Analysts Anticipate HarborOne Bancorp Inc (NASDAQ:HONE) Will Post Earnings of $0.05 Per Share

Brokerages expect that HarborOne Bancorp Inc (NASDAQ:HONE) will post earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for HarborOne Bancorp’s earnings, with estimates ranging from $0.04 to $0.07. HarborOne Bancorp reported earnings per share of $0.08 during the same quarter last year, which suggests a negative year over year growth rate of 37.5%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that HarborOne Bancorp will report full year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.34. For the next year, analysts anticipate that the business will post earnings of $0.29 per share, with EPS estimates ranging from $0.22 to $0.34. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for HarborOne Bancorp.

HarborOne Bancorp (NASDAQ:HONE) last issued its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $46.55 million. HarborOne Bancorp had a return on equity of 3.53% and a net margin of 9.30%.

HONE has been the subject of a number of research analyst reports. DA Davidson initiated coverage on HarborOne Bancorp in a report on Monday, June 15th. They set a “neutral” rating and a $9.50 price objective for the company. Zacks Investment Research upgraded HarborOne Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Wednesday. ValuEngine upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Compass Point reduced their price objective on HarborOne Bancorp from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, BidaskClub upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $9.67.

In related news, COO Joseph F. Casey purchased 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $7.20 per share, for a total transaction of $100,800.00. Following the completion of the purchase, the chief operating officer now owns 252,403 shares in the company, valued at approximately $1,817,301.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in HarborOne Bancorp by 5.7% during the fourth quarter. Bank of America Corp DE now owns 22,035 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 1,188 shares during the last quarter. Citigroup Inc. lifted its stake in HarborOne Bancorp by 49.7% during the fourth quarter. Citigroup Inc. now owns 5,386 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,789 shares during the last quarter. Victory Capital Management Inc. lifted its stake in HarborOne Bancorp by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 183,452 shares of the financial services provider’s stock worth $2,016,000 after purchasing an additional 2,068 shares during the last quarter. Swiss National Bank lifted its stake in HarborOne Bancorp by 5.0% during the fourth quarter. Swiss National Bank now owns 50,284 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in HarborOne Bancorp by 40.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,073 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 2,628 shares during the last quarter. Hedge funds and other institutional investors own 49.37% of the company’s stock.

NASDAQ HONE traded down $0.04 during trading on Friday, reaching $8.17. 165,184 shares of the company’s stock were exchanged, compared to its average volume of 484,675. The business has a 50 day moving average price of $8.29 and a 200-day moving average price of $9.20. The stock has a market capitalization of $477.27 million, a P/E ratio of 21.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 1.09. HarborOne Bancorp has a fifty-two week low of $6.45 and a fifty-two week high of $11.20.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 14th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, July 13th.

HarborOne Bancorp Company Profile

HarborOne Bancorp, Inc operates as the holding company for HarborOne Bank that provides financial services to individuals, families, small and middle-market businesses, and municipalities throughout Southeastern New England. Its primary deposit products include checking, money market, savings, and term certificate of deposit accounts; and lending products comprise commercial real estate loans, commercial loans, construction loans, one- to four-family residential real estate loans, second mortgages and equity lines of credit, and auto and other consumer loans.

Recommended Story: How mutual funds make money

Get a free copy of the Zacks research report on HarborOne Bancorp (HONE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for HarborOne Bancorp (NASDAQ:HONE)

Receive News & Ratings for HarborOne Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HarborOne Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.