Royce & Associates LP Sells 2,500 Shares of Hingham Institution for Savings $HIFS

Royce & Associates LP lowered its stake in Hingham Institution for Savings (NASDAQ:HIFS) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,773 shares of the savings and loans company’s stock after selling 2,500 shares during the quarter. Royce & Associates LP owned about 5.25% of Hingham Institution for Savings worth $29,747,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Rafferty Asset Management LLC lifted its stake in Hingham Institution for Savings by 112.8% in the third quarter. Rafferty Asset Management LLC now owns 6,035 shares of the savings and loans company’s stock valued at $1,592,000 after buying an additional 3,199 shares during the period. RWA Wealth Partners LLC bought a new stake in shares of Hingham Institution for Savings in the 3rd quarter valued at about $204,000. JPMorgan Chase & Co. raised its position in shares of Hingham Institution for Savings by 100.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,727 shares of the savings and loans company’s stock valued at $719,000 after acquiring an additional 1,369 shares during the period. Rhumbline Advisers raised its position in shares of Hingham Institution for Savings by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 2,265 shares of the savings and loans company’s stock valued at $597,000 after acquiring an additional 38 shares during the period. Finally, Anchor Capital Advisors LLC boosted its stake 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 worth $1,418,000 after acquiring an additional 85 shares during the last quarter. 49.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Hingham Institution for Savings Stock Performance

Shares of HIFS opened at $279.12 on Monday. The firm has a market cap of $609.04 million, a P/E ratio of 11.27 and a beta of 1.02. Hingham Institution for Savings has a twelve month low of $209.71 and a twelve month high of $337.99. The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.57 and a current ratio of 1.57. The firm’s 50 day moving average price is $299.77 and its two-hundred day moving average price is $288.15.

Hingham Institution for Savings (NASDAQ:HIFS) last issued its quarterly earnings data on Friday, January 16th. The savings and loans company reported $4.54 EPS for the quarter. The business 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 declared that its board has authorized a share repurchase program on Friday, December 5th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the savings and loans company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.