NASDAQ$HONE

HarborOne Bancorp Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Net income of $12.3 million, or $0.25 per diluted share, was announced for the first quarter of 2022.

HarborOne Bancorp reported a net income of $12.3 million, or $0.25 per diluted share, for Q1 2022. The company saw commercial loan growth and core deposit growth, while also managing strong credit quality.

  • Return on average assets was 1.08% and return on average equity was 7.35%.
  • Commercial loan growth of $123.3 million, or 5.5%.
  • Core deposit growth of $109.5 million, or 3.6%.
  • Net interest margin increased 2 basis points to 3.21%.

Headline financials

Total Revenue

$52.3M

Previous: $69.9M-25.1%
EPS (adj)

$0.25

Previous: $0.37-32.4%
Net Interest Margin

3.2%

No prior period
Nonperforming Assets to Total Assets

0.6%

Previous: 0.7%-19.7%
Efficiency Ratio

66.1%

Previous: 60.8%+8.8%
Return on Average Assets

1.1%

Previous: 1.7%-37.6%
Return on Average Equity

7.3%

Previous: 11.1%-34.0%
Capital Expenditures

-$158K

Previous: -$2.38M+93.3%
Free Cash Flow

$14.5M

Previous: $8.74M+65.9%
Net Income

$12.3M

Previous: $19.4M-36.7%
Operating Income

$39.6M

Previous: $55.2M-28.3%
Gross Profit

$52M

Previous: $69.9M-25.6%
Cash & Equivalents

$140M

Previous: $319M-56.1%
Total Assets

$4.59B

Previous: $4.61B-0.3%
Stock-Based Comp

$971K

Previous: $772K+25.8%

Revenue & EPS history

HarborOne · Revenue · Quarterly

$52.3M

Q1 2022-25.1%vs Q1 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

HarborOne · $5.99M total across 4 segments · Q4 2021

  • Deposit Account Fees
    $4.78M
  • Other Income
    $589K
  • Bank-Owned Life Insurance Income
    $506K
  • Income on Retirement Plan Annuities
    $109K

Forward guidance

Company remains focused on core fundamentals of deposit and loan growth and will continue to be responsive to the challenges in the residential mortgage market including operational costs, and making the necessary staff and expense adjustments

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 6 quarterly earnings reports

Historical avg

+0.0%

Avg return

Earnings day

-3.0%

Avg return

5 days after

-1.7%

Avg return

30 days after

56%

20 / 36 earnings

Positive

+10.4%

Q1 2020

Best reaction

-13.3%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025
Q2 2025-2.1%-2.0%+3.2%
Q1 2025+1.9%+0.9%+0.8%
Q4 2024-3.5%-3.1%-3.8%
Q3 2024-13.3%-8.6%-1.1%
Q2 2024+3.0%+1.6%-0.7%
Q1 2024+2.1%+0.9%+5.2%
Q4 2023-9.7%-10.8%-15.8%
Q3 2023+4.6%
Q2 2023+2.6%
Q1 2023-0.5%
Q4 2022-3.5%
Q3 2022+7.1%
Q2 2022+1.0%
Q1 2022+0.5%
Q4 2021-2.5%
Q3 2021-2.4%
Q2 2021-3.2%
Q1 2021-2.3%
Q4 2020+4.0%
Q3 2020-2.4%
Q2 2020+8.0%
Q1 2020+10.4%
Q4 2019-0.4%
Q3 2019+2.3%
Q2 2019+1.2%
Q1 2019+0.0%
Q4 2018-4.3%
Q3 2018+3.3%
Q2 2018+0.9%
Q1 2018+3.2%
Q4 2017-3.7%
Q3 2017+0.3%
Q2 2017+0.3%
Q1 2017+3.1%
Q4 2016-6.3%
Q3 2016+1.6%
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015

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