Harborone Bancorp Inc Stock Price, News & Analysis

HarborOne Bancorp, Inc. (NASDAQ: HONE) has initiated a new share repurchase program, allowing the company to buy back up to 2,668,159 shares, approximately 5% of its outstanding shares. This program is authorized through regulatory approval and follows a previous buyback completed on September 8, 2021. The repurchase will be conducted in open market transactions, depending on factors like market conditions and corporate priorities. Any repurchased shares will be held as authorized but unissued shares, and the program may be suspended or terminated at any time before its expiration on September 17, 2022.

HarborOne Bancorp reported a net income of $14.3 million ($0.27 per diluted share) for Q2 2021, declining from $19.4 million ($0.37) in Q1 and increasing from $10.6 million ($0.19) a year prior. Year-to-date income reached $33.7 million ($0.64), doubling from $15.3 million in the same period last year. The bank maintained strong asset quality with net recoveries of 0.02% and a $4.3 million provision reversal. Notably, total noninterest income fell 42.6% to $21.7 million, attributed to decreased mortgage activity. Total assets slightly increased to $4.62 billion.

HarborOne Bancorp, Inc. (NASDAQ: HONE) announced that Camille Madden, President of HarborOne Mortgage, was named one of Mortgage Banker’s 2021 Powerful Women of Mortgage Banking. Under Ms. Madden's leadership, HarborOne Mortgage's income surged to $31.9 million in 2020, marking a 145.6% increase from 2019. The bank continues to thrive with $4.61 billion in assets and serves clients across Massachusetts and Rhode Island through 26 branches. The recognition highlights Ms. Madden's impact on the mortgage division and her commitment to community engagement.

HarborOne Bancorp, Inc. (NASDAQ: HONE) announced a quarterly cash dividend of $0.05 per share, payable on July 28, 2021 to shareholders of record by July 14, 2021. This declaration reflects the company's commitment to returning value to its shareholders. The release includes forward-looking statements, surrounded by significant risks, including the potential impacts of COVID-19 on operations and credit quality.

HarborOne Bancorp reported a net income of $19.4 million, equating to $0.37 per share for Q1 2021, surpassing both the prior quarter and the same period last year. The quarterly dividend increased by 67% to $0.05 per share. Total assets rose by 2.7% to $4.61 billion, with a 4.8% growth in deposits. Despite a 2.1% decrease in net interest income, noninterest income increased by 2.1%.

Management remains optimistic about growth in a stabilizing economic environment.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has announced a new share repurchase program, allowing the company to buy back up to 2,790,903 shares, approximately 5% of its common stock as of March 31, 2021. This initiative, subject to regulatory approval, aims to enhance shareholder value. The repurchases will occur in open market transactions and may depend on various factors including market conditions. The program can be suspended or terminated at any time and is set to expire on April 16, 2022.

HarborOne Bancorp, Inc. (NASDAQ: HONE) has declared a quarterly cash dividend of $0.05 per share, an increase from $0.03 paid previously. This dividend will be paid on April 28, 2021, to shareholders of record by April 14, 2021. The annualized dividend rate is $0.20 per share. Executives noted that this increase is backed by strong financial performance and projected earnings, supporting continued growth initiatives.

HarborOne Bancorp, Inc. (NASDAQ: HONE) announced its 2021 annual meeting of shareholders will occur virtually on May 26, 2021, at 10:00 AM ET. Shareholders of record as of March 29, 2021, can vote. The announcement also sets a new deadline for shareholder proposals under Rule 14a-8, which must be submitted by February 25, 2021, to be included in the proxy materials. Proposals submitted after this date will not be considered. HarborOne Bancorp operates HarborOne Bank and provides various financial services in Eastern Massachusetts and Rhode Island.

HarborOne Bancorp (NASDAQ: HONE) reported a net income of $17.6 million, or $0.33 per share, for Q4 2020, up from $11.9 million in Q3 2020 and $4.3 million in Q4 2019. For the year, net income totaled $44.8 million, a significant increase compared to $18.3 million in 2019. Major financial highlights include a 145.6% rise in mortgage banking income, totaling $31.9 million, and a 4.2% growth in deposits. The return on average assets stood at 1.61%, while the return on equity reached 10.13%.