HarborOne Bancorp
Market Cap
US$388.6m
Last Updated
2020/04/04 03:47 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -8% per year for the next 3 years
Snowflake Analysis
Excellent balance sheet with solid track record.
Similar Companies
Share Price & News
How has HarborOne Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: HONE's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-3.9%
HONE
-7.1%
US Banks
-2.0%
US Market
1 Year Return
-25.4%
HONE
-32.9%
US Banks
-15.1%
US Market
Return vs Industry: HONE exceeded the US Banks industry which returned -33.7% over the past year.
Return vs Market: HONE underperformed the US Market which returned -14.9% over the past year.
Shareholder returns
| HONE | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.9% | -7.1% | -2.0% |
| 30 Day | -28.3% | -30.6% | -19.7% |
| 90 Day | -34.9% | -42.5% | -23.2% |
| 1 Year | -25.4%-25.4% | -30.9%-32.9% | -13.4%-15.1% |
| 3 Year | -31.1%-31.1% | -21.7%-27.5% | 10.9%3.7% |
| 5 Year | n/a | 3.5%-8.4% | 28.4%14.4% |
Price Volatility Vs. Market
How volatile is HarborOne Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Is HarborOne Bancorp, Inc.'s (NASDAQ:HONE) High P/E Ratio A Problem For Investors?1 month ago | Simply Wall St
Should You Worry About HarborOne Bancorp, Inc.'s (NASDAQ:HONE) CEO Pay?2 months ago | Simply Wall St
HarborOne Bancorp (NASDAQ:HONE) Shareholders Booked A 23% Gain In The Last YearValuation
Is HarborOne Bancorp undervalued compared to its fair value and its price relative to the market?
21.81x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: HONE ($7.44) is trading above our estimate of fair value ($2.72)
Significantly Below Fair Value: HONE is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: HONE is poor value based on its PE Ratio (22.7x) compared to the Banks industry average (8.6x).
PE vs Market: HONE is poor value based on its PE Ratio (22.7x) compared to the US market (12.5x).
Price to Earnings Growth Ratio
PEG Ratio: HONE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: HONE is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).
Next Steps
Future Growth
How is HarborOne Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
-8.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HONE's earnings are forecast to decline over the next 3 years (-8% per year).
Earnings vs Market: HONE's earnings are forecast to decline over the next 3 years (-8% per year).
High Growth Earnings: HONE's earnings are forecast to decline over the next 3 years.
Revenue vs Market: HONE's revenue is expected to decline over the next 3 years (-11.4% per year).
High Growth Revenue: HONE's revenue is forecast to decline over the next 3 years (-11.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HONE's Return on Equity is forecast to be low in 3 years time (2.5%).
Next Steps
Past Performance
How has HarborOne Bancorp performed over the past 5 years?
28.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HONE has high quality earnings.
Growing Profit Margin: HONE's current net profit margins (11.1%) are higher than last year (8.5%).
Past Earnings Growth Analysis
Earnings Trend: HONE's earnings have grown significantly by 28.4% per year over the past 5 years.
Accelerating Growth: HONE's earnings growth over the past year (60.3%) exceeds its 5-year average (28.4% per year).
Earnings vs Industry: HONE earnings growth over the past year (60.3%) exceeded the Banks industry 10.9%.
Return on Equity
High ROE: HONE's Return on Equity (2.7%) is considered low.
Next Steps
Financial Health
How is HarborOne Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: HONE has a low level of unsold assets or inventory.
Debt Coverage by Assets: HONE's debt is not covered by short term assets (assets are 0.9x debt).
Financial Institutions Analysis
Asset Level: HONE's level of assets compared to its equity is low.
Allowance for Bad Loans: HONE has a low allowance for bad loans.
Low Risk Liabilities: HONE's liabilities are made up of primarily low risk sources of funding.
Loan Level: HONE has an acceptable proportion of non-loan assets held.
Low Risk Deposits: HONE's loans are broadly funded by customer deposits.
Level of Bad Loans: HONE has an appropriate level of bad loans (0.96%)
Next Steps
Dividend
What is HarborOne Bancorp's current dividend yield, its reliability and sustainability?
0.91%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate HONE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate HONE's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if HONE's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if HONE's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of HONE's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.0yrs
Average management tenure
CEO
Jim Blake (68yo)
4.25s
Tenure
US$2,307,633
Compensation
Mr. James W. Blake, also known as Jim, has been the Chief Executive Officer of HarborOne Bancorp, Inc. and Harborone Northeast Bancorp, Inc. since 2016 and HarborOne Bank (formerly Harborone Credit Union) ...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD2.31M) is about average for companies of similar size in the US market ($USD2.23M).
Compensation vs Earnings: Jim's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, Secretary | 4.25yrs | US$2.31m | 0.54% $2.1m | |
| President | 3.17yrs | US$1.28m | 0.45% $1.8m | |
| Senior VP & CFO | 1.92yrs | US$499.53k | 0.040% $154.9k | |
| Branch Administration Officer | 10yrs | no data | no data | |
| Vice President of Compliance | no data | no data | no data | |
| Senior VP | 0.42yr | no data | no data | |
| Senior VP & Chief Marketing Officer | 6.25yrs | no data | 0.025% $96.9k | |
| Business Solutions and Development Officer | 5.75yrs | no data | no data | |
| Senior VP & Human Resources Officer | no data | no data | 0.071% $275.1k | |
| Senior VP & Retail Officer | 13.25yrs | no data | no data |
5.0yrs
Average Tenure
59yo
Average Age
Experienced Management: HONE's management team is seasoned and experienced (5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, Secretary | 4.25yrs | US$2.31m | 0.54% $2.1m | |
| President | 3.17yrs | US$1.28m | 0.45% $1.8m | |
| Independent Director | 3.08yrs | US$65.18k | 0.040% $157.2k | |
| Independent Director | 39.25yrs | US$70.64k | 0.075% $290.2k | |
| Independent Director | 13.25yrs | US$79.33k | 0.23% $909.2k | |
| Independent Director | 37.25yrs | US$70.99k | 0.10% $402.2k | |
| Independent Director | 33.25yrs | US$76.07k | 0.12% $466.4k | |
| Independent Director | 4.25yrs | US$70.64k | 0.087% $338.1k | |
| Director | 2.25yrs | US$65.33k | 0.087% $338.1k | |
| Chairman of the Board | 1.92yrs | US$75.12k | 0.11% $430.3k |
8.8yrs
Average Tenure
66yo
Average Age
Experienced Board: HONE's board of directors are considered experienced (8.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
HarborOne Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: HarborOne Bancorp, Inc.
- Ticker: HONE
- Exchange: NasdaqGS
- Founded: 1917
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$388.631m
- Shares outstanding: 54.35m
- Website: https://www.harborone.com
Number of Employees
Location
- HarborOne Bancorp, Inc.
- 770 Oak Street
- Brockton
- Massachusetts
- 2301
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 1S4 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jun 2016 |
| HONE | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jun 2016 |
Biography
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 August 14, 2019, the company operated 24 full-service branches located in Massachusetts and Rhode Island; one limited-service bank office; and a commercial lending office in each of Boston, Massachusetts, and Providence, Rhode Island, as well as 30 mortgage offices in Massachusetts, Rhode Island, New Hampshire, Maine, and New Jersey. It also operates administrative offices in Brockton, Massachusetts, and Warwick, Rhode Island, as well as 5 ATM locations. The company was founded in 1917 and is based in Brockton, Massachusetts.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/04 03:47 |
| End of Day Share Price | 2020/04/03 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.