NASDAQ$HONE

HarborOne Bancorp Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Net income of $7.5 million, or $0.17 per diluted share, was announced for the second quarter of 2023.

HarborOne Bancorp reported a net income of $7.5 million, or $0.17 per diluted share, for Q2 2023. This compares to a net income of $7.3 million, or $0.16 per diluted share, for the prior quarter and $10.0 million, or $0.21 per diluted share, for the same period last year.

  • Loan growth of $75.6 million, or 1.6%, and deposit growth of $45.8 million, or 1.1%, on a linked-quarter basis.
  • Completed share repurchase program.
  • Received regulatory non-objection for sixth share repurchase program.
  • Branch closures and relocation completed, providing long-term expense savings.

Headline financials

Total Revenue

$44.8M

Previous: $51.3M-12.7%
EPS (adj)

$0.17

Previous: $0.21-19.0%
Net Interest Margin

2.5%

Previous: 3.5%-29.6%
Efficiency Ratio

70.5%

No prior period
Capital Expenditures

-$2.62M

Previous: -$596K-339.4%
Free Cash Flow

$38.9M

Previous: $20.5M+90.3%
Net Income

$7.48M

Previous: $9.99M-25.1%
Operating Income

$11.9M

Previous: $36.4M-67.2%
Gross Profit

$41.5M

Previous: $48.8M-14.9%
Cash & Equivalents

$253M

Previous: $84.3M+199.8%
Total Assets

$5.66B

Previous: $4.7B+20.3%
Stock-Based Comp

$622K

Previous: $1.03M-39.6%

Revenue & EPS history

HarborOne · Revenue · Quarterly

$44.8M

Q2 2023-12.7%vs Q2 2022
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

This document does not contain forward guidance.

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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