
HarborOne Bancorp (HONE) Stock Forecast & Price Target
HarborOne Bancorp (HONE) Analyst Ratings
Bulls say
HarborOne Bancorp's diversification of revenue streams is evidenced by an increase in fee income, which constituted approximately 26% of total revenues, up from around 24% in the previous quarter. The bank's strong capital position is highlighted by a tangible common equity to total assets (TCE/TA) ratio of 9.38%, reflecting a sequential increase of 23 basis points. Additionally, tangible book value per share (TBVPS) rose by 2% to $12.09, while the core efficiency ratio improved by 7 percentage points quarter-over-quarter, indicating ongoing operational enhancements despite remaining higher than peer averages.
Bears say
HarborOne Bancorp has experienced a decline in both loan and deposit balances, with loans decreasing approximately 2% and deposits down around 3% quarter-over-quarter. A significant reduction in commercial real estate and construction loans by $118.4 million indicates a shift in the company's lending strategy, prioritizing payoffs over renewals, which could negatively impact future revenue growth. Furthermore, the company recorded a lower-than-expected loan loss provision of $739,000, suggesting potential concerns regarding asset quality and the adequacy of reserves in a challenging economic environment.
This aggregate rating is based on analysts' research of HarborOne Bancorp and is not a guaranteed prediction by Public.com or investment advice.
HarborOne Bancorp (HONE) Analyst Forecast & Price Prediction
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