Harborone Bancorp Inc Stock Price, News & Analysis

HarborOne Bancorp (NASDAQ: HONE) reported a net income of $12.3 million for Q1 2022, down from $19.4 million year-over-year. Earnings per share remained at $0.25, with significant commercial loan growth of $123.3 million or 5.5%. Total assets rose 0.8% to $4.59 billion, with total deposits at $3.76 billion. The net interest margin ticked up to 3.21%, while nonperforming assets improved to 0.57% of total assets. A 40% dividend increase was announced alongside a fourth share repurchase program.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has announced a new share repurchase program for up to 2,526,134 shares, representing about 5% of its outstanding shares. This program follows the completion of a previous buyback on March 25, 2022, and has received the necessary regulatory approvals. Share repurchases will depend on market conditions, corporate needs, and regulatory requirements. The program can be suspended or terminated at any time and is set to expire on April 12, 2023.

HarborOne Bancorp, Inc. (NASDAQ: HONE) announced a quarterly cash dividend increase from $0.05 to $0.07 per share, marking a 40% rise. The dividend will be paid on April 27, 2022 to shareholders of record as of April 13, 2022. CEO James W. Blake noted that this increase is supported by current and projected earnings. This results in an annualized dividend rate of $0.28 per share, reflecting the company's strong financial performance and commitment to returning value to shareholders.

HarborOne Bancorp, Inc. (NASDAQ: HONE) announced its 2022 Annual Meeting of Shareholders will be held on May 18, 2022, at 10:00 a.m. in Randolph, Massachusetts. Shareholders of record as of March 22, 2022, are entitled to vote, with options for remote participation. Further details regarding remote access will be provided in the proxy statement. HarborOne Bancorp is the holding company for HarborOne Bank, which operates 30 branches in Eastern Massachusetts and Rhode Island, serving various financial needs and offering educational services through HarborOne U.

The Board of Directors of HarborOne Bancorp, Inc. (NASDAQ: HONE) announced that CEO James W. Blake will retire on May 18, 2022. Joseph F. Casey, currently President and COO, will succeed him as CEO on May 19, 2022. Blake, who has led the company since 1995, oversaw significant growth, increasing assets from $458 million to over $4.5 billion and expanding branches from 7 to 30. Casey has been with the bank since 2004 and has held various leadership roles. The transition marks a continued commitment to growth and community service.

HarborOne Bancorp (HONE) reported a net income of $58.5 million, or $1.14 per diluted share, for the year ended December 31, 2021, marking a 30.6% increase from 2020. For Q4 2021, net income was $12.6 million, slightly up from Q3 2021's $12.3 million but down from $17.6 million in Q4 2020. Key highlights include 12.1% commercial loan growth and a 9.4% rise in net interest income year-over-year. The company maintained a return on average assets of 1.29% and plans to continue expanding in metro Boston.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has declared a quarterly cash dividend of $0.05 per share, scheduled for payment on January 18, 2022. Shareholders of record as of the close of business on January 4, 2022 will receive this dividend. The announcement highlights the company's ongoing commitment to returning value to its shareholders amidst potential challenges in the financial landscape, including ongoing pandemic impacts and economic uncertainties, which may affect future financial results.

HarborOne Bancorp reported a net income of $12.3 million, or $0.24 per diluted share for Q3 2021, down from $14.3 million in Q2 2021. Year-to-date income rose to $45.9 million compared to $27.2 million last year. Key highlights included commercial loan growth of $52.8 million and a $1.6 million reversal in loan loss provisions. However, net interest income increased slightly to $32.8 million, with a net interest margin of 3.08%. The bank announced a new branch expansion in Boston, aiming to bolster its market presence.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has declared a quarterly cash dividend of $0.05 per share, payable on October 27, 2021, to shareholders of record by October 13, 2021. This announcement reflects the company's ongoing commitment to return value to its shareholders. HarborOne Bancorp is the holding company of HarborOne Bank, which operates 27 branches in Massachusetts and Rhode Island, serving various financial needs across the regions.