Hingham Institution for Savings (NASDAQ:HIFS) Sees Large Volume Increase Following Dividend Announcement

Hingham Institution for Savings (NASDAQ:HIFS) shares saw unusually-strong trading volume on Tuesday following a dividend announcement from the company. Approximately 22,910 shares traded hands during mid-day trading, an increase of 53% from the previous session’s volume of 14,991 shares.The stock last traded at $235.55 and had previously closed at $220.20.

The newly announced dividend which will be paid on Wednesday, May 14th. Shareholders of record on Monday, May 5th will be issued a $0.63 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.52 annualized dividend and a yield of 1.07%. Hingham Institution for Savings’s payout ratio is currently 19.47%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Hingham Institution for Savings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 8th.

Hingham Institution for Savings Price Performance

The company has a debt-to-equity ratio of 3.63, a current ratio of 1.57 and a quick ratio of 1.57. The business’s fifty day moving average price is $245.89 and its 200-day moving average price is $255.59. The stock has a market capitalization of $506.43 million, a price-to-earnings ratio of 18.36 and a beta of 0.92.

Hingham Institution for Savings (NASDAQ:HIFS) last released its quarterly earnings results on Friday, April 11th. The savings and loans company reported $2.78 earnings per share (EPS) for the quarter. The business had revenue of $17.59 million during the quarter. Hingham Institution for Savings had a return on equity of 2.95% and a net margin of 12.97%.

Institutional Investors Weigh In On Hingham Institution for Savings

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Hingham Institution for Savings by 28,778.6% during the 1st quarter. GAMMA Investing LLC now owns 4,043 shares of the savings and loans company’s stock worth $9,610,000 after acquiring an additional 4,029 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Hingham Institution for Savings during the fourth quarter worth about $403,000. Rafferty Asset Management LLC boosted its holdings in Hingham Institution for Savings by 9.1% during the fourth quarter. Rafferty Asset Management LLC now owns 2,863 shares of the savings and loans company’s stock worth $728,000 after purchasing an additional 238 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Hingham Institution for Savings in the 4th quarter worth about $295,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hingham Institution for Savings by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 886 shares of the savings and loans company’s stock valued at $225,000 after buying an additional 49 shares during the last quarter. Institutional investors own 49.33% of the company’s stock.

About Hingham Institution for Savings

Hingham Institution for Savings provides various financial products and services to individuals and small businesses in the United States. It offers savings, checking, money market, demand, and negotiable order of withdrawal accounts, as well as certificates of deposit. The company provides commercial and residential real estate, construction, home equity, commercial, consumer, and mortgage loans.