HarborOne Bancorp, Inc. $HONE Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in HarborOne Bancorp by 9.6%, owning approximately 5.1 million shares valued at $53.4 million after selling 545,836 shares.
• The company recently announced a quarterly dividend of $0.09 per share, representing a 2.8% dividend yield with an ex-dividend date set for September 3rd.
• HarborOne Bancorp's current consensus rating is "Moderate Buy," with a price target increase to $13.00 by Piper Sandler, signaling positive analyst sentiment.

T. Rowe Price Investment Management Inc. lowered its position in HarborOne Bancorp, Inc. (NASDAQ:HONE - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,147,295 shares of the financial services provider's stock after selling 545,836 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 11.95% of HarborOne Bancorp worth $53,378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HONE. Dimensional Fund Advisors LP lifted its holdings in shares of HarborOne Bancorp by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,592,784 shares of the financial services provider's stock worth $30,673,000 after acquiring an additional 47,592 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of HarborOne Bancorp by 5.7% in the 4th quarter. Northern Trust Corp now owns 364,935 shares of the financial services provider's stock worth $4,317,000 after purchasing an additional 19,600 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of HarborOne Bancorp by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 288,142 shares of the financial services provider's stock valued at $2,988,000 after buying an additional 2,070 shares in the last quarter. Millennium Management LLC raised its position in HarborOne Bancorp by 174.8% in the 4th quarter. Millennium Management LLC now owns 271,878 shares of the financial services provider's stock worth $3,216,000 after purchasing an additional 172,941 shares during the period. Finally, Rhino Investment Partners Inc bought a new stake in shares of HarborOne Bancorp in the 4th quarter worth approximately $3,185,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

HarborOne Bancorp Price Performance

HONE stock traded down $0.07 during mid-day trading on Thursday, reaching $12.80. The company had a trading volume of 81,616 shares, compared to its average volume of 271,583. The company has a market capitalization of $552.61 million, a PE ratio of 19.71 and a beta of 0.60. The firm has a 50 day moving average of $12.00 and a 200 day moving average of $11.31. HarborOne Bancorp, Inc. has a 12 month low of $8.89 and a 12 month high of $13.73.

HarborOne Bancorp (NASDAQ:HONE - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.23 earnings per share for the quarter, beating 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 business had revenue of $45.44 million during the quarter, compared to analyst estimates of $32.39 million. 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 will be paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. HarborOne Bancorp's dividend payout ratio is presently 55.38%.

Analysts Set New Price Targets

Several equities research analysts recently commented on HONE shares. Wall Street Zen upgraded HarborOne Bancorp to a "hold" rating in a report on Friday, August 22nd. Piper Sandler boosted their price objective on HarborOne Bancorp from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average 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.