HarborOne Bancorp Inc (NASDAQ:HONE) Short Interest Up 10.5% in July

HarborOne Bancorp Inc (NASDAQ:HONE) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 430,800 shares, a growth of 10.5% from the June 30th total of 390,000 shares. Based on an average trading volume of 74,000 shares, the days-to-cover ratio is currently 5.8 days. Approximately 3.0% of the shares of the company are sold short.

Several institutional investors have recently bought and sold shares of HONE. BlackRock Inc. grew its holdings in shares of HarborOne Bancorp by 1.7% during the 4th quarter. BlackRock Inc. now owns 862,718 shares of the financial services provider’s stock worth $13,708,000 after purchasing an additional 14,702 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of HarborOne Bancorp by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 75,072 shares of the financial services provider’s stock worth $1,192,000 after purchasing an additional 1,488 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of HarborOne Bancorp by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 294,670 shares of the financial services provider’s stock worth $4,682,000 after purchasing an additional 6,336 shares during the period. Geode Capital Management LLC grew its holdings in shares of HarborOne Bancorp by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 273,645 shares of the financial services provider’s stock worth $4,348,000 after purchasing an additional 8,597 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of HarborOne Bancorp by 72.9% during the 4th quarter. Bank of America Corp DE now owns 9,311 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 3,926 shares during the period. Institutional investors and hedge funds own 19.71% of the company’s stock.

Shares of HarborOne Bancorp stock traded down $0.93 during midday trading on Wednesday, hitting $19.00. 327,000 shares of the company were exchanged, compared to its average volume of 65,337. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.05. The company has a market capitalization of $639.34 million, a price-to-earnings ratio of 38.78 and a beta of 0.57. HarborOne Bancorp has a 52 week low of $14.90 and a 52 week high of $20.08. The firm has a 50 day simple moving average of $18.97.

HarborOne Bancorp (NASDAQ:HONE) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.15 EPS for the quarter. The business had revenue of $42.43 million during the quarter. HarborOne Bancorp had a return on equity of 4.41% and a net margin of 6.75%. As a group, sell-side analysts anticipate that HarborOne Bancorp will post 0.4 earnings per share for the current year.

A number of analysts have commented on the company. BidaskClub downgraded HarborOne Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. Janney Montgomery Scott assumed coverage on HarborOne Bancorp in a research report on Tuesday, August 6th. They issued a “buy” rating for the company. Compass Point upgraded HarborOne Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $22.00 in a research report on Friday, August 9th. ValuEngine upgraded HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, TheStreet upgraded HarborOne Bancorp from a “c” rating to a “b-” rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. HarborOne Bancorp has an average rating of “Buy” and an average target price of $20.50.

About HarborOne Bancorp

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.

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