Hingham Institution for Savings (HIFS) Downgraded to “Sell” at BidaskClub

BidaskClub downgraded shares of Hingham Institution for Savings (NASDAQ:HIFS) from a hold rating to a sell rating in a research note released on Wednesday.

Shares of HIFS traded down $2.42 during trading hours on Wednesday, reaching $206.26. 11 shares of the stock traded hands, compared to its average volume of 1,594. Hingham Institution for Savings has a 52 week low of $191.45 and a 52 week high of $242.00. The firm has a market capitalization of $434.68 million, a P/E ratio of 13.82 and a beta of 0.81.

Hingham Institution for Savings (NASDAQ:HIFS) last released its quarterly earnings results on Friday, October 12th. The savings and loans company reported $4.05 earnings per share for the quarter. The firm had revenue of $17.61 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Tuesday, October 9th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.70%. This is a boost from Hingham Institution for Savings’s previous quarterly dividend of $0.35.

A number of institutional investors have recently modified their holdings of HIFS. Dimensional Fund Advisors LP lifted its holdings in Hingham Institution for Savings by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 50,474 shares of the savings and loans company’s stock worth $10,398,000 after acquiring an additional 2,379 shares during the period. UBS Group AG raised its stake in shares of Hingham Institution for Savings by 10.1% during the 1st quarter. UBS Group AG now owns 3,026 shares of the savings and loans company’s stock worth $623,000 after purchasing an additional 278 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Hingham Institution for Savings during the 2nd quarter worth $110,000. Port Capital LLC raised its position in Hingham Institution for Savings by 6.5% in the second quarter. Port Capital LLC now owns 51,274 shares of the savings and loans company’s stock worth $11,265,000 after acquiring an additional 3,115 shares during the period. Finally, Pennsylvania Trust Co raised its position in Hingham Institution for Savings by 9.9% in the second quarter. Pennsylvania Trust Co now owns 25,610 shares of the savings and loans company’s stock worth $5,627,000 after acquiring an additional 2,305 shares during the period. Institutional investors and hedge funds own 32.09% of the company’s stock.

Hingham Institution for Savings Company Profile

Hingham Institution for Savings (the Bank) is a Massachusetts-chartered savings bank (the Bank). The Bank is principally engaged in the business of residential and commercial real estate mortgage lending, funded by a retail deposit network and borrowings. The Bank provides a range of financial services to individuals and small businesses through its approximately 10 offices in Boston and southeastern Massachusetts.

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