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BROCKTON, Mass. - HarborOne Bancorp, Inc. (NASDAQ: HONE), the parent company of HarborOne Bank, announced on Thursday that its Board of Directors has approved an increase in its quarterly cash dividend. The dividend has been raised from $0.08 to $0.09 per share, marking a 12.5% hike. Shareholders on record by April 9, 2025, will receive the dividend on April 23, 2025. The regional bank, currently valued at $462 million, offers a dividend yield of 3.01%, with InvestingPro analysis indicating a high shareholder yield compared to peers.
Joseph F. Casey, President and CEO of HarborOne, expressed satisfaction with the company’s ability to enhance shareholder returns, attributing the decision to the firm’s solid earnings and successful execution of its business strategy. The revised dividend rate translates to an annualized payout of $0.36 per common share. Trading at a P/E ratio of 16 and price-to-book of 0.8, the stock appears undervalued based on InvestingPro Fair Value metrics.
HarborOne Bancorp’s forward-looking statements highlighted the usual caveats, noting that actual results could vary significantly due to a multitude of factors. These include, but are not limited to, changes in economic conditions, customer behavior, market competition, regulatory changes, and unforeseen events such as natural disasters and cybersecurity incidents.
The company, headquartered in Massachusetts, operates HarborOne Bank, which caters to the financial needs of individuals, businesses, and municipalities in Eastern Massachusetts and Rhode Island. With a network of 30 full-service branches and commercial lending offices in Boston and Providence, HarborOne also offers educational resources through its HarborOne U initiative.
The information in this article is based on a press release statement from HarborOne Bancorp, Inc.
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