Bessemer Group Inc. Takes Position in Hingham Institution for Savings $HIFS

Key Points

• Bessemer Group Inc. opened a new position in Hingham Institution for Savings during Q1, buying 14,000 shares valued at about $4.0 million, which gave it roughly 0.64% ownership of the company.
• Institutional interest in HIFS appears broad, with several other hedge funds and asset managers also adding stakes; overall, about 49.33% of the stock is held by institutional investors and hedge funds.
• The company reported $4.82 EPS for the latest quarter and declared a $0.63 quarterly dividend payable August 12, implying a 0.9% yield. Shares were trading down about 1.2% at $291.63, and analysts currently have a consensus Buy rating.

Bessemer Group Inc. bought a new stake in Hingham Institution for Savings (NASDAQ:HIFS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 14,000 shares of the savings and loans company's stock, valued at approximately $4,002,000. Bessemer Group Inc. owned about 0.64% of Hingham Institution for Savings at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIFS. Caitong International Asset Management Co. Ltd acquired a new position in Hingham Institution for Savings in the third quarter valued at $41,000. Comerica Bank acquired a new stake in shares of Hingham Institution for Savings during the fourth quarter worth about $43,000. Fifth Third Bancorp acquired a new stake in shares of Hingham Institution for Savings during the first quarter worth about $44,000. Kestra Advisory Services LLC purchased a new stake in shares of Hingham Institution for Savings in the 4th quarter valued at about $85,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Hingham Institution for Savings in the 4th quarter valued at about $102,000. 49.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HIFS shares. Wall Street Zen upgraded Hingham Institution for Savings from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. Weiss Ratings upgraded Hingham Institution for Savings from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Hingham Institution for Savings Trading Down 1.2%

NASDAQ HIFS opened at $291.63 on Tuesday. The firm's fifty day moving average is $288.70 and its two-hundred day moving average is $290.82. Hingham Institution for Savings has a one year low of $235.17 and a one year high of $337.99. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market cap of $636.34 million, a PE ratio of 9.71 and a beta of 0.83.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) last announced its earnings results on Friday, July 17th. The savings and loans company reported $4.82 earnings per share for the quarter. Hingham Institution for Savings had a net margin of 25.94% and a return on equity of 8.43%. The business had revenue of $42.92 million during the quarter.

Hingham Institution for Savings Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.52 annualized dividend and a yield of 0.9%. Hingham Institution for Savings's dividend payout ratio is currently 8.39%.

About Hingham Institution for Savings

Hingham Institution for Savings is a mutual savings bank headquartered in Hingham, Massachusetts. Founded in 1834, the bank combines the community-oriented focus of a mutual institution with the transparency and oversight associated with a publicly traded company under the NASDAQ ticker HIFS.

The institution's core activities include deposit and lending services tailored to individuals and businesses. Deposit offerings encompass checking and savings accounts, money market accounts, certificates of deposit and individual retirement accounts, supported by online and mobile banking platforms.

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