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

by · The Markets Daily

HarborOne Bancorp, Inc. (NASDAQ:HONE – Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 285,200 shares, a growth of 13.2% from the September 30th total of 252,000 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 145,500 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HONE. StockNews.com downgraded shares of HarborOne Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Piper Sandler reduced their price objective on HarborOne Bancorp from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

Get Our Latest Research Report on HarborOne Bancorp

HarborOne Bancorp Stock Down 3.3 %

HarborOne Bancorp stock traded down $0.40 during midday trading on Thursday, hitting $11.87. 197,665 shares of the company’s stock were exchanged, compared to its average volume of 145,876. HarborOne Bancorp has a 12 month low of $9.15 and a 12 month high of $14.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.13 and a current ratio of 1.14. The company has a market cap of $530.30 million, a PE ratio of 32.08 and a beta of 0.73. The firm has a 50-day moving average of $12.74 and a two-hundred day moving average of $11.68.

HarborOne Bancorp (NASDAQ:HONE – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $79.60 million for the quarter, compared to analysts’ expectations of $43.37 million. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. As a group, analysts expect that HarborOne Bancorp will post 0.71 earnings per share for the current fiscal year.

HarborOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Monday, October 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, October 11th. HarborOne Bancorp’s dividend payout ratio (DPR) is currently 86.49%.

Insider Buying and Selling

In other HarborOne Bancorp news, CMO David E. Tryder sold 13,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $12.48, for a total value of $162,240.00. Following the transaction, the chief marketing officer now owns 15,159 shares of the company’s stock, valued at $189,184.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HarborOne Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of HarborOne Bancorp by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,461,705 shares of the financial services provider’s stock valued at $27,398,000 after buying an additional 67,913 shares during the last quarter. Renaissance Technologies LLC lifted its position in HarborOne Bancorp by 5.7% during the second quarter. Renaissance Technologies LLC now owns 387,241 shares of the financial services provider’s stock valued at $4,310,000 after acquiring an additional 20,800 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in HarborOne Bancorp by 192.0% in the second quarter. Cubist Systematic Strategies LLC now owns 28,700 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 18,870 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in HarborOne Bancorp by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 216,196 shares of the financial services provider’s stock worth $2,406,000 after purchasing an additional 11,438 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of HarborOne Bancorp by 63.3% during the third quarter. SG Americas Securities LLC now owns 21,069 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 8,169 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

HarborOne Bancorp Company Profile

(Get Free Report)

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.

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