 0.4 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC purchased a new position in shares of HarborOne Bancorp in the 2nd quarter valued at approximately $26,000. Flagship Harbor Advisors LLC raised its position in shares of HarborOne Bancorp by 501.9% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,559 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,300 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of HarborOne Bancorp by 1,017.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,040 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 2,768 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of HarborOne Bancorp by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,289 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 4,131 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of HarborOne Bancorp by 72.9% in the 4th quarter. Bank of America Corp DE now owns 9,311 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 3,926 shares during the last quarter. 19.71% of the stock is owned by hedge funds and other 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 middle-market businesses, and municipalities throughout Southeastern New England. Its primary deposit products include checking, money market, savings, and term certificate of deposit accounts; and lending products comprise commercial real estate loans, commercial loans, construction loans, one- to four-family residential real estate loans, second mortgages and equity lines of credit, and auto and other consumer loans.

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