BidaskClub Downgrades HarborOne Bancorp (HONE) to Sell

BidaskClub cut shares of HarborOne Bancorp (NASDAQ:HONE) from a hold rating to a sell rating in a report issued on Friday.

HarborOne Bancorp (NASDAQ HONE) traded up $0.04 during midday trading on Friday, hitting $19.26. 14,347 shares of the stock were exchanged, compared to its average volume of 45,240. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.78. HarborOne Bancorp has a 52 week low of $15.92 and a 52 week high of $22.29. The firm has a market capitalization of $627.77, a P/E ratio of 52.05 and a beta of 0.29.

HarborOne Bancorp (NASDAQ:HONE) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). HarborOne Bancorp had a net margin of 8.02% and a return on equity of 3.50%. The business had revenue of $33.90 million during the quarter.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HONE. Royce & Associates LP raised its position in HarborOne Bancorp by 24.1% during the third quarter. Royce & Associates LP now owns 279,200 shares of the financial services provider’s stock valued at $5,252,000 after purchasing an additional 54,200 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in HarborOne Bancorp during the third quarter valued at approximately $349,000. Schwab Charles Investment Management Inc. raised its position in HarborOne Bancorp by 163.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 105,803 shares of the financial services provider’s stock valued at $1,991,000 after purchasing an additional 65,703 shares in the last quarter. Wells Fargo & Company MN raised its position in HarborOne Bancorp by 22.3% during the third quarter. Wells Fargo & Company MN now owns 16,930 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 3,090 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in HarborOne Bancorp by 7.0% during the third quarter. Bank of New York Mellon Corp now owns 65,634 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 4,269 shares in the last quarter. Institutional investors own 16.73% of the company’s stock.

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HarborOne Bancorp Company Profile

HarborOne Bancorp, Inc is a mid-tier stock holding company. The Company’s principal subsidiary is HarborOne Bank (the Bank), a state chartered co-operative bank whose primary subsidiary is a residential mortgage company, Merrimack Mortgage Company, LLC (Merrimack Mortgage). The Company operates through two segments: HarborOne Bank and Merrimack Mortgage.

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