HarborOne Bancorp (NASDAQ:HONE) Stock Rating Lowered by One Cardinal Point

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HarborOne Bancorp (NASDAQ:HONE – Get an Assessment) was downgraded by Compass Point equity researchers from a “buy” rating to a “neutral” rating in a research report released Wednesday to clients and investors, The Fly reports.

HONE has been the subject of a number of other research reports. StockNews.com launched coverage on HarborOne Bancorp in a research note on Wednesday, October 12. They set a “hold” rating for the company. Piper Sandler lowered her price target on HarborOne Bancorp to $13.50 in a Wednesday, October 5 research note.

HarborOne Bancorp shares fall 0.8%

Shares of HONE traded down $0.12 on Wednesday, hitting $14.31. The stock recorded a trading volume of 165,092 shares, compared to an average volume of 171,822 shares. The company has a market capitalization of $717.96 million, a price-earnings ratio of 15.06 and a beta of 0.68. The company has a debt ratio of 0.08, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $14.00 and a 200-day simple moving average of $13.96. HarborOne Bancorp has a 12 month minimum of $13.25 and a 12 month maximum of $15.45.

HarborOne Bancorp (NASDAQ:HONE – Get Rating) last released its results on Tuesday, July 26. The financial services provider reported EPS of $0.21 for the quarter, missing analyst consensus estimates of $0.22 per ($0.01). The company posted revenue of $51.30 million in the quarter, compared to $50.95 million expected by analysts. HarborOne Bancorp had a net margin of 21.22% and a return on equity of 7.16%. Sell-side analysts expect HarborOne Bancorp to post EPS of 0.94 for the current year.

HarborOne Bancorp Institutional Trading

Hedge funds have recently been buying and selling stocks. FMR LLC increased its holdings in HarborOne Bancorp by 27.8% during the second quarter. FMR LLC now owns 4,070 shares of the financial services provider valued at $56,000 after purchasing an additional 885 shares during the period. Spire Wealth Management bought a new stock position in HarborOne Bancorp in the second quarter worth about $74,000. Amalgamated Bank bought a new stock position in HarborOne Bancorp in the first quarter worth about $81,000. Marino Stram & Associates LLC bought a new stock position in HarborOne Bancorp in the third quarter worth approximately $137,000. Finally, SG Americas Securities LLC bought a new position in HarborOne Bancorp stock in the second quarter worth approximately $143,000. Institutional investors hold 45.34% of the company’s shares.

HarborOne Bancorp Company Profile

(Get a rating)

HarborOne Bancorp, Inc operates as a holding company for HarborOne Bank which provides financial services to individuals, families, small and medium 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 deposit certificate accounts; and lending products include commercial real estate, commercial and residential mortgages, and consumer loans, including indirect auto lease loans.

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