Hingham Institution for Savings (NASDAQ:HIFS) Shares Gap Down – Should You Sell?

Shares of Hingham Institution for Savings (NASDAQ:HIFS) gapped down prior to trading on Thursday . The stock had previously closed at $242.01, but opened at $235.65. Hingham Institution for Savings shares last traded at $235.65, with a volume of 1,806 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Hingham Institution for Savings from a “sell” rating to a “hold” rating in a research note on Monday.

Hingham Institution for Savings Stock Performance

The company has a debt-to-equity ratio of 3.63, a quick ratio of 1.57 and a current ratio of 1.57. The stock’s 50 day moving average price is $268.52 and its 200 day moving average price is $247.86. The company has a market capitalization of $517.87 million, a P/E ratio of 22.77 and a beta of 1.02.

Hingham Institution for Savings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, January 6th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.52 dividend on an annualized basis and a yield of 1.04%. Hingham Institution for Savings’s payout ratio is currently 23.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HIFS. Bank of New York Mellon Corp lifted its stake in Hingham Institution for Savings by 13.5% in the second quarter. Bank of New York Mellon Corp now owns 5,732 shares of the savings and loans company’s stock valued at $1,025,000 after buying an additional 681 shares during the period. Rhumbline Advisers increased its stake in Hingham Institution for Savings by 4.0% in the second quarter. Rhumbline Advisers now owns 2,350 shares of the savings and loans company’s stock valued at $420,000 after purchasing an additional 90 shares in the last quarter. American Century Companies Inc. increased its stake in Hingham Institution for Savings by 35.4% in the second quarter. American Century Companies Inc. now owns 12,369 shares of the savings and loans company’s stock valued at $2,213,000 after purchasing an additional 3,231 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Hingham Institution for Savings by 1.1% during the second quarter. AQR Capital Management LLC now owns 4,719 shares of the savings and loans company’s stock valued at $844,000 after purchasing an additional 51 shares during the period. Finally, Doma Perpetual Capital Management LLC grew its stake in shares of Hingham Institution for Savings by 120.9% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 85,568 shares of the savings and loans company’s stock valued at $15,306,000 after buying an additional 46,834 shares during the period. 49.33% of the stock is owned by institutional investors and hedge funds.

Hingham Institution for Savings Company Profile

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.