HarborOne Bancorp, Inc. Declares Quarterly Dividend of $0.08 (NASDAQ:HONE)

HarborOne Bancorp, Inc. (NASDAQ:HONE) announced a quarterly dividend on Tuesday, October 1st, Wall Street Journal reports. Investors of record on Monday, October 14th will be paid a dividend of 0.08 per share by the financial services provider on Monday, October 28th. This represents a $0.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Friday, October 11th.

HarborOne Bancorp has increased its dividend by an average of 35.7% annually over the last three years. HarborOne Bancorp has a dividend payout ratio of 37.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HarborOne Bancorp to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 38.1%.

HarborOne Bancorp Price Performance

Shares of HarborOne Bancorp stock traded down $0.53 during trading hours on Tuesday, reaching $12.45. The stock had a trading volume of 124,718 shares, compared to its average volume of 141,697. HarborOne Bancorp has a twelve month low of $9.14 and a twelve month high of $14.00. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $556.22 million, a PE ratio of 35.08 and a beta of 0.73. The stock’s 50 day moving average is $12.72 and its 200 day moving average is $11.28.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HONE shares. Piper Sandler raised their price target on shares of HarborOne Bancorp from $11.50 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. StockNews.com raised shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th.

Insiders Place Their Bets

In related news, CMO David E. Tryder sold 13,000 shares of the firm’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 15,159 shares in the company, valued at $189,184.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.90% 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.