Key Highlights:
- HarborOne Bancorp reports Q1 earnings per share of $0.14 with a marginal revenue gain.
- The company has entered a merger agreement with Eastern Bankshares, potentially impacting future valuations.
- Analysts predict significant upside potential based on price targets and recommendations.
HarborOne Bancorp (HONE, Financial) announced its first-quarter results, showcasing a GAAP earnings per share of $0.14 and revenue of $41.36 million. This marks a modest year-over-year revenue growth of 0.1%. Additionally, the company is strategically aligning itself with Eastern Bankshares through a definitive merger agreement.
Wall Street Analysts Forecast
According to projections by two analysts, HarborOne Bancorp Inc (HONE, Financial) is set to experience an average target price of $13.00 within the next year. This forecast includes a high projection of $14.00 and a low of $12.00. From the current share price of $10.06, this suggests a notable upside of 29.22%. For more detailed projections, visit the HarborOne Bancorp Inc (HONE) Forecast page.
In terms of analyst recommendations, the consensus from four brokerage firms rates HarborOne Bancorp Inc (HONE, Financial) at an average of 2.5, designating an “Outperform” status. This rating system ranges from 1, suggesting a Strong Buy, to 5, indicating a Sell recommendation.
GuruFocus Valuation Insights
Utilizing GuruFocus metrics, the estimated GF Value for HarborOne Bancorp Inc (HONE, Financial) in the coming year is $10.52. This represents a calculated upside of 4.57% from its current market price of $10.06. The GF Value, which indicates the fair market value for trading, is derived from the stock's historical trade multiples, past business growth, and future performance estimates. For comprehensive summary data, please visit the HarborOne Bancorp Inc (HONE) Summary page.
