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HarborOne Bancorp

Nasdaq:HONE
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HONE
Nasdaq
$589M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

HarborOne Bancorp, Inc. operates as the holding company for HarborOne Bank that provides financial services to individuals, families, small and middle-market businesses, and municipalities. The last earnings update was 73 days ago. More info.


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HONE Share Price and Events
7 Day Returns
-1.3%
NasdaqGS:HONE
-1.1%
US Banks
-1.2%
US Market
1 Year Returns
-1.4%
NasdaqGS:HONE
-6.5%
US Banks
3.4%
US Market
HONE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
HarborOne Bancorp (HONE) -1.3% 1.7% 3.7% -1.4% 43.6% -
US Banks -1.1% 2.8% -0.5% -6.5% 45.1% 45.5%
US Market -1.2% 1.2% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • HONE outperformed the Banks industry which returned -6.5% over the past year.
  • HONE underperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
HONE
Industry
5yr Volatility vs Market

HONE Value

 Is HarborOne Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of HarborOne Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for HarborOne Bancorp.

NasdaqGS:HONE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $10.86 * 2.9%
$0.32
Book Value of Equity per Share Median Book Value from the past 5 years. $10.86
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:HONE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.596 (1 + (1- 21%) (67.3%))
0.942
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.942 * 5.96%)
8.34%

Discounted Cash Flow Calculation for NasdaqGS:HONE using Excess Returns Model Model

The calculations below outline how an intrinsic value for HarborOne Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:HONE Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (2.9% – 8.34%) * $10.86)
$-0.59
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.59 / (8.34% - 2.73%)
$-10.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $10.86 + $-10.53
$0.34
NasdaqGS:HONE Discount to Share Price
Calculation Result
Value per share (USD) From above. $0.34
Current discount Discount to share price of $18.72
= -1 x ($18.72 - $0.34) / $0.34
-5427.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of HarborOne Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for HarborOne Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are HarborOne Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:HONE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.36
NasdaqGS:HONE Share Price ** NasdaqGS (2019-07-19) in USD $18.72
United States of America Banks Industry PE Ratio Median Figure of 594 Publicly-Listed Banks Companies 12.73x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of HarborOne Bancorp.

NasdaqGS:HONE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:HONE Share Price ÷ EPS (both in USD)

= 18.72 ÷ 0.36

52.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HarborOne Bancorp is overvalued based on earnings compared to the US Banks industry average.
  • HarborOne Bancorp is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does HarborOne Bancorp's expected growth come at a high price?
Raw Data
NasdaqGS:HONE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 52.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
34.4%per year
United States of America Banks Industry PEG Ratio Median Figure of 270 Publicly-Listed Banks Companies 1.19x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NasdaqGS:HONE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 52.73x ÷ 34.4%

1.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HarborOne Bancorp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on HarborOne Bancorp's assets?
Raw Data
NasdaqGS:HONE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $11.52
NasdaqGS:HONE Share Price * NasdaqGS (2019-07-19) in USD $18.72
United States of America Banks Industry PB Ratio Median Figure of 594 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NasdaqGS:HONE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:HONE Share Price ÷ Book Value per Share (both in USD)

= 18.72 ÷ 11.52

1.63x

* Primary Listing of HarborOne Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HarborOne Bancorp is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess HarborOne Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. HarborOne Bancorp has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HONE Future Performance

 How is HarborOne Bancorp expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is HarborOne Bancorp expected to grow at an attractive rate?
  • HarborOne Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • HarborOne Bancorp's earnings growth is expected to exceed the United States of America market average.
  • HarborOne Bancorp's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:HONE Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:HONE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 34.4%
NasdaqGS:HONE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -9.5%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:HONE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:HONE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 113 19 2
2019-12-31 105 12 1
NasdaqGS:HONE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 139 53 11
2018-12-31 134 61 11
2018-09-30 129 76 13
2018-06-30 128 44 10
2018-03-31 127 42 10
2017-12-31 125 44 10
2017-09-30 128 38 12
2017-06-30 130 27 12
2017-03-31 128 33 9
2016-12-31 124 -4 6
2016-09-30 116 13 5
2016-06-30 109 14 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • HarborOne Bancorp's earnings are expected to grow significantly at over 20% yearly.
  • HarborOne Bancorp's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:HONE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from HarborOne Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:HONE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.61 0.81 0.41 2.00
2019-12-31 0.39 0.39 0.39 1.00
NasdaqGS:HONE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.36
2018-12-31 0.36
2018-09-30 0.41
2018-06-30 0.31
2018-03-31 0.32
2017-12-31 0.33
2017-09-30 0.37
2017-06-30 0.40
2017-03-31 0.28
2016-12-31 0.19
2016-09-30 0.15
2016-06-30 0.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if HarborOne Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess HarborOne Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
HarborOne Bancorp has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HONE Past Performance

  How has HarborOne Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare HarborOne Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • HarborOne Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • HarborOne Bancorp's 1-year earnings growth is less than its 5-year average (13.3% vs 29.8%)
  • HarborOne Bancorp's earnings growth has not exceeded the US Banks industry average in the past year (13.3% vs 38.2%).
Earnings and Revenue History
HarborOne Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from HarborOne Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:HONE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 138.65 11.21 103.55
2018-12-31 134.30 11.39 99.23
2018-09-30 128.99 12.88 96.28
2018-06-30 127.83 9.79 96.87
2018-03-31 127.31 9.90 95.64
2017-12-31 125.27 10.38 93.31
2017-09-30 128.02 11.72 93.22
2017-06-30 130.11 12.44 92.90
2017-03-31 127.80 8.54 91.74
2016-12-31 123.93 5.93 91.76
2016-09-30 116.39 4.54 87.75
2016-06-30 108.84 3.23 83.59
2016-03-31 95.06 4.97 74.26
2015-12-31 86.34 5.77 65.35
2014-12-31 58.22 2.57 45.94

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • HarborOne Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • HarborOne Bancorp used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if HarborOne Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess HarborOne Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
HarborOne Bancorp has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HONE Health

 How is HarborOne Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of HarborOne Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from HarborOne Bancorp Company Filings, last reported 3 months ago.

NasdaqGS:HONE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 363.45 396.47 105.01
2018-12-31 357.57 557.56 103.98
2018-09-30 353.35 269.82 101.49
2018-06-30 348.58 292.35 138.66
2018-03-31 344.86 230.23 112.22
2017-12-31 343.48 292.64 81.74
2017-09-30 340.60 279.07 99.22
2017-06-30 336.64 265.82 104.05
2017-03-31 332.74 276.19 104.75
2016-12-31 329.38 275.94 49.59
2016-09-30 327.91 250.34 27.28
2016-06-30 324.29 201.46 38.74
2016-03-31 191.88 273.15 119.75
2015-12-31 190.69 250.91 41.84
2014-12-31 183.46 329.65 51.07
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • HarborOne Bancorp has an acceptable proportion of non-loan assets held.
  • HarborOne Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at HarborOne Bancorp are broadly funded by customer deposits.
  • HarborOne Bancorp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • HarborOne Bancorp has a sufficient allowance for bad loans.
  • HarborOne Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess HarborOne Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. HarborOne Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HONE Dividends

 What is HarborOne Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from HarborOne Bancorp dividends.
If you bought $2,000 of HarborOne Bancorp shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate HarborOne Bancorp's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate HarborOne Bancorp's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:HONE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2016 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:HONE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as HarborOne Bancorp has not reported any payouts.
  • Unable to verify if HarborOne Bancorp's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of HarborOne Bancorp's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as HarborOne Bancorp has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess HarborOne Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can HarborOne Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. HarborOne Bancorp has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HONE Management

 What is the CEO of HarborOne Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Blake
COMPENSATION $1,787,571
AGE 68
TENURE AS CEO 3.5 years
CEO Bio

Mr. James W. Blake, also known as Jim, has been the Chief Executive Officer of HarborOne Bancorp, Inc. since 2016 and HarborOne Bank (formerly Harborone Credit Union) since 1995 and served as the President from 1995 to May 10, 2018. He serves as Secretary of HarborOne Bancorp. Mr. Blake serves as Clerk of HarborOne Bancorp Inc. (MHC). He served as President of HarborOne Bancorp, Inc. and HarborOne Bank from 1995 to February 23, 2017. He served as Chief Operating Officer of HarborOne Bank from 1993 to 1994. Prior to joining HarborOne Bank, Mr. Blake served as Senior Vice President of Retail Banking and Marketing at Mechanics Bank in Worcester, Massachusetts, from 1986 to 1993. Mr. Blake has served on the Community Depository Institutions Advisory Council of the Federal Reserve Bank of Boston. Since 2011, he has served on the Signature Healthcare Executive Business Council and the YMCA Foundation. He has been a Director of Massachusetts Development Finance Agency since October 2016. He has been a Director of Harborone Bancorp, Inc. and HarborOne Bank since 1995. He has been a Director of the Connecticut Online Computer Center since 2003. He also served on the board of the Massachusetts Credit Union League, from 1998 to 2012.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jim's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the HarborOne Bancorp management team in years:

5.3
Average Tenure
59
Average Age
  • The average tenure for the HarborOne Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jim Blake

TITLE
CEO, Secretary
COMPENSATION
$2M
AGE
68
TENURE
3.5 yrs

Joe Casey

TITLE
President
COMPENSATION
$1M
AGE
58
TENURE
1.2 yrs

Linda Simmons

TITLE
Senior VP & CFO
AGE
59
TENURE
1.2 yrs

Jackie Mayo

TITLE
Branch Administration Officer
TENURE
9.3 yrs

Andrea Carinci

TITLE
Vice President of Compliance

David Tryder

TITLE
Senior VP & Chief Marketing Officer
AGE
53
TENURE
5.5 yrs

Andy Puga

TITLE
Business Solutions and Development Officer
TENURE
5 yrs

Patricia Williams

TITLE
Senior VP & Human Resources Officer
AGE
59

Leo Donahue

TITLE
Senior Vice President of Retail Officer
AGE
70
TENURE
12.5 yrs

Christopher Gibbons

TITLE
Senior Vice President of Consumer Lending
AGE
67
TENURE
20.5 yrs
Board of Directors Tenure

Average tenure and age of the HarborOne Bancorp board of directors in years:

8
Average Tenure
66
Average Age
  • The tenure for the HarborOne Bancorp board of directors is about average.
Board of Directors

Michael Sullivan

TITLE
Chairman of the Board
COMPENSATION
$73K
AGE
64
TENURE
1.2 yrs

Jim Blake

TITLE
CEO, Secretary
COMPENSATION
$2M
AGE
68
TENURE
24.5 yrs

Joe Casey

TITLE
President
COMPENSATION
$1M
AGE
58
TENURE
2.4 yrs

Wallace Peckham

TITLE
Director
COMPENSATION
$71K
AGE
76
TENURE
38.5 yrs

David Frenette

TITLE
Director
COMPENSATION
$85K
AGE
64
TENURE
12.5 yrs

Gordon Jezard

TITLE
Director
COMPENSATION
$71K
AGE
84
TENURE
36.5 yrs

Barry Koretz

TITLE
Director
COMPENSATION
$82K
AGE
74
TENURE
32.5 yrs

Joseph Barry

TITLE
Director
COMPENSATION
$75K
AGE
78
TENURE
3.5 yrs

Timothy Lynch

TITLE
Director
COMPENSATION
$70K
AGE
64
TENURE
1.5 yrs

Bill Payne

TITLE
Director
COMPENSATION
$71K
AGE
62
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • HarborOne Bancorp individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. May 19 Sell Wallace Peckham Individual 09. May 19 09. May 19 -4,000 $18.69 $-74,770
16. Jan 19 Buy Damian Wilmot Individual 14. Jan 19 14. Jan 19 100 $15.81 $1,581
08. Sep 18 Sell David Tryder Individual 05. Sep 18 05. Sep 18 -3,400 $19.68 $-66,899
06. Sep 18 Sell Christopher Gibbons Individual 05. Sep 18 05. Sep 18 -3,418 $19.60 $-66,993
X
Management checks
We assess HarborOne Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. HarborOne Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HONE News

Simply Wall St News

What You Should Know About HarborOne Bancorp, Inc.’s (NASDAQ:HONE) Risks

As a small-cap bank with a market capitalisation of US$544m, HarborOne Bancorp, Inc.’s (NASDAQ:HONE) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off HarborOne Bancorp’s bottom line. … Today we will analyse HarborOne Bancorp’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

Could HarborOne Bancorp, Inc.'s (NASDAQ:HONE) Investor Composition Influence The Stock Price?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … It has a market capitalization of US$509m, which means it wouldn't have the attention of many institutional investors.

Simply Wall St -

Don't Sell HarborOne Bancorp, Inc. (NASDAQ:HONE) Before You Read This

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Are You Considering All The Risks For HarborOne Bancorp, Inc.’s (NASDAQ:HONE)?

Its profit and value are directly impacted by its borrowers’ ability to pay which is driven by the level of economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting HarborOne Bancorp’s bottom line. … Check out our latest analysis for HarborOne Bancorp

Simply Wall St -

Understated Factors To Consider Before Investing In HarborOne Bancorp Inc (NASDAQ:HONE)

HarborOne Bancorp Inc’s (NASDAQ:HONE) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$562m. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like HarborOne Bancorp to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place HarborOne Bancorp in a safe position in the face of adverse headwinds.

Simply Wall St -

Should You Be Tempted To Sell HarborOne Bancorp Inc (NASDAQ:HONE) At Its Current PE Ratio?

I am writing today to help inform people who are new to the stock market. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio

Simply Wall St -

Why HarborOne Bancorp Inc's (NASDAQ:HONE) ROE Of 2.87% Does Not Tell The Whole Story

and want to learn about Return on Equity using a real-life example. … HarborOne Bancorp Inc’s (NASDAQ:HONE) most recent return on equity was a substandard 2.87% relative to its industry performance of 8.45% over the past year. … Knowing these components could change your view on HONE’s performance.

Simply Wall St -

Risk Factors To Consider Before Investing In HarborOne Bancorp Inc (NASDAQ:HONE)

As a small-cap bank with a market capitalisation of US$595.71m, HarborOne Bancorp Inc’s (NASDAQ:HONE) profit and value are directly affected by economic activity. … Risk associate with repayment is measured by the level of bad debt which is an expense written off HarborOne Bancorp’s bottom line. … Today we will analyse HarborOne Bancorp’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank.

Simply Wall St -

HONE Company Info

Description

HarborOne Bancorp, Inc. operates as the holding company for HarborOne Bank that provides financial services to individuals, families, small and middle-market businesses, and municipalities. The company operates through two segments, HarborOne Bank and HarborOne Mortgage. Its primary deposit products include checking, money market, savings, and term certificate of deposit accounts; and lending products comprise one-to four-family residential, second mortgages and lines of credit, residential construction, commercial real estate and construction, and commercial loans, as well as consumer loans, including indirect automobile lease loans. The company, through HarborOne Mortgage, LLC, originates, sells, and services residential mortgage loans. It also provides a range of educational services through HarborOne U, such as classes on small business, financial literacy, and personal enrichment. As of March 5, 2019, the company operated 24 full-service branches located in Massachusetts and Rhode Island; and one limited-service bank office, as well as a commercial lending office in each of Boston, Massachusetts, and Providence, Rhode Island. It also operates administrative offices in Brockton, Massachusetts, and Warwick, Rhode Island, as well as 5 ATM locations; and 34 mortgage offices in Massachusetts, Rhode Island, New Hampshire, Maine, and New Jersey. The company was founded in 1917 and is based in Brockton, Massachusetts. HarborOne Bancorp, Inc. is a subsidiary of Harborone Mutual Bancshares.

Details
Name: HarborOne Bancorp, Inc.
HONE
Exchange: NasdaqGS
Founded: 1917
$589,073,827
31,467,619
Website: http://www.harborone.com
Address: HarborOne Bancorp, Inc.
770 Oak Street,
Brockton,
Massachusetts, 02301,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS HONE Share Capital Nasdaq Global Select US USD 30. Jun 2016
Number of employees
Current staff
Staff numbers
658
HarborOne Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/21 01:25
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.