Hingham Institution for Savings (NASDAQ:HIFS) Stock Moved Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Hingham Institution for Savings (NASDAQ:HIFS) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Hingham Institution for Savings from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Hingham Institution for Savings Stock Down 1.8%

HIFS stock opened at $296.94 on Friday. The stock’s 50 day simple moving average is $298.15 and its 200 day simple moving average is $293.75. The company has a market cap of $647.92 million, a P/E ratio of 10.65 and a beta of 0.84. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.49 and a current ratio of 1.49. Hingham Institution for Savings has a fifty-two week low of $249.58 and a fifty-two week high of $337.99.

Hingham Institution for Savings (NASDAQ:HIFS) last announced its quarterly earnings data on Friday, October 16th. The savings and loans company reported $5.37 EPS for the quarter. Hingham Institution for Savings had a return on equity of 8.81% and a net margin of 24.95%. The firm had revenue of $25.37 million during the quarter.

Hingham Institution for Savings Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 2nd. Hingham Institution for Savings’s payout ratio is currently 9.04%.

Institutional Trading of Hingham Institution for Savings

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Hingham Institution for Savings by 39.2% in the third quarter. Parallel Advisors LLC now owns 135 shares of the savings and loans company’s stock worth $38,000 after acquiring an additional 38 shares during the period. Schwartz Investment Counsel Inc. grew its position in shares of Hingham Institution for Savings by 0.3% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 81,797 shares of the savings and loans company’s stock valued at $23,115,000 after acquiring an additional 215 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Hingham Institution for Savings during the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC increased its stake in shares of Hingham Institution for Savings by 46.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 119 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Hingham Institution for Savings during the 2nd quarter worth approximately $861,000. Institutional investors own 49.33% of the company’s stock.

About Hingham Institution for Savings

Hingham Institution for Savings is a community bank headquartered in Hingham, Massachusetts. Founded in 1834, the institution provides banking services to individuals, families, businesses and organizations in eastern Massachusetts, including the South Shore and Nantucket.

The bank offers deposit products such as checking, savings, money market and certificate of deposit accounts, along with online and traditional banking services. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, construction loans and other business loans.

Hingham Institution for Savings emphasizes relationship-based banking and locally focused lending.