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

Hingham Institution for Savings (NASDAQ:HIFS) declared that its Board of Directors has approved a stock repurchase plan on Friday, December 5th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization permits the savings and loans company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Hingham Institution for Savings Trading Up 0.7%

Hingham Institution for Savings stock traded up $2.07 during mid-day trading on Friday, reaching $301.04. 46,659 shares of the company traded hands, compared to its average volume of 48,831. The company has a quick ratio of 1.59, a current ratio of 1.57 and a debt-to-equity ratio of 3.31. Hingham Institution for Savings has a 52-week low of $209.71 and a 52-week high of $320.00. The firm’s 50 day moving average price is $282.87 and its 200 day moving average price is $266.62.

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

Hingham Institution for Savings Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Monday, January 5th will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, January 5th. This represents a dividend yield of 86.0%. Hingham Institution for Savings’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hingham Institution for Savings in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Hingham Institution for Savings presently has a consensus rating of “Hold”.

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.