HarborOne Bancorp, Inc. (HONE) 10-Year Financial Performance & Capital Metrics

HONE • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutHarborOne Bancorp, Inc. operates as the holding company for HarborOne Bank that provides financial services to individuals, families, small and mid-size businesses, and municipalities. The company operates in two segments, HarborOne Bank and HarborOne Mortgage. Its primary deposit products include checking, money market, savings, and term certificate of deposit accounts; and lending products comprise commercial real estate, commercial, residential mortgages, and consumer loans, including indirect automobile lease loans. The company also originates, sells, and services residential mortgage loans. In addition, it provides a range of educational services, such as classes on small business, financial literacy, and personal enrichment. As of December 31, 2021, the company operated through a network of 30 full-service branches located in Massachusetts and Rhode Island, as well as commercial lending offices in each of Boston, Massachusetts, and Providence, Rhode Island. It also had administrative offices in Brockton, Massachusetts, as well as 5 ATM locations in Massachusetts. The company was founded in 1917 and is based in Brockton, Massachusetts.Show more

Net Interest Income $126M -1.3%
Total Revenue $314M +10.7%
Net Income $27M +70.5%
Return on Equity 4.73% +76.6%
Net Interest Margin 2.18% -2.7%
Efficiency Ratio 39.98% -16.4%
ROA 0.48% +64.6%
Equity / Assets 9.99% -3.0%
Book Value per Share 13.87 +3.1%
Tangible BV/Share 11.35 +3.3%
Debt/Equity 0.90 -7.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 40.0% efficiency ratio
✓Healthy dividend yield of 2.6%
✓Share count reduced 4.5% through buybacks
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 4.8%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y15.47%

5Y8.57%

3Y9.79%

TTM-

Profit (Net Income) CAGR

10Y26.7%

5Y8.45%

3Y-22.34%

TTM65.87%

EPS CAGR

10Y30.92%

5Y14.87%

3Y-16.65%

TTM72.34%

ROCE

10Y Avg4.03%

5Y Avg5.78%

3Y Avg4.61%

Latest3.5%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	52.23M	60.99M	74.35M	88.93M	109.06M	120.07M	131.37M	148.99M	127.27M	125.65M
NII Growth %	0.16%	0.17%	0.22%	0.2%	0.23%	0.1%	0.09%	0.13%	-0.15%	-0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	66.8M	74.76M	90.28M	115.71M	154.78M	148.56M	143.9M	171.93M	244.29M	271.41M
Interest Expense	14.57M	13.76M	15.94M	26.78M	45.72M	28.49M	12.53M	22.94M	117.02M	145.76M
Loan Loss Provision	1.26M	4.17M	2.42M	3.83M	4.75M	34.81M	-7.26M	5.66M	5.68M	8.28M
Non-Interest Income+	30.06M	55.7M	46.3M	42.5M	53.19M	127M	93.16M	53.55M	39.08M	42.29M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	96.86M	130.46M	136.59M	158.2M	207.97M	275.55M	237.06M	225.48M	283.37M	313.7M
Revenue Growth %	0.3%	0.35%	0.05%	0.16%	0.31%	0.32%	-0.14%	-0.05%	0.26%	0.11%
Non-Interest Expense	72.7M	103.3M	101.18M	113.39M	134.83M	154.24M	151.34M	135.14M	135.55M	125.41M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	8.33M	9.23M	17.05M	14.21M	22.68M	58.01M	80.45M	61.73M	25.13M	34.26M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.12%	0.11%	0.85%	-0.17%	0.6%	1.56%	0.39%	-0.23%	-0.59%	0.36%
Pretax Income+	8.33M	9.23M	17.05M	14.21M	22.68M	58.01M	80.45M	61.73M	25.13M	34.26M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	2.56M	3.3M	6.67M	2.81M	4.41M	13.22M	21.93M	16.14M	9.05M	6.85M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	5.77M	5.93M	10.38M	11.39M	18.27M	44.79M	58.52M	45.59M	16.08M	27.41M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.24%	0.03%	0.75%	0.1%	0.6%	1.45%	0.31%	-0.22%	-0.65%	0.7%
Net Income (Continuing)	5.77M	5.93M	10.38M	11.39M	18.27M	44.79M	58.52M	45.59M	16.08M	27.41M
EPS (Diluted)+	0.10	0.10	0.18	0.20	0.33	0.82	1.14	0.97	0.37	0.66
EPS Growth %	1.24%	0%	0.8%	0.11%	0.65%	1.48%	0.39%	-0.15%	-0.62%	0.78%
EPS (Basic)	0.10	0.10	0.18	0.20	0.33	0.82	1.15	0.98	0.37	0.66
Diluted Shares Outstanding	57.67M	57.67M	56.07M	56.69M	55.73M	54.32M	51.52M	47.12M	43.42M	41.47M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	40.65M	50.22M	80.79M	105.52M	211.62M	205.87M	194.72M	98.02M	227.35M	231.07M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.99B	2.25B	2.45B	3.26B	3.53B	3.92B	4B	4.84B	5.03B	5.12B
Investments Growth %	0.07%	0.13%	0.09%	0.33%	0.08%	0.11%	0.02%	0.21%	0.04%	0.02%
Long-Term Investments	1.86B	2.12B	2.28B	3.05B	3.29B	3.65B	3.61B	4.54B	4.74B	4.85B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	13.37M	13.37M	13.5M	78.47M	69.8M	69.8M	69.8M	69.8M	59.04M	59.04M
Intangible Assets	13.27M	20.55M	21.09M	22.22M	23.18M	29.2M	41.43M	50.41M	47.63M	45.26M
PP&E (Net)	24.61M	24.19M	24.49M	57.05M	47.95M	49.58M	50.74M	49.05M	48.75M	46.25M
Other Assets	81.03M	81.23M	84M	112.21M	158.09M	192.93M	183.17M	233.06M	234.64M	236.42M
Total Current Assets	174.11M	192.29M	258.19M	324.81M	460.9M	494.24M	599.38M	414.31M	535.67M	513.37M
Total Non-Current Assets	1.99B	2.26B	2.43B	3.33B	3.6B	3.99B	3.95B	4.95B	5.13B	5.24B
Total Assets+	2.16B	2.45B	2.68B	3.65B	4.06B	4.48B	4.55B	5.36B	5.67B	5.75B
Asset Growth %	0.06%	0.13%	0.1%	0.36%	0.11%	0.1%	0.02%	0.18%	0.06%	0.02%
Return on Assets (ROA)	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%	0%	0%
Accounts Payable	546K	545K	518K	1.61M	1.67M	1.26M	1.08M	2.33M	5.25M	6.58M
Total Debt+	249.6M	275.12M	290.37M	553.74M	388.04M	183.13M	89.87M	434.96M	568.46M	516.55M
Net Debt	208.95M	224.9M	209.57M	448.21M	176.42M	-22.74M	-104.85M	336.94M	341.11M	285.48M
Long-Term Debt	249.6M	195.12M	246.37M	263.74M	205.04M	148.13M	89.87M	49.96M	265.46M	304.56M
Short-Term Debt	0	80M	44M	290M	183M	35M	0	385M	303M	212M
Other Liabilities	30.11M	38.51M	36.81M	55.14M	60.55M	96.7M	100.54M	115.78M	123.02M	104.24M
Total Current Liabilities	1.69B	1.89B	2.06B	2.98B	3.13B	3.54B	3.68B	4.58B	4.7B	4.77B
Total Non-Current Liabilities	280.7M	233.63M	283.18M	318.88M	265.58M	244.83M	190.41M	165.75M	388.48M	408.79M
Total Liabilities	1.97B	2.12B	2.34B	3.3B	3.39B	3.79B	3.87B	4.74B	5.08B	5.18B
Total Equity+	190.69M	329.38M	343.48M	357.57M	665.79M	696.31M	679.26M	616.98M	583.76M	575.01M
Equity Growth %	0.04%	0.73%	0.04%	0.04%	0.86%	0.05%	-0.02%	-0.09%	-0.05%	-0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.03%	0.02%	0.03%	0.03%	0.04%	0.07%	0.09%	0.07%	0.03%	0.05%
Book Value per Share	3.31	5.71	6.13	6.31	11.95	12.82	13.18	13.09	13.44	13.87
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	0	321K	327K	327K	584K	584K	585K	596K	598K	598K
Additional Paid-in Capital	0	144.42M	147.06M	152.16M	460.23M	464.18M	469.93M	483.03M	486.5M	489.53M
Retained Earnings	191.28M	197.21M	207.59M	219.09M	237.36M	277.31M	325.7M	356.44M	359.66M	373.86M
Accumulated OCI	-592K	-1.29M	-528K	-2.36M	1.48M	2.19M	-1.64M	-47.08M	-43.62M	-49.9M
Treasury Stock	0	0	-280K	-1.55M	-721K	-16.64M	-85.86M	-148.38M	-193.59M	-215.14M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	29.36M	-4.32M	43.88M	61.16M	-36.13M	-26.95M	224.29M	68.9M	53.51M	3.84M
Operating CF Growth %	0.57%	-1.15%	11.17%	0.39%	-1.59%	0.25%	9.32%	-0.69%	-0.22%	-0.93%
Net Income	5.77M	5.93M	10.38M	11.39M	18.27M	44.79M	58.52M	45.59M	16.08M	27.41M
Depreciation & Amortization	2.85M	2.71M	3.03M	3.95M	6.74M	5.68M	5.62M	4.82M	4.6M	4.49M
Deferred Taxes	1.14M	-1.26M	-698K	-1.14M	-556K	-3.61M	6.43M	3.16M	-1.78M	-5.05M
Other Non-Cash Items	3.63M	4.88M	5.31M	29.3M	-60.42M	-77.45M	137.17M	20.12M	14.33M	-11.44M
Working Capital Changes	15.97M	-17.54M	22.61M	11.93M	-7.66M	-2.14M	9.61M	-11.38M	15.61M	-16.31M
Cash from Investing+	-79.56M	-254.39M	-237.44M	-215.9M	-228.83M	-318.85M	-241.05M	-952.02M	-196.71M	-76.7M
Purchase of Investments	-52.63M	-43.71M	-59.22M	-67.69M	-109.29M	-191.56M	-316.75M	-36.05M	-4.61M	-15.63M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-18.62M	0	0	-73.99M	99K	0	0	0	0	0
Other Investing	-72.76M	-258.29M	-200.41M	-97.37M	-218.51M	-304.93M	-105.87M	-957.13M	-209.2M	-97.27M
Cash from Financing+	37.88M	268.27M	224.14M	179.47M	371.06M	340.06M	5.61M	786.42M	272.54M	76.58M
Dividends Paid	0	0	0	0	0	-3.26M	-9.2M	-12.19M	-12.83M	-13.11M
Share Repurchases	0	0	-280K	-1.27M	-721K	-15.92M	-69.22M	-62.52M	-45.21M	-21.55M
Stock Issued	0	140.53M	0	0	304.06M	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K
Other Financing	191.54M	102.22M	209.17M	194.19M	233.52M	564.27M	177.4M	516.17M	197.78M	163.14M
Net Change in Cash+	-12.33M	9.56M	30.58M	24.73M	106.09M	-5.75M	-11.15M	-96.7M	129.33M	3.72M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	52.98M	40.65M	50.22M	80.79M	105.52M	211.62M	205.87M	194.72M	98.02M	227.35M
Cash at End	40.65M	50.22M	80.79M	105.52M	211.62M	205.87M	194.72M	98.02M	227.35M	231.07M
Interest Paid	14.64M	13.78M	15.95M	25.65M	45.76M	29.16M	12.66M	21.02M	115M	144.25M
Income Taxes Paid	1.09M	3.7M	5.56M	2.83M	3.63M	18.09M	20.89M	11.67M	10.97M	9.84M
Free Cash Flow+	27.87M	-6.45M	40.69M	55.62M	-40.56M	-32.69M	217.84M	66.63M	49.03M	2.6M
FCF Growth %	0.6%	-1.23%	7.31%	0.37%	-1.73%	0.19%	7.66%	-0.69%	-0.26%	-0.95%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	3.08%	2.28%	3.08%	3.25%	3.57%	6.58%	8.51%	7.03%	2.68%	4.73%
Return on Assets (ROA)	0.27%	0.26%	0.4%	0.36%	0.47%	1.05%	1.3%	0.92%	0.29%	0.48%
Net Interest Margin	2.41%	2.49%	2.77%	2.43%	2.69%	2.68%	2.89%	2.78%	2.25%	2.18%
Efficiency Ratio	75.06%	79.18%	74.08%	71.67%	64.83%	55.97%	63.84%	59.94%	47.83%	39.98%
Equity / Assets	8.82%	13.45%	12.79%	9.79%	16.4%	15.53%	14.92%	11.51%	10.3%	9.99%
Book Value / Share	3.31	5.71	6.13	6.31	11.95	12.82	13.18	13.09	13.44	13.87
NII Growth	15.54%	16.79%	21.89%	19.61%	22.64%	10.09%	9.41%	13.41%	-14.58%	-1.27%
Dividend Payout	-	-	-	-	-	7.27%	15.71%	26.73%	79.78%	47.83%

Frequently Asked Questions

Valuation & Price

HarborOne Bancorp, Inc. (HONE) has a price-to-earnings (P/E) ratio of 18.3x. This is roughly in line with market averages.

Growth & Financials

HarborOne Bancorp, Inc. (HONE) grew revenue by 10.7% over the past year. This is steady growth.

Yes, HarborOne Bancorp, Inc. (HONE) is profitable, generating $26.4M in net income for fiscal year 2024 (8.7% net margin).

Dividend & Returns

Yes, HarborOne Bancorp, Inc. (HONE) pays a dividend with a yield of 2.61%. This makes it attractive for income-focused investors.

HarborOne Bancorp, Inc. (HONE) has a return on equity (ROE) of 4.7%. This is below average, suggesting room for improvement.

Industry Metrics

HarborOne Bancorp, Inc. (HONE) has a net interest margin (NIM) of 2.2%. NIM has been under pressure due to interest rate environment.

HarborOne Bancorp, Inc. (HONE) has an efficiency ratio of 40.0%. This is excellent, indicating strong cost control.

US Stock Screener

...