Goldman Sachs Group Inc. Decreases Stock Holdings in HarborOne Bancorp, Inc. $HONE

Key Points

• Goldman Sachs Group Inc. reduced its stake in HarborOne Bancorp by 17.7%, holding approximately 290,326 shares worth $3,011,000 after selling 62,606 shares in the first quarter.
• HarborOne Bancorp's shares have a one-year trading range of $8.89 to $13.73 and the company reported earnings per share of $0.23, exceeding analysts’ expectations.
• The company announced a quarterly dividend of $0.09, equating to an annualized dividend yield of 2.7%, with a payout ratio of 55.38%.

Goldman Sachs Group Inc. lessened its stake in shares of HarborOne Bancorp, Inc. (NASDAQ:HONE - Free Report) by 17.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 290,326 shares of the financial services provider's stock after selling 62,606 shares during the period. Goldman Sachs Group Inc. owned about 0.67% of HarborOne Bancorp worth $3,011,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Twelve Points Wealth Management LLC purchased a new stake in HarborOne Bancorp during the first quarter worth about $266,000. Nuveen LLC purchased a new stake in HarborOne Bancorp during the first quarter worth about $1,484,000. Two Sigma Investments LP increased its holdings in HarborOne Bancorp by 26.8% during the fourth quarter. Two Sigma Investments LP now owns 126,582 shares of the financial services provider's stock worth $1,497,000 after buying an additional 26,737 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in HarborOne Bancorp during the fourth quarter worth about $284,000. Finally, Deutsche Bank AG increased its holdings in HarborOne Bancorp by 40.4% during the fourth quarter. Deutsche Bank AG now owns 27,314 shares of the financial services provider's stock worth $323,000 after buying an additional 7,853 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

HarborOne Bancorp Trading Up 1.0%

Shares of HONE stock traded up $0.14 during trading hours on Tuesday, hitting $13.63. 32,432 shares of the company's stock were exchanged, compared to its average volume of 268,518. The company has a market capitalization of $588.06 million, a PE ratio of 20.98 and a beta of 0.63. HarborOne Bancorp, Inc. has a 12-month low of $8.89 and a 12-month high of $13.73. The business's 50 day simple moving average is $12.43 and its 200-day simple moving average is $11.48.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $45.44 million for the quarter, compared to the consensus estimate of $32.39 million. HarborOne Bancorp had a net margin of 8.43% and a return on equity of 4.66%. Equities analysts anticipate that HarborOne Bancorp, Inc. will post 0.83 EPS for the current year.

HarborOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.36 annualized dividend and a dividend yield of 2.6%. HarborOne Bancorp's dividend payout ratio (DPR) is 55.38%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HONE shares. Wall Street Zen upgraded shares of HarborOne Bancorp to a "hold" rating in a report on Friday, August 22nd. Piper Sandler increased their target price on shares of HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $13.00.

HarborOne Bancorp 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.