HarborOne Bancorp (HONE) Downgraded to “Sell” at BidaskClub

HarborOne Bancorp (NASDAQ:HONE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

HarborOne Bancorp (NASDAQ HONE) opened at $19.13 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.09 and a current ratio of 1.14. The stock has a market cap of $618.30, a PE ratio of 51.70 and a beta of 0.29. HarborOne Bancorp has a one year low of $15.92 and a one year high of $22.29.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in shares of HarborOne Bancorp by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 13,076 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 355 shares during the period. Victory Capital Management Inc. lifted its stake in shares of HarborOne Bancorp by 0.9% in the 2nd quarter. Victory Capital Management Inc. now owns 52,390 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 465 shares during the period. Citadel Advisors LLC lifted its stake in shares of HarborOne Bancorp by 16.2% in the 2nd quarter. Citadel Advisors LLC now owns 17,954 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 2,505 shares during the period. Wells Fargo & Company MN lifted its stake in shares of HarborOne Bancorp by 22.3% in the 3rd quarter. Wells Fargo & Company MN now owns 16,930 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 3,090 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of HarborOne Bancorp by 7.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 65,634 shares of the financial services provider’s stock worth $1,235,000 after purchasing an additional 4,269 shares during the period. Institutional investors and hedge funds 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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