NASDAQ$HONE

HarborOne Bancorp Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

HarborOne's Q4 2019 earnings were announced.

HarborOne Bancorp, Inc. reported a net income of $4.3 million, or $0.08 per basic and diluted share, for the fourth quarter of 2019. The company saw growth in commercial loans and deposits, along with strong residential real estate mortgage origination activity.

  • Net income was $4.3 million, or $0.08 per basic and diluted share.
  • Total commercial loans amounted to $1.6 billion, up 6% from the preceding quarter and 19% year over year.
  • Total deposits amounted to $2.9 billion, up $18.4 million from the preceding quarter and 10% year over year.
  • Residential real estate mortgage origination activity increased 4% from the preceding quarter and 54% year over year.

Headline financials

Total Revenue

$28.3M

Previous: $26.8M+5.8%
EPS (adj)

$0.08

Previous: $0.05+60.0%
Net Interest Margin

3.1%

Previous: 3.3%-5.5%
Tax Equivalent Interest Rate Spread

2.7%

Previous: 3.0%-10.0%
Nonperforming Assets to Total Assets

0.8%

Previous: 0.5%+49.0%
Allowance for Credit Losses on Loans to Total Loans

0.8%

Previous: 0.7%+10.1%
Efficiency Ratio

82.4%

No prior period
Capital Expenditures

$1.19M

No prior period
Free Cash Flow

$10.4M

No prior period
Net Income

$4.31M

No prior period
Operating Income

$6.49M

No prior period
Cash & Equivalents

$212M

No prior period
Total Assets

$4.06B

No prior period
Stock-Based Comp

$4.85M

No prior period

Revenue & EPS history

HarborOne · Revenue · Quarterly

$28.3M

Q4 2019+5.8%vs Q4 2018
Beat estimate in 4 of 16 quarters(25%)
ActualEstimate

Revenue by segment

HarborOne · $18.6M total across 5 segments · Q4 2019

  • Mortgage Banking Income
    $13M+116.6%
  • Deposit Account Fees
    $4.27M+6.7%
  • Other Income
    $912K+68.9%
  • Bank-Owned Life Insurance Income
    $343K-65.8%
  • Income on Retirement Plan Annuities
    $102K+1.0%

Forward guidance

The effective tax rate for 2020 is expected to be approximately 28%.

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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