Hingham Institution for Savings (NASDAQ:HIFS) Stock Price Down 4.1% - What's Next?

Key Points

• HIFS shares dropped ~4.1% intraday to about $295 with only ~4,573 shares trading, roughly a 93% decline versus its average daily volume, indicating low liquidity on the move.
• Weiss Ratings upgraded HIFS to a "Buy" and the stock has an average analyst rating of Buy; the bank reported quarterly EPS of $4.79, a P/E of ~12.2 and a market cap of about $606M.
• The board declared a quarterly dividend of $0.63 per share (annualized $2.52) with an ex-dividend date of May 4 and a yield around 0.9%, and institutional investors own roughly 49% of the company.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report)'s stock price dropped 4.1% during mid-day trading on Monday . The company traded as low as $302.01 and last traded at $295.0520. Approximately 4,573 shares changed hands during trading, a decline of 93% from the average daily volume of 61,300 shares. The stock had previously closed at $307.64.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Hingham Institution for Savings from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 23rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy".

Hingham Institution for Savings Stock Down 9.7%

The firm's 50-day moving average price is $290.17 and its 200 day moving average price is $290.03. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 3.31. The company has a market capitalization of $606.39 million, a price-to-earnings ratio of 12.18 and a beta of 0.94.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The savings and loans company reported $4.79 earnings per share (EPS) for the quarter. Hingham Institution for Savings had a net margin of 21.17% and a return on equity of 8.06%. The business had revenue of $22.43 million for the quarter.

Hingham Institution for Savings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Monday, May 4th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, May 4th. Hingham Institution for Savings's dividend payout ratio is currently 11.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HIFS. Comerica Bank bought a new position in shares of Hingham Institution for Savings in the fourth quarter worth about $43,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hingham Institution for Savings during the 3rd quarter valued at approximately $41,000. Kestra Advisory Services LLC acquired a new position in Hingham Institution for Savings during the 4th quarter worth approximately $85,000. Flagship Harbor Advisors LLC acquired a new position in Hingham Institution for Savings during the 4th quarter worth approximately $102,000. Finally, Balyasny Asset Management L.P. bought a new position in Hingham Institution for Savings in the 4th quarter valued at approximately $200,000. Institutional investors own 49.33% of the company's stock.

Hingham Institution for Savings Company Profile

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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