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HarborOne Bancorp Inc . (NASDAQ:HONE) stock has reached a new 52-week low, touching down at $9.13. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, with a significant -22.28% decline over the past six months. This latest price point reflects a notable dip in the company's market valuation, which currently stands at $414.1 million. Despite the broader market's fluctuations, HarborOne trades at a P/E ratio of 14.89 and appears slightly undervalued according to InvestingPro's Fair Value analysis. This 52-week low serves as a critical marker for the company, as it navigates through the financial landscape, seeking to regain its footing and deliver value to its shareholders. InvestingPro subscribers can access 8 additional key insights and detailed financial metrics to better understand HONE's potential recovery trajectory.
In other recent news, HarborOne Bancorp announced a 12.5% increase in its quarterly cash dividend, raising it from $0.08 to $0.09 per share. This decision, approved by the company's Board of Directors, reflects HarborOne's solid earnings and successful business strategy execution. The revised dividend translates to an annual payout of $0.36 per common share. Shareholders on record by April 9, 2025, will receive the dividend on April 23, 2025. President and CEO Joseph F. Casey expressed satisfaction with the company's ability to enhance shareholder returns. The company's forward-looking statements emphasized potential risks, including economic changes and regulatory shifts. HarborOne Bancorp continues to operate a network of 30 full-service branches and commercial lending offices in Eastern Massachusetts and Rhode Island.
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