Rhumbline Advisers Cuts Stake in HarborOne Bancorp, Inc. (NASDAQ:HONE)

Rhumbline Advisers lowered its stake in shares of HarborOne Bancorp, Inc. (NASDAQ:HONE) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,953 shares of the financial services provider’s stock after selling 1,588 shares during the period. Rhumbline Advisers owned about 0.15% of HarborOne Bancorp worth $745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in HarborOne Bancorp by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,781 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,498 shares during the last quarter. nVerses Capital LLC acquired a new position in HarborOne Bancorp in the 2nd quarter valued at about $27,000. Russell Investments Group Ltd. boosted its holdings in HarborOne Bancorp by 13.7% in the 1st quarter. Russell Investments Group Ltd. now owns 39,703 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 4,790 shares during the last quarter. Vanguard Group Inc. boosted its holdings in HarborOne Bancorp by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,342,754 shares of the financial services provider’s stock valued at $24,974,000 after purchasing an additional 6,511 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in HarborOne Bancorp by 8.2% in the 1st quarter. Empowered Funds LLC now owns 103,974 shares of the financial services provider’s stock valued at $1,108,000 after purchasing an additional 7,842 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Insider Buying and Selling

In related news, CMO David E. Tryder sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $12.48, for a total transaction of $162,240.00. Following the sale, the chief marketing officer now directly owns 15,159 shares of the company’s stock, valued at approximately $189,184.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.90% of the stock is owned by insiders.

HarborOne Bancorp Price Performance

HarborOne Bancorp stock opened at $12.85 on Tuesday. The company’s 50 day simple moving average is $12.74 and its 200-day simple moving average is $11.19. The company has a market capitalization of $574.09 million, a price-to-earnings ratio of 34.73 and a beta of 0.73. HarborOne Bancorp, Inc. has a 1 year low of $9.14 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.13 and a current ratio of 1.14.

HarborOne Bancorp (NASDAQ:HONE) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. HarborOne Bancorp had a net margin of 5.20% and a return on equity of 4.59%. The business had revenue of $79.87 million for the quarter, compared to the consensus estimate of $42.43 million. As a group, equities research analysts expect that HarborOne Bancorp, Inc. will post 0.7 earnings per share for the current year.

HarborOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.49%. The ex-dividend date was Wednesday, July 10th. HarborOne Bancorp’s payout ratio is currently 86.49%.

Analysts Set New Price Targets

Several research firms have weighed in on HONE. StockNews.com lowered shares of HarborOne Bancorp from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Piper Sandler boosted their target price on shares of HarborOne Bancorp from $11.50 to $14.00 and gave the company a “neutral” rating in a report on Friday, July 26th.

HarborOne Bancorp Company Profile

HarborOne 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 primary lending products comprise commercial real estate, commercial, residential mortgages, home equity, and consumer loans.