HarborOne Bancorp, Inc. (NASDAQ:HONE) Expected to Announce Quarterly Sales of $62.20 Million


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Wall Street brokerages expect that HarborOne Bancorp, Inc. (NASDAQ:HONE) will post $62.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for HarborOne Bancorp’s earnings, with the lowest sales estimate coming in at $61.60 million and the highest estimate coming in at $62.80 million. HarborOne Bancorp posted sales of $45.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 36.5%. The business is scheduled to report its next quarterly earnings report on Monday, April 26th.

According to Zacks, analysts expect that HarborOne Bancorp will report full year sales of $242.25 million for the current year, with estimates ranging from $234.20 million to $250.30 million. For the next year, analysts expect that the firm will post sales of $223.55 million, with estimates ranging from $202.20 million to $244.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for HarborOne Bancorp.

HarborOne Bancorp (NASDAQ:HONE) last announced its earnings results on Wednesday, January 27th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. The company had revenue of $69.93 million during the quarter, compared to analysts’ expectations of $67.25 million. HarborOne Bancorp had a net margin of 11.64% and a return on equity of 4.63%.

HONE has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $12.00 target price on shares of HarborOne Bancorp in a research report on Thursday, February 25th. DA Davidson raised shares of HarborOne Bancorp from a “neutral” rating to a “buy” rating in a research report on Friday, March 5th. Finally, Zacks Investment Research raised shares of HarborOne Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, January 29th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. HarborOne Bancorp has an average rating of “Buy” and an average target price of $10.88.

Shares of HarborOne Bancorp stock opened at $13.51 on Thursday. The firm has a 50-day moving average of $13.19 and a 200-day moving average of $10.89. The stock has a market cap of $764.96 million, a PE ratio of 23.29 and a beta of 0.76. HarborOne Bancorp has a 52-week low of $6.91 and a 52-week high of $14.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.10.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Wednesday, April 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, April 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from HarborOne Bancorp’s previous quarterly dividend of $0.03. HarborOne Bancorp’s dividend payout ratio is 36.36%.

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of HarborOne Bancorp by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,632,444 shares of the financial services provider’s stock worth $61,168,000 after acquiring an additional 22,351 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of HarborOne Bancorp by 3.6% in the fourth quarter. BlackRock Inc. now owns 4,254,650 shares of the financial services provider’s stock worth $46,206,000 after acquiring an additional 148,289 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of HarborOne Bancorp by 12.1% in the fourth quarter. Alliancebernstein L.P. now owns 3,785,837 shares of the financial services provider’s stock worth $41,114,000 after acquiring an additional 408,235 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of HarborOne Bancorp by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,429,150 shares of the financial services provider’s stock worth $15,520,000 after acquiring an additional 45,109 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of HarborOne Bancorp by 4.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,312,038 shares of the financial services provider’s stock worth $14,250,000 after acquiring an additional 61,722 shares during the last quarter. 53.50% of the stock is owned by hedge funds and other institutional investors.

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. The company operates through two segments, HarborOne Bank and HarborOne Mortgage. Its primary deposit products include checking, money market, savings, and certificate of deposit accounts; and lending products comprise one-to four-family residential, second mortgages and lines of credit, residential real estate and construction, commercial real estate and construction, and commercial loans, as well as consumer loans, including indirect automobile lease loans.

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

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