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 published on Saturday morning.

NASDAQ:HIFS traded down $0.60 during mid-day trading on Friday, reaching $212.11. 500 shares of the company were exchanged, compared to its average volume of 3,408. Hingham Institution for Savings has a 12 month low of $172.62 and a 12 month high of $242.00. The firm has a market cap of $444.49 million, a P/E ratio of 16.01 and a beta of 0.82.

Hingham Institution for Savings (NASDAQ:HIFS) last issued its quarterly earnings data on Thursday, April 12th. The savings and loans company reported $4.08 EPS for the quarter. The company had revenue of $17.75 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 18th. Shareholders of record on Monday, April 9th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, April 6th.

A number of large investors have recently modified their holdings of HIFS. MetLife Investment Advisors LLC bought a new stake in Hingham Institution for Savings during the 4th quarter worth about $148,000. Wells Fargo & Company MN boosted its stake in shares of Hingham Institution for Savings by 56.9% in the 3rd quarter. Wells Fargo & Company MN now owns 1,458 shares of the savings and loans company’s stock valued at $277,000 after purchasing an additional 529 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Hingham Institution for Savings in the 4th quarter valued at about $298,000. SeaCrest Wealth Management LLC bought a new position in shares of Hingham Institution for Savings in the 4th quarter valued at about $565,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Hingham Institution for Savings by 21.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,030 shares of the savings and loans company’s stock valued at $628,000 after purchasing an additional 534 shares during the last quarter. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

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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