Hingham Institution for Savings (NASDAQ:HIFS) Short Interest Up 28.0% in January

Hingham Institution for Savings (NASDAQ:HIFS) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 278,040 shares, a growth of 28.0% from the December 31st total of 217,273 shares. Based on an average daily trading volume, of 96,864 shares, the days-to-cover ratio is currently 2.9 days. Currently, 12.8% of the shares of the stock are short sold. Currently, 12.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 96,864 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of Hingham Institution for Savings

A number of hedge funds have recently bought and sold shares of HIFS. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hingham Institution for Savings in the third quarter worth about $41,000. Comerica Bank acquired a new position in Hingham Institution for Savings in the 4th quarter worth approximately $43,000. Flagship Harbor Advisors LLC purchased a new position in Hingham Institution for Savings during the 4th quarter worth approximately $102,000. Inceptionr LLC purchased a new position in Hingham Institution for Savings during the 3rd quarter worth approximately $202,000. Finally, RWA Wealth Partners LLC acquired a new stake in Hingham Institution for Savings during the 3rd quarter valued at $204,000. 49.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hingham Institution for Savings in a research note on Thursday, January 22nd. One 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 Performance

NASDAQ:HIFS opened at $316.09 on Wednesday. The company has a 50-day moving average of $293.90 and a 200-day moving average of $280.11. The firm has a market cap of $689.08 million, a price-to-earnings ratio of 12.77 and a beta of 1.02. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 3.31. Hingham Institution for Savings has a twelve month low of $209.71 and a twelve month high of $320.00.

Hingham Institution for Savings (NASDAQ:HIFS) last released its earnings results 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 Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, January 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a dividend yield of 85.0%. Hingham Institution for Savings’s dividend payout ratio (DPR) is currently 10.18%.

Hingham Institution for Savings declared that its Board of Directors has initiated a share buyback program 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Hingham Institution for Savings Company Profile

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.