Share Repurchase Plan Initiated by Hingham Institution for Savings (NASDAQ:HIFS) Board

Hingham Institution for Savings (NASDAQ:HIFS) announced that its Board of Directors has initiated a share buyback program on Friday, December 5th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization permits the savings and loans company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hingham Institution for Savings in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Hingham Institution for Savings Stock Performance

Shares of NASDAQ HIFS traded up $2.07 during midday trading on Friday, hitting $301.04. 46,659 shares of the company’s stock were exchanged, compared to its average volume of 48,831. Hingham Institution for Savings has a twelve month low of $209.71 and a twelve month high of $320.00. The stock’s 50 day moving average price is $282.87 and its 200-day moving average price is $266.62. The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.59 and a current ratio of 1.57.

Hingham Institution for Savings (NASDAQ:HIFS) last announced its earnings results on Friday, October 10th. The savings and loans company reported $3.86 EPS for the quarter. Hingham Institution for Savings had a return on equity of 6.04% and a net margin of 19.77%.The firm had revenue of $30.90 million for the quarter.

Hingham Institution for Savings Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, January 14th. Investors of record on Monday, January 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a yield of 86.0%. Hingham Institution for Savings’s dividend payout ratio (DPR) is currently 12.27%.

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.