Equities Analysts Set Expectations for HarborOne Bancorp Inc’s Q3 2020 Earnings (NASDAQ:HONE)

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HarborOne Bancorp Inc (NASDAQ:HONE) – Analysts at Piper Sandler increased their Q3 2020 earnings per share estimates for HarborOne Bancorp in a research note issued to investors on Monday, June 29th. Piper Sandler analyst M. Fitzgibbon now anticipates that the financial services provider will post earnings of $0.12 per share for the quarter, up from their previous estimate of $0.06. Piper Sandler also issued estimates for HarborOne Bancorp’s FY2020 earnings at $0.34 EPS.

A number of other equities research analysts also recently commented on the stock. DA Davidson assumed coverage on shares of HarborOne Bancorp in a research report on Monday, June 15th. They issued a “neutral” rating and a $9.50 price objective for the company. BidaskClub upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Compass Point reduced their price objective on shares of HarborOne Bancorp from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, ValuEngine upgraded shares of HarborOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.50.

NASDAQ HONE opened at $8.27 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 0.32. HarborOne Bancorp has a 52-week low of $6.45 and a 52-week high of $11.20. The business’s 50-day moving average price is $8.25 and its 200 day moving average price is $9.24. The firm has a market cap of $483.12 million, a P/E ratio of 21.56 and a beta of 0.89.

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

In related news, COO Joseph F. Casey purchased 14,000 shares of HarborOne Bancorp stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $7.20 per share, for a total transaction of $100,800.00. Following the transaction, the chief operating officer now owns 252,403 shares in the company, valued at $1,817,301.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.25% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of HONE. Alliancebernstein L.P. raised its position in shares of HarborOne Bancorp by 272.4% during the 1st quarter. Alliancebernstein L.P. now owns 2,840,403 shares of the financial services provider’s stock worth $21,388,000 after purchasing an additional 2,077,676 shares during the last quarter. BlackRock Inc. raised its position in shares of HarborOne Bancorp by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,767,130 shares of the financial services provider’s stock worth $20,836,000 after purchasing an additional 24,149 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of HarborOne Bancorp by 14.0% during the 4th quarter. Renaissance Technologies LLC now owns 919,076 shares of the financial services provider’s stock worth $10,101,000 after purchasing an additional 112,800 shares during the last quarter. M3F Inc. raised its position in shares of HarborOne Bancorp by 260.5% during the 1st quarter. M3F Inc. now owns 907,931 shares of the financial services provider’s stock worth $6,837,000 after purchasing an additional 656,096 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of HarborOne Bancorp by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 870,816 shares of the financial services provider’s stock worth $6,558,000 after purchasing an additional 43,755 shares during the last quarter. Institutional investors own 49.37% of the company’s stock.

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.

Further Reading: Gap Down Stocks

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

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