HarborOne Bancorp, Inc. (NASDAQ:HONE) to Issue $0.08 Quarterly Dividend

HarborOne Bancorp, Inc. (NASDAQ:HONE) announced a quarterly dividend on Monday, September 30th, Wall Street Journal reports. Shareholders of record on Monday, October 14th will be given a dividend of 0.08 per share by the financial services provider on Monday, October 28th. This represents a $0.32 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, October 11th.

HarborOne Bancorp has raised its dividend payment 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 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 Stock Down 2.2 %

HarborOne Bancorp stock traded down $0.27 during trading on Wednesday, reaching $12.18. 87,746 shares of the company’s stock were exchanged, compared to its average volume of 141,615. HarborOne Bancorp has a 52-week low of $9.14 and a 52-week high of $14.00. The firm has a market cap of $544.15 million, a price-to-earnings ratio of 33.65 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. The company’s 50-day moving average is $12.70 and its two-hundred day moving average is $11.30.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other 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 completion of the sale, the chief marketing officer now owns 15,159 shares in the company, valued at $189,184.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.