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HarborOne Bancorp (HONE) Announces New Share Buyback Plan
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HarborOne Bancorp, Inc. (HONE - Free Report) has announced a new share repurchase program. Under the plan, for which it has received “regulatory approval”, the company is authorized to buy back up to 2.45 million shares or 5% of HONE’s of common shares outstanding.
HONE’s repurchase program is set to expire on Sep 21, 2023. Notably, the company’s board of directors can modify or terminate the plan at any time.
HarborOne Bancorp will begin buying back shares under this plan subsequent to the completion of its prior share repurchase program. The older plan, announced this April, authorized to buy back up to nearly 2.53 million shares over a 12-month period. As of Jun 30, 2022, HONE had repurchased 1.34 million shares for $18.5 million.
Alongside share repurchases, HarborOne Bancorp pays a regular quarterly dividend of 7 cents per share. The last dividend hike was announced this March when it was increased by 40%. It must be noted that the company started paying out dividends effective July 2020.
Based on the last day’s closing price of $19.89, HONE’s dividend currently yields 1.99%, and its payout ratio is 29% of earnings.
Supported by its earnings strength and solid balance sheet, the company is expected to continue with efficient capital deployment activities. Through this, HarborOne Bancorp will keep enhancing shareholder value.
Over the past three months, shares of HONE have gained 1.7% against a 0.1% decline of the industry it belongs to.
Bridgewater Bancshares, Inc.’s (BWB - Free Report) board of directors has announced a new stock repurchase program. Under this plan, the company is authorized to repurchase up to $25 million worth of its common stock. The program will expire on Aug 16, 2024.
The new share repurchase program is part of BWB’s strategic decision to enhance shareholders’ value. It executes a stock repurchase program based on various factors like valuation, capital levels and other uses of capital.
Eastern Bankshares, Inc. (EBC - Free Report) announced a new share repurchase program. Under the plan, for which it has received “regulatory non-objection”, the company is authorized to buy back up to 8.9 million shares or 5% of EBC’s common shares outstanding.
Further, EBC noted that the repurchase program, which will expire on Aug 31, 2023, is limited to $200 million worth of shares. Notably, the company’s board of directors can modify or terminate the plan at any time.
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HarborOne Bancorp (HONE) Announces New Share Buyback Plan
HarborOne Bancorp, Inc. (HONE - Free Report) has announced a new share repurchase program. Under the plan, for which it has received “regulatory approval”, the company is authorized to buy back up to 2.45 million shares or 5% of HONE’s of common shares outstanding.
HONE’s repurchase program is set to expire on Sep 21, 2023. Notably, the company’s board of directors can modify or terminate the plan at any time.
HarborOne Bancorp will begin buying back shares under this plan subsequent to the completion of its prior share repurchase program. The older plan, announced this April, authorized to buy back up to nearly 2.53 million shares over a 12-month period. As of Jun 30, 2022, HONE had repurchased 1.34 million shares for $18.5 million.
Alongside share repurchases, HarborOne Bancorp pays a regular quarterly dividend of 7 cents per share. The last dividend hike was announced this March when it was increased by 40%. It must be noted that the company started paying out dividends effective July 2020.
Based on the last day’s closing price of $19.89, HONE’s dividend currently yields 1.99%, and its payout ratio is 29% of earnings.
Supported by its earnings strength and solid balance sheet, the company is expected to continue with efficient capital deployment activities. Through this, HarborOne Bancorp will keep enhancing shareholder value.
Over the past three months, shares of HONE have gained 1.7% against a 0.1% decline of the industry it belongs to.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Share Buyback Plans of Other Banks
Bridgewater Bancshares, Inc.’s (BWB - Free Report) board of directors has announced a new stock repurchase program. Under this plan, the company is authorized to repurchase up to $25 million worth of its common stock. The program will expire on Aug 16, 2024.
The new share repurchase program is part of BWB’s strategic decision to enhance shareholders’ value. It executes a stock repurchase program based on various factors like valuation, capital levels and other uses of capital.
Eastern Bankshares, Inc. (EBC - Free Report) announced a new share repurchase program. Under the plan, for which it has received “regulatory non-objection”, the company is authorized to buy back up to 8.9 million shares or 5% of EBC’s common shares outstanding.
Further, EBC noted that the repurchase program, which will expire on Aug 31, 2023, is limited to $200 million worth of shares. Notably, the company’s board of directors can modify or terminate the plan at any time.