Hingham Institution for Savings (NASDAQ:HIFS) Shares Gap Down - Here's Why

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $240.41, but opened at $234.57. Hingham Institution for Savings shares last traded at $238.07, with a volume of 8,199 shares changing hands.

Analyst Ratings Changes

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

Hingham Institution for Savings Price Performance

The company has a market cap of $535.53 million, a price-to-earnings ratio of 19.28 and a beta of 0.92. The company has a fifty day simple moving average of $241.16 and a two-hundred day simple moving average of $255.72. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.63.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The savings and loans company reported $2.78 EPS for the quarter. Hingham Institution for Savings had a net margin of 12.97% and a return on equity of 2.95%. The firm had revenue of $17.59 million for the quarter.

Hingham Institution for Savings Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Monday, May 5th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.01%. The ex-dividend date is Monday, May 5th. Hingham Institution for Savings's payout ratio is 19.47%.

Institutional Trading of Hingham Institution for Savings

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hennessy Advisors Inc. grew its holdings in Hingham Institution for Savings by 20.0% in the first quarter. Hennessy Advisors Inc. now owns 6,000 shares of the savings and loans company's stock valued at $1,427,000 after purchasing an additional 1,000 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 4,029 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Hingham Institution for Savings in the 4th quarter worth $403,000. Rafferty Asset Management LLC boosted its holdings in Hingham Institution for Savings by 9.1% in the fourth quarter. Rafferty Asset Management LLC now owns 2,863 shares of the savings and loans company's stock valued at $728,000 after acquiring an additional 238 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in Hingham Institution for Savings during the fourth quarter valued at about $295,000. 49.33% of the stock is owned by hedge funds and other institutional investors.

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.