HONE
HarborOne Bancorp, Inc.
Banks - Regional
Market Cap$522M
5Y Perf.+51.8%
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Stock Comparison
HONE vs INDB
Revenue, margins, valuation, and 5-year total return — side by side.
INDB
Independent Bank Corp.
Banks - Regional
Market Cap$3.89B
5Y Perf.-3.1%
HONE vs INDB — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | HONE | INDB |
|---|---|---|
| Industry | Banks - Regional | Banks - Regional |
| Market Cap | $522M | $3.89B |
| Revenue (TTM) | $314M | $974M |
| Net Income (TTM) | $26M | $180M |
| Gross Margin | 50.9% | 66.4% |
| Operating Margin | 10.9% | 25.4% |
| Forward P/E | 13.3x | 10.7x |
| Total Debt | $517M | $701M |
| Cash & Equiv. | $231M | $220M |
HONE vs INDB — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
HONE
INDB
| Stock | May 20 | Nov 25 | Return |
|---|---|---|---|
| HarborOne Bancorp, … (HONE) | 100 | 151.8 | +51.8% |
| Independent Bank Co… (INDB) | 100 | 96.9 | -3.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: HONE vs INDB
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: HONE leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Independent Bank Corp. is the stronger pick specifically for valuation and capital efficiency and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
HONE
HarborOne Bancorp, Inc.
The Banking Pick
HONE carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 5 yrs, beta 1.05, yield 2.6%
- Rev growth 10.7%, EPS growth 78.4%
- Lower volatility, beta 1.05, Low D/E 89.8%, current ratio 0.11x
Best for: income & stability and growth exposure
INDB
Independent Bank Corp.
The Banking Pick
INDB is the clearest fit if your priority is long-term compounding and bank quality.
- 109.5% 10Y total return vs HONE's 88.3%
- NIM 2.9% vs HONE's 2.2%
- Lower P/E (10.7x vs 13.3x)
Best for: long-term compounding and bank quality
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | HONE | 10.7% NII/revenue growth vs INDB's 6.9% |
| Value | INDB | Lower P/E (10.7x vs 13.3x) |
| Quality / Margins | HONE | Efficiency ratio 0.4% vs INDB's 0.4% (lower = leaner) |
| Stability / Safety | HONE | Beta 1.05 vs INDB's 1.11 |
| Dividends | INDB | 2.9% yield, 3-year raise streak, vs HONE's 2.6% |
| Momentum (1Y) | INDB | +32.7% vs HONE's +7.9% |
| Efficiency (ROA) | HONE | Efficiency ratio 0.4% vs INDB's 0.4% |
HONE vs INDB — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2024
HONE vs INDB — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLINDBLAGGINGHONE
HONEHarborOne Bancorp, In…
0leads
INDBIndependent Bank Corp.
4leads
6 Total Categories
CATEGORYLEADERvs HONEMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
INDB4/5
Valuation MetricsMultiples, price ratios, and targets
INDB4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
INDB6/8
Total Returns1Y, 3Y, 5Y total returns with dividends
INDB5/5
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
INDB leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
INDB is the larger business by revenue, generating $974M annually — 3.1x HONE's $314M. INDB is the more profitable business, keeping 19.7% of every revenue dollar as net income compared to HONE's 8.7%.
| Metric | HONEHarborOne Bancorp… | INDBIndependent Bank … |
|---|---|---|
| RevenueTrailing 12 months | $314M | $974M |
| EBITDAEarnings before interest/tax | $37M | $272M |
| Net IncomeAfter-tax profit | $26M | $180M |
| Free Cash FlowCash after capex | $46M | $209M |
| Gross MarginGross profit ÷ Revenue | +50.9% | +66.4% |
| Operating MarginEBIT ÷ Revenue | +10.9% | +25.4% |
| Net MarginNet income ÷ Revenue | +8.7% | +19.7% |
| FCF MarginFCF ÷ Revenue | +0.8% | +21.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +11.1% | -31.7% |
INDB leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
INDB leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 17.3x trailing earnings, INDB trades at a 6% valuation discount to HONE's 18.3x P/E. On an enterprise value basis, INDB's 15.2x EV/EBITDA is more attractive than HONE's 20.8x.
| Metric | HONEHarborOne Bancorp… | INDBIndependent Bank … |
|---|---|---|
| Market CapShares × price | $522M | $3.9B |
| Enterprise ValueMkt cap + debt − cash | $808M | $4.4B |
| Trailing P/EPrice ÷ TTM EPS | 18.33x | 17.31x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.30x | 10.74x |
| PEG RatioP/E ÷ EPS growth rate | 1.23x | — |
| EV / EBITDAEnterprise value multiple | 20.84x | 15.19x |
| Price / SalesMarket cap ÷ Revenue | 1.66x | 4.00x |
| Price / BookPrice ÷ Book value/share | 0.87x | 1.11x |
| Price / FCFMarket cap ÷ FCF | 200.70x | 18.59x |
INDB leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
INDB leads this category, winning 6 of 8 comparable metrics.
Profitability & Efficiency
INDB delivers a 5.1% return on equity — every $100 of shareholder capital generates $5 in annual profit, vs $5 for HONE. INDB carries lower financial leverage with a 0.23x debt-to-equity ratio, signaling a more conservative balance sheet compared to HONE's 0.90x.
| Metric | HONEHarborOne Bancorp… | INDBIndependent Bank … |
|---|---|---|
| ROE (TTM)Return on equity | +4.6% | +5.1% |
| ROA (TTM)Return on assets | +0.5% | +0.7% |
| ROICReturn on invested capital | +2.3% | +4.7% |
| ROCEReturn on capital employed | +3.5% | +5.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 0.90x | 0.23x |
| Net DebtTotal debt minus cash | $285M | $481M |
| Cash & Equiv.Liquid assets | $231M | $220M |
| Total DebtShort + long-term debt | $517M | $701M |
| Interest CoverageEBIT ÷ Interest expense | 0.24x | 0.77x |
INDB leads this category, winning 6 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
INDB leads this category, winning 5 of 5 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in INDB five years ago would be worth $11,155 today (with dividends reinvested), compared to $9,418 for HONE. Over the past 12 months, INDB leads with a +32.7% total return vs HONE's +7.9%. The 3-year compound annual growth rate (CAGR) favors INDB at 21.1% vs HONE's 16.7% — a key indicator of consistent wealth creation.
| Metric | HONEHarborOne Bancorp… | INDBIndependent Bank … |
|---|---|---|
| YTD ReturnYear-to-date | — | +7.8% |
| 1-Year ReturnPast 12 months | +7.9% | +32.7% |
| 3-Year ReturnCumulative with dividends | +58.9% | +77.6% |
| 5-Year ReturnCumulative with dividends | -5.8% | +11.6% |
| 10-Year ReturnCumulative with dividends | +88.3% | +109.5% |
| CAGR (3Y)Annualised 3-year return | +16.7% | +21.1% |
INDB leads this category, winning 5 of 5 comparable metrics.
Risk & Volatility
Evenly matched — HONE and INDB each lead in 1 of 2 comparable metrics.
Risk & Volatility
HONE is the less volatile stock with a 1.05 beta — it tends to amplify market swings less than INDB's 1.11 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. INDB currently trades 89.9% from its 52-week high vs HONE's 84.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HONEHarborOne Bancorp… | INDBIndependent Bank … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.05x | 1.11x |
| 52-Week HighHighest price in past year | $14.29 | $87.00 |
| 52-Week LowLowest price in past year | $10.57 | $57.01 |
| % of 52W HighCurrent price vs 52-week peak | +84.7% | +89.9% |
| RSI (14)Momentum oscillator 0–100 | 32.5 | 53.5 |
| Avg Volume (50D)Average daily shares traded | 0 | 324K |
Evenly matched — HONE and INDB each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — HONE and INDB each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates HONE as "Hold" and INDB as "Hold". Consensus price targets imply 15.7% upside for HONE (target: $14) vs 12.9% for INDB (target: $88). For income investors, INDB offers the higher dividend yield at 2.89% vs HONE's 2.61%.
| Metric | HONEHarborOne Bancorp… | INDBIndependent Bank … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $14.00 | $88.33 |
| # AnalystsCovering analysts | 6 | 15 |
| Dividend YieldAnnual dividend ÷ price | +2.6% | +2.9% |
| Dividend StreakConsecutive years of raises | 5 | 3 |
| Dividend / ShareAnnual DPS | $0.32 | $2.26 |
| Buyback YieldShare repurchases ÷ mkt cap | +4.1% | +0.8% |
Evenly matched — HONE and INDB each lead in 1 of 2 comparable metrics.
Key Takeaway
INDB leads in 4 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 2 categories are tied.
Best OverallIndependent Bank Corp. (INDB)Leads 4 of 6 categories
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HONE vs INDB: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is HONE or INDB a better buy right now?
For growth investors, HarborOne Bancorp, Inc.
(HONE) is the stronger pick with 10. 7% revenue growth year-over-year, versus 6. 9% for Independent Bank Corp. (INDB). Independent Bank Corp. (INDB) offers the better valuation at 17. 3x trailing P/E (10. 7x forward), making it the more compelling value choice. Analysts rate HarborOne Bancorp, Inc. (HONE) a "Hold" — based on 6 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HONE or INDB?
On trailing P/E, Independent Bank Corp.
(INDB) is the cheapest at 17. 3x versus HarborOne Bancorp, Inc. at 18. 3x. On forward P/E, Independent Bank Corp. is actually cheaper at 10. 7x.
03Which is the better long-term investment — HONE or INDB?
Over the past 5 years, Independent Bank Corp.
(INDB) delivered a total return of +11. 6%, compared to -5. 8% for HarborOne Bancorp, Inc. (HONE). Over 10 years, the gap is even starker: INDB returned +109. 5% versus HONE's +88. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HONE or INDB?
By beta (market sensitivity over 5 years), HarborOne Bancorp, Inc.
(HONE) is the lower-risk stock at 1. 05β versus Independent Bank Corp. 's 1. 11β — meaning INDB is approximately 6% more volatile than HONE relative to the S&P 500. On balance sheet safety, Independent Bank Corp. (INDB) carries a lower debt/equity ratio of 23% versus 90% for HarborOne Bancorp, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — HONE or INDB?
By revenue growth (latest reported year), HarborOne Bancorp, Inc.
(HONE) is pulling ahead at 10. 7% versus 6. 9% for Independent Bank Corp. (INDB). On earnings-per-share growth, the picture is similar: HarborOne Bancorp, Inc. grew EPS 78. 4% year-over-year, compared to -16. 6% for Independent Bank Corp.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — HONE or INDB?
Independent Bank Corp.
(INDB) is the more profitable company, earning 19. 7% net margin versus 8. 7% for HarborOne Bancorp, Inc. — meaning it keeps 19. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: INDB leads at 25. 4% versus 10. 9% for HONE. At the gross margin level — before operating expenses — INDB leads at 66. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is HONE or INDB more undervalued right now?
On forward earnings alone, Independent Bank Corp.
(INDB) trades at 10. 7x forward P/E versus 13. 3x for HarborOne Bancorp, Inc. — 2. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for HONE: 15. 7% to $14. 00.
08Which pays a better dividend — HONE or INDB?
All stocks in this comparison pay dividends.
Independent Bank Corp. (INDB) offers the highest yield at 2. 9%, versus 2. 6% for HarborOne Bancorp, Inc. (HONE).
09Is HONE or INDB better for a retirement portfolio?
For long-horizon retirement investors, HarborOne Bancorp, Inc.
(HONE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 05), 2. 6% yield). Both have compounded well over 10 years (HONE: +88. 3%, INDB: +109. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between HONE and INDB?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: HONE is a small-cap quality compounder stock; INDB is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(HONE: 10.7% · INDB: 6.9%)Net Margin>
%
(HONE: 8.7% · INDB: 19.7%)P/E Ratio<
x
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