HarborOne Bancorp (HONE) Declares $0.08 Dividend
HarborOne Bancorp said on March 30, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.30 annualized). Previously, the company paid $0.07 per share.
Shares must be purchased before the ex-div date of April 11, 2023 to qualify for the dividend. Shareholders of record as of April 12, 2023 will receive the payment on April 26, 2023.
At the current share price of $12.17 / share, the stock's dividend yield is 2.47%. Looking back five years and taking a sample every week, the average dividend yield has been 1.88%, the lowest has been 0.86%, and the highest has been 4.57%. The standard deviation of yields is 0.71 (n=236).
The current dividend yield is 0.82 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 18.73% Upside
As of March 30, 2023, the average one-year price target for HarborOne Bancorp is $14.45. The forecasts range from a low of $13.13 to a high of $16.80. The average price target represents an increase of 18.73% from its latest reported closing price of $12.17.
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The projected annual revenue for HarborOne Bancorp is $163MM, a decrease of 18.88%. The projected annual non-GAAP EPS is $1.05.
What is the Fund Sentiment?
There are 305 funds or institutions reporting positions in HarborOne Bancorp. This is a decrease of 15 owner(s) or 4.69% in the last quarter. Average portfolio weight of all funds dedicated to HONE is 0.08%, a decrease of 17.05%. Total shares owned by institutions decreased in the last three months by 1.88% to 32,090K shares. The put/call ratio of HONE is 0.12, indicating a bullish outlook.
What are Large Shareholders Doing?
T. Rowe Price Investment Management holds 4,905K shares representing 10.87% ownership of the company. In it's prior filing, the firm reported owning 4,915K shares, representing a decrease of 0.21%. The firm decreased its portfolio allocation in HONE by 0.73% over the last quarter.
Alliancebernstein holds 3,062K shares representing 6.78% ownership of the company. In it's prior filing, the firm reported owning 3,145K shares, representing a decrease of 2.71%. The firm decreased its portfolio allocation in HONE by 6.26% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 3,052K shares representing 6.76% ownership of the company. In it's prior filing, the firm reported owning 3,057K shares, representing a decrease of 0.17%. The firm increased its portfolio allocation in HONE by 1.11% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,369K shares representing 3.03% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 1,092K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 1,000K shares, representing an increase of 8.38%. The firm increased its portfolio allocation in HONE by 2.38% over the last quarter.
HarborOne Bancorp Background Information
(This description is provided by the company.)
HarborOne Bancorp, Inc. is the holding company for HarborOne Bank, a Massachusetts-chartered savings bank. HarborOne Bank serves the financial needs of consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island through a network of 26 full-service branches located in Massachusetts and Rhode Island, and a commercial lending office in each of Boston, Massachusetts and Providence, Rhode Island. The Bank also provides a range of educational services through 'HarborOne U,' with classes on small business, financial literacy and personal enrichment at two campuses located adjacent to its Brockton and Mansfield locations. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, is a full-service mortgage lender with more than 30 offices in Massachusetts, Rhode Island, New Hampshire, Maine, New Jersey and Florida and is licensed to lend in four additional states.
This story originally appeared on Fintel.