Harborone Bancorp Inc Stock Price, News & Analysis

HarborOne Bancorp, Inc. (NASDAQ: HONE) has declared a quarterly cash dividend of $0.075 per share, marking a 7% increase from the previous dividend of $0.07 paid on January 17, 2023. The dividend will be disbursed on April 26, 2023, to shareholders on record as of April 12, 2023. This increase, supported by the company's current and projected earnings, equates to an annualized rate of $0.30 per share.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has scheduled its 2023 annual meeting of shareholders for May 17, 2023, at 10:00 a.m. local time, to be held at Goodwin Procter LLP, Boston, Massachusetts. Shareholders on record as of March 21, 2023, will be eligible to vote. The Company will issue further details in its proxy statement. HarborOne Bancorp operates HarborOne Bank, which offers financial services in Eastern Massachusetts and Rhode Island through 31 full-service branches and additional resources like “HarborOne U” for financial education.

HarborOne Bancorp, Inc. (NASDAQ: HONE) reported a net income of $45.6 million for 2022, a 22.1% drop from $58.5 million in 2021. For Q4 2022, net income was $9.6 million, down from $13.8 million in Q3 2022. Key highlights include a 13.4% increase in net interest income to $39.2 million, driven by growth in loans and deposit growth of 13.8%. Nonperforming loans decreased significantly to 0.32% of total loans. However, total noninterest income fell 30.5% QoQ. The Company's total assets rose by 7.5% to $5.36 billion, reflecting strong loan growth.

HarborOne Bancorp, Inc. (NASDAQ: HONE) declared a quarterly cash dividend of $0.07 per share, payable on January 17, 2023, to shareholders of record as of the close of business on January 3, 2023. This announcement reflects the company's ongoing commitment to returning value to its shareholders amidst the challenges posed by the COVID-19 pandemic. HarborOne Bancorp, operating through its bank in Massachusetts and Rhode Island, continues to prioritize its financial stability and customer service.

HarborOne Bancorp reported a third-quarter net income of $13.8 million, or $0.30 per share, reflecting a 37.8% increase from the previous quarter. Loan growth reached $285.4 million (7.3%), contributing to a total asset increase of $283.6 million (6.0%). Net interest income rose 12.7% to $39.3 million. However, total noninterest income decreased 35.3% year-over-year. The effective tax rate improved to 25.4% from 27.6% in the prior quarter. The bank maintains strong capital ratios while facing unrealized losses on securities.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has declared a quarterly cash dividend of $0.07 per share, scheduled for payment on October 26, 2022 to shareholders of record as of October 12, 2022. This decision reflects the company’s ongoing commitment to return value to shareholders. The press release also includes cautionary statements about potential risks and uncertainties, emphasizing that actual results may differ from expectations due to various factors including economic conditions and credit risks.

HarborOne Bancorp, Inc. (NASDAQ: HONE) announced a share repurchase program approved by regulators, allowing the buyback of up to 2,450,208 shares, representing about 5% of outstanding shares. This program follows a previous buyback initiated on April 12, 2022. Shares will be purchased in open market transactions as per market conditions and operational requirements. The program can be suspended or terminated at any time and is set to expire on September 21, 2023.

HarborOne Bancorp reported a net income of $10.0 million or $0.21 per share for Q2 2022, a decline from $12.3 million in Q1 2022 and $14.3 million in Q2 2021. Loan growth reached $174.6 million (4.7%), while core deposits grew $96.3 million (3.0%). Net interest margin increased 27 basis points to 3.48%. Total noninterest income dropped 26.0% to $14.1 million, primarily due to mortgage banking income decline. Noninterest expenses rose slightly to $35.0 million.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has announced a quarterly cash dividend of $0.07 per share, payable on July 27, 2022, to shareholders of record by July 13, 2022. This dividend declaration reflects the company's ongoing commitment to returning value to its investors amidst a challenging economic landscape influenced by the COVID-19 pandemic and evolving market conditions. HarborOne Bancorp, the parent company of HarborOne Bank, operates in Eastern Massachusetts and Rhode Island, serving both consumers and businesses.