HarborOne Bancorp, Inc. (NASDAQ:HONE) Sees Significant Increase in Short Interest

HarborOne Bancorp, Inc. (NASDAQ:HONE) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 408,600 shares, a growth of 15.7% from the May 31st total of 353,300 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 131,700 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HONE. Corton Capital Inc. acquired a new stake in HarborOne Bancorp in the third quarter valued at approximately $97,000. Headinvest LLC acquired a new stake in shares of HarborOne Bancorp in the 3rd quarter worth $42,000. SG Americas Securities LLC grew its stake in HarborOne Bancorp by 27.0% during the 4th quarter. SG Americas Securities LLC now owns 26,842 shares of the financial services provider’s stock worth $322,000 after buying an additional 5,713 shares during the last quarter. Barrett & Company Inc. increased its position in HarborOne Bancorp by 5,618.0% during the 4th quarter. Barrett & Company Inc. now owns 5,089 shares of the financial services provider’s stock valued at $61,000 after buying an additional 5,000 shares in the last quarter. Finally, Strs Ohio boosted its holdings in HarborOne Bancorp by 13.6% in the fourth quarter. Strs Ohio now owns 50,800 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 6,100 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

HarborOne Bancorp Price Performance

NASDAQ HONE opened at $11.13 on Monday. The company has a market cap of $497.29 million, a PE ratio of 30.08 and a beta of 0.74. The firm’s 50 day moving average price is $10.46 and its 200-day moving average price is $10.66. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.17 and a current ratio of 1.17. HarborOne Bancorp has a 52-week low of $8.65 and a 52-week high of $12.44.

HarborOne Bancorp (NASDAQ:HONE) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The business had revenue of $41.32 million for the quarter, compared to analysts’ expectations of $39.98 million. HarborOne Bancorp had a return on equity of 4.58% and a net margin of 5.38%. Sell-side analysts forecast that HarborOne Bancorp will post 0.64 EPS for the current fiscal year.

HarborOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, July 10th. HarborOne Bancorp’s payout ratio is 86.49%.

Analyst Ratings Changes

Separately, StockNews.com upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

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.