Hingham Institution for Savings (NASDAQ:HIFS) Shares Down 7.7% – What’s Next?

Hingham Institution for Savings (NASDAQ:HIFS)’s stock price dropped 7.7% during trading on Wednesday . The stock traded as low as $290.36 and last traded at $279.7410. Approximately 22,933 shares changed hands during trading, a decline of 64% from the average daily volume of 63,222 shares. The stock had previously closed at $303.24.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Hingham Institution for Savings in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Hingham Institution for Savings Stock Down 2.6%

The firm has a market capitalization of $643.75 million, a price-to-earnings ratio of 12.00 and a beta of 1.02. The business has a 50 day moving average of $299.71 and a 200 day moving average of $287.36. 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 (NASDAQ:HIFS) last announced its quarterly earnings results on Friday, January 16th. The savings and loans company reported $4.54 earnings per share (EPS) for the quarter. The firm had revenue of $35.02 million for the quarter. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%.

Hingham Institution for Savings announced that its board has authorized a stock repurchase plan on Friday, December 5th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the savings and loans company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Hingham Institution for Savings

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Hingham Institution for Savings by 1.7% during the third quarter. Rhumbline Advisers now owns 2,265 shares of the savings and loans company’s stock worth $597,000 after acquiring an additional 38 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Hingham Institution for Savings by 33.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 206 shares of the savings and loans company’s stock worth $58,000 after purchasing an additional 52 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hingham Institution for Savings by 8.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961 shares of the savings and loans company’s stock worth $229,000 after purchasing an additional 75 shares in the last quarter. Anchor Capital Advisors LLC lifted its holdings in Hingham Institution for Savings by 1.6% during the 3rd quarter. Anchor Capital Advisors LLC now owns 5,374 shares of the savings and loans company’s stock valued at $1,418,000 after purchasing an additional 85 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in Hingham Institution for Savings by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 24,842 shares of the savings and loans company’s stock valued at $7,054,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 49.33% of the company’s stock.

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.