Hingham Institution for Savings (HIFS) Cut 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 issued to investors on Wednesday morning.

Shares of Hingham Institution for Savings stock opened at $201.07 on Wednesday. The company has a market cap of $439.48 million, a price-to-earnings ratio of 13.98 and a beta of 0.81. Hingham Institution for Savings has a 12-month low of $191.45 and a 12-month high of $242.00.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Tuesday, October 9th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, October 5th. This is a positive change from Hingham Institution for Savings’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%.

Several hedge funds have recently modified their holdings of the company. Epoch Investment Partners Inc. lifted its holdings in shares of Hingham Institution for Savings by 2.8% during the second quarter. Epoch Investment Partners Inc. now owns 94,805 shares of the savings and loans company’s stock worth $20,828,000 after buying an additional 2,544 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Hingham Institution for Savings by 1.1% during the third quarter. BlackRock Inc. now owns 76,674 shares of the savings and loans company’s stock worth $16,853,000 after buying an additional 813 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hingham Institution for Savings by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 52,322 shares of the savings and loans company’s stock worth $11,495,000 after buying an additional 1,848 shares during the last quarter. Port Capital LLC lifted its holdings in shares of Hingham Institution for Savings by 6.5% during the second quarter. Port Capital LLC now owns 51,274 shares of the savings and loans company’s stock worth $11,265,000 after buying an additional 3,115 shares during the last quarter. Finally, Pennsylvania Trust Co lifted its holdings in shares of Hingham Institution for Savings by 2.1% during the third quarter. Pennsylvania Trust Co now owns 26,140 shares of the savings and loans company’s stock worth $5,746,000 after buying an additional 530 shares during the last quarter. Institutional investors own 32.09% of the company’s stock.

About Hingham Institution for Savings

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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