StockNews.com Upgrades HarborOne Bancorp (NASDAQ:HONE) to “Hold”

StockNews.com upgraded shares of HarborOne Bancorp (NASDAQ:HONE) from a sell rating to a hold rating in a report issued on Tuesday.

Separately, Piper Sandler lifted their target price on HarborOne Bancorp from $11.50 to $14.00 and gave the stock a neutral rating in a report on Friday, July 26th.

HarborOne Bancorp Stock Performance

Shares of HONE stock opened at $12.37 on Tuesday. The company has a market capitalization of $552.64 million, a price-to-earnings ratio of 33.43 and a beta of 0.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.13 and a current ratio of 1.14. HarborOne Bancorp has a one year low of $9.14 and a one year high of $14.00. The company’s 50-day moving average is $12.73 and its 200 day moving average is $11.22.

HarborOne Bancorp (NASDAQ:HONE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. The firm had revenue of $79.87 million for the quarter, compared to analysts’ expectations of $42.43 million. Sell-side analysts expect that HarborOne Bancorp will post 0.7 EPS for the current fiscal year.

Insider Activity

In other news, CMO David E. Tryder sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total transaction of $162,240.00. Following the completion of the transaction, the chief marketing officer now directly owns 15,159 shares of the company’s stock, valued at $189,184.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of HarborOne Bancorp during the 2nd quarter valued at about $27,000. Quest Partners LLC bought a new stake in HarborOne Bancorp during the fourth quarter valued at approximately $108,000. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $126,000 after buying an additional 1,498 shares during the last quarter. Catalytic Wealth RIA LLC bought a new position in HarborOne Bancorp in the fourth quarter worth approximately $154,000. Finally, Hsbc Holdings PLC raised its position in HarborOne Bancorp by 4.9% in the second quarter. Hsbc Holdings PLC now owns 27,113 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 1,270 shares during the period. Institutional investors own 65.01% of the company’s stock.

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.