HarborOne Bancorp (NASDAQ:HONE) Sees Unusually-High Trading Volume – Time to Buy?

HarborOne Bancorp, Inc. (NASDAQ:HONE) shares saw strong trading volume on Monday . 138,156 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 151,322 shares.The stock last traded at $13.41 and had previously closed at $13.19.

Wall Street Analysts Forecast Growth

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

HarborOne Bancorp Stock Down 0.8 %

The stock has a market cap of $576.17 million, a price-to-earnings ratio of 46.97 and a beta of 0.74. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $12.75 and its 200-day moving average price is $12.02.

HarborOne Bancorp (NASDAQ:HONE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts expect that HarborOne Bancorp, Inc. will post 0.62 earnings per share for the current year.

HarborOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Monday, October 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, October 11th. HarborOne Bancorp’s dividend payout ratio is 114.29%.

Insiders Place Their Bets

In related news, CMO David E. Tryder sold 13,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total value of $162,240.00. Following the transaction, the chief marketing officer now directly owns 15,159 shares of the company’s stock, valued at approximately $189,184.32. The trade was a 46.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Trading of HarborOne Bancorp

Several hedge funds have recently made changes to their positions in HONE. Hsbc Holdings PLC raised its stake in shares of HarborOne Bancorp by 4.9% during the 2nd quarter. Hsbc Holdings PLC now owns 27,113 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 1,270 shares during the period. Jacobs Levy Equity Management Inc. grew its position in 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 worth $2,592,000 after buying an additional 1,285 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in HarborOne Bancorp by 14.6% during the first 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 in the last quarter. Eastern Bank purchased a new position in HarborOne Bancorp during the third quarter worth about $31,000. Finally, nVerses Capital LLC purchased a new position in HarborOne Bancorp during the second quarter worth about $27,000. 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.