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BROCKTON, Mass. - HarborOne Bancorp, Inc. (NASDAQ:HONE) announced Thursday that its Board of Directors has declared a quarterly cash dividend of $0.09 per share.
The dividend will be paid on July 23, 2025, to shareholders of record as of the close of business on July 9, 2025, according to a press release statement from the company.
HarborOne Bancorp is the holding company for HarborOne Bank, a Massachusetts-chartered trust company that serves consumers, businesses, and municipalities throughout Eastern Massachusetts and Rhode Island. With a market capitalization of $460 million, the bank operates through a network of 30 full-service branches across Massachusetts and Rhode Island, with commercial lending offices in Boston and Providence. According to InvestingPro analysis, the bank currently trades near its Fair Value, with analyst price targets ranging from $12 to $16.
The company previously announced on April 24, 2025, its pending merger with Eastern Bankshares, Inc., which remains subject to regulatory approvals and closing conditions.
HarborOne Bank also provides educational resources through HarborOne U, offering free digital content and webinars for small business and personal financial education. Its subsidiary, HarborOne Mortgage, LLC, provides mortgage lending services throughout New England and other states.
In other recent news, HarborOne Bancorp reported first-quarter earnings that did not meet analyst expectations. The company announced net income of $5.5 million, or $0.14 per diluted share, which was below the consensus estimate of $0.18 per share. Revenue also fell short, coming in at $41.36 million compared to the anticipated $44.22 million. A significant factor in the earnings miss was a $2.9 million decline in mortgage banking income. Despite these challenges, HarborOne increased its quarterly dividend by 12.5% and repurchased 513,855 shares during the quarter.
In another development, Seaport Global Securities upgraded HarborOne’s stock rating from Neutral to Buy, setting a price target of $16.00. This upgrade follows the announcement that East Boston Savings Bank will acquire HarborOne, a move seen as beneficial for both institutions. Analyst Laurie Havenar Husicker revised HarborOne’s fiscal year 2025 and 2026 earnings estimates downward due to the merger. The analyst highlighted East Boston Savings Bank’s strong capital and liquidity as strategic advantages for HarborOne.
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