Hingham Institution for Savings (NASDAQ:HIFS) Issues Quarterly Earnings Results

Hingham Institution for Savings (NASDAQ:HIFS) issued its quarterly earnings data on Friday. The savings and loans company reported $4.54 EPS for the quarter, Zacks reports. Hingham Institution for Savings had a return on equity of 6.04% and a net margin of 19.77%.The business had revenue of $35.02 million for the quarter.

Hingham Institution for Savings Trading Up 2.0%

Hingham Institution for Savings stock opened at $294.66 on Friday. The company has a market cap of $633.52 million, a price-to-earnings ratio of 11.90 and a beta of 1.01. The firm has a 50-day moving average of $286.35 and a 200-day moving average of $277.48. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.57 and a quick ratio of 1.57. Hingham Institution for Savings has a one year low of $209.71 and a one year high of $320.00.

Hingham Institution for Savings Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, January 5th were paid a $0.70 dividend. This represents a yield of 85.0%. The ex-dividend date was Monday, January 5th. Hingham Institution for Savings’s payout ratio is presently 10.18%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HIFS. Caitong International Asset Management Co. Ltd bought a new position in shares of Hingham Institution for Savings in the 3rd quarter valued at about $41,000. Millennium Management LLC lifted its stake in Hingham Institution for Savings by 230.8% in the 3rd quarter. Millennium Management LLC now owns 12,645 shares of the savings and loans company’s stock valued at $3,335,000 after purchasing an additional 8,823 shares during the last quarter. Bank of America Corp DE grew its holdings in Hingham Institution for Savings by 337.2% during the third quarter. Bank of America Corp DE now owns 13,856 shares of the savings and loans company’s stock worth $3,655,000 after purchasing an additional 10,687 shares during the period. Creative Planning increased its position in Hingham Institution for Savings by 16.8% during the third quarter. Creative Planning now owns 2,239 shares of the savings and loans company’s stock worth $591,000 after buying an additional 322 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Hingham Institution for Savings during the third quarter worth approximately $396,000. Institutional investors and hedge funds own 49.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hingham Institution for Savings announced that its Board of Directors has approved a stock repurchase program on Friday, December 5th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the savings and loans company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Hingham Institution for Savings

Hingham Institution for Savings is a mutual savings bank headquartered in Hingham, Massachusetts. Founded in 1834, the bank combines the community-oriented focus of a mutual institution with the transparency and oversight associated with a publicly traded company under the NASDAQ ticker HIFS.

The institution’s core activities include deposit and lending services tailored to individuals and businesses. Deposit offerings encompass checking and savings accounts, money market accounts, certificates of deposit and individual retirement accounts, supported by online and mobile banking platforms.