Hingham Institution for Savings (NASDAQ:HIFS) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Hingham Institution for Savings (NASDAQ:HIFS) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $285.48 and traded as high as $316.72. Hingham Institution for Savings shares last traded at $316.27, with a volume of 28,512 shares traded.

Analyst Upgrades and Downgrades

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

Hingham Institution for Savings Stock Performance

The firm has a market capitalization of $689.47 million, a price-to-earnings ratio of 12.77 and a beta of 1.02. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.31. The business has a 50-day moving average price of $297.99 and a 200-day moving average price of $285.48.

Hingham Institution for Savings (NASDAQ:HIFS) last announced its quarterly earnings data on Friday, January 16th. The savings and loans company reported $4.54 earnings per share for the quarter. The business had revenue of $35.02 million for the quarter. Hingham Institution for Savings had a return on equity of 7.16% and a net margin of 23.04%.

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 issued a $0.70 dividend. This represents a dividend yield of 85.0%. The ex-dividend date of this dividend was Monday, January 5th. Hingham Institution for Savings’s payout ratio is 10.18%.

Hingham Institution for Savings announced that its Board of Directors has approved a share repurchase 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Hingham Institution for Savings

Institutional investors have recently made changes to their positions in the company. De Lisle Partners LLP grew its stake in Hingham Institution for Savings by 5.3% during the 2nd quarter. De Lisle Partners LLP now owns 27,259 shares of the savings and loans company’s stock valued at $6,780,000 after acquiring an additional 1,360 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Hingham Institution for Savings by 74.0% during the 2nd quarter. AlphaQuest LLC now owns 2,226 shares of the savings and loans company’s stock worth $553,000 after purchasing an additional 947 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Hingham Institution for Savings by 263.0% in the second quarter. Quantbot Technologies LP now owns 6,105 shares of the savings and loans company’s stock valued at $1,516,000 after purchasing an additional 4,423 shares in the last quarter. Maren Capital LLC increased its holdings in shares of Hingham Institution for Savings by 4.6% in the second quarter. Maren Capital LLC now owns 200,131 shares of the savings and loans company’s stock valued at $49,702,000 after purchasing an additional 8,736 shares during the last quarter. Finally, Rhumbline Advisers lifted its position 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 buying an additional 38 shares in the last quarter. 49.33% of the stock is owned by hedge funds and other institutional investors.

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.