Invesco Ltd. Sells 28,580 Shares of HarborOne Bancorp, Inc. $HONE

Key Points

• Invesco Ltd. has reduced its stake in HarborOne Bancorp by 26.8%, selling 28,580 shares during the first quarter, resulting in ownership of 78,015 shares.
• HarborOne Bancorp reported a $0.23 EPS for the last quarter, surpassing the consensus estimate of $0.19, with revenue reaching $45.44 million.
• The company declared a $0.09 quarterly dividend to be paid on September 15th, representing an annualized yield of 2.8%.

Invesco Ltd. trimmed its holdings in HarborOne Bancorp, Inc. (NASDAQ:HONE - Free Report) by 26.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,015 shares of the financial services provider's stock after selling 28,580 shares during the period. Invesco Ltd. owned 0.18% of HarborOne Bancorp worth $809,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HONE. Tower Research Capital LLC TRC lifted its position in shares of HarborOne Bancorp by 128.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,507 shares of the financial services provider's stock valued at $53,000 after buying an additional 2,538 shares during the last quarter. CWM LLC lifted its position in shares of HarborOne Bancorp by 35.3% in the first quarter. CWM LLC now owns 5,079 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,326 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of HarborOne Bancorp in the fourth quarter valued at approximately $114,000. ProShare Advisors LLC acquired a new stake in shares of HarborOne Bancorp in the fourth quarter valued at approximately $128,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in HarborOne Bancorp during the 1st quarter worth approximately $176,000. 65.01% of the stock is owned by institutional investors and hedge funds.

HarborOne Bancorp Price Performance

HarborOne Bancorp stock traded down $0.18 during mid-day trading on Tuesday, reaching $12.86. 173,963 shares of the company were exchanged, compared to its average volume of 189,629. The company has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $11.36. HarborOne Bancorp, Inc. has a 12 month low of $8.89 and a 12 month high of $13.73. The firm has a market cap of $555.04 million, a PE ratio of 19.78 and a beta of 0.63.

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

HarborOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, September 3rd. HarborOne Bancorp's dividend payout ratio (DPR) is 55.38%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HONE shares. Wall Street Zen raised HarborOne Bancorp to a "hold" rating in a report on Friday, August 22nd. Piper Sandler lifted their price target on HarborOne Bancorp from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, HarborOne Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

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.