
HarborOne Bancorp (HONE) Stock Forecast & Price Target
HarborOne Bancorp (HONE) Analyst Ratings
Bulls say
HarborOne Bancorp's recent financial performance indicates a positive trend, with fees contributing 26% to total revenues, marking an increase from 24% in the previous quarter. The company's tangible common equity to total assets ratio (TCE/TA) improved to 9.38%, reflecting a 23 basis points increase sequentially, while tangible book value per share (TBVPS) grew by 2% to $12.09. Additionally, despite the core efficiency ratio of approximately 72% remaining higher than peers, it demonstrated significant improvement by 7 percentage points quarter-over-quarter, suggesting enhanced operational efficiency.
Bears say
HarborOne Bancorp has experienced a decrease in both loan and deposit balances, with loans declining approximately 2% and deposits falling around 3% quarter-over-quarter, indicating potential challenges in attracting and retaining customer funds. Specifically, the bank has seen a significant reduction in commercial real estate and construction loans, which decreased by $118.4 million, as management opted for payoffs rather than renewals in this segment. Additionally, while the provisions for loan losses were lower than estimates at $739,000 compared to an anticipated $1.8 million, this highlights potential concerns regarding the quality of the loan portfolio and the overall risk management strategy of the institution.
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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