HarborOne Bancorp (NASDAQ:HONE) Sees Strong Trading Volume – Should You Buy?

Shares of HarborOne Bancorp, Inc. (NASDAQ:HONE) saw strong trading volume on Friday . 480,903 shares traded hands during mid-day trading, an increase of 210% from the previous session’s volume of 155,183 shares.The stock last traded at $12.70 and had previously closed at $12.85.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HONE shares. Piper Sandler dropped their price target 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. StockNews.com upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd.

HarborOne Bancorp Price Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.12 and a quick ratio of 1.11. The firm has a market cap of $562.08 million, a P/E ratio of 45.89 and a beta of 0.75. The stock’s 50-day simple moving average is $12.82 and its two-hundred day simple moving average is $12.22.

HarborOne Bancorp (NASDAQ:HONE) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $79.60 million during the quarter, compared to analysts’ expectations of $43.37 million. HarborOne Bancorp had a return on equity of 3.82% and a net margin of 3.68%. Equities research analysts forecast that HarborOne Bancorp, Inc. will post 0.62 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.32 annualized dividend and a yield of 2.51%. HarborOne Bancorp’s payout ratio is currently 114.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HONE. Dimensional Fund Advisors LP raised its stake in HarborOne Bancorp by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,461,705 shares of the financial services provider’s stock worth $27,398,000 after buying an additional 67,913 shares in the last quarter. Barclays PLC raised its holdings in HarborOne Bancorp by 40.7% in the third quarter. Barclays PLC now owns 107,289 shares of the financial services provider’s stock worth $1,392,000 after purchasing an additional 31,045 shares in the last quarter. Jane Street Group LLC lifted its position in shares of HarborOne Bancorp by 76.6% during the third quarter. Jane Street Group LLC now owns 67,031 shares of the financial services provider’s stock valued at $870,000 after buying an additional 29,066 shares during the last quarter. Franklin Resources Inc. grew its holdings in HarborOne Bancorp by 194.9% in the third quarter. Franklin Resources Inc. now owns 37,714 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 24,924 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in HarborOne Bancorp in the third quarter valued at about $313,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.