Hingham Institution for Savings (NASDAQ:HIFS) Announces Earnings Results

Hingham Institution for Savings (NASDAQ:HIFS) released 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 net margin of 19.77% and a return on equity of 6.04%.

Hingham Institution for Savings Stock Performance

NASDAQ HIFS traded up $5.86 during midday trading on Friday, hitting $294.66. 56,982 shares of the company traded hands, compared to its average volume of 92,586. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.31. Hingham Institution for Savings has a 52 week low of $209.71 and a 52 week high of $320.00. The company’s 50-day simple moving average is $286.22 and its 200-day simple moving average is $277.05.

Hingham Institution for Savings Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, January 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a yield of 85.0%. Hingham Institution for Savings’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hingham Institution for Savings in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Investors Weigh In On Hingham Institution for Savings

Several hedge funds have recently bought and sold shares of the stock. UBS Group AG grew its holdings in shares of Hingham Institution for Savings by 15.7% in the third quarter. UBS Group AG now owns 69,998 shares of the savings and loans company’s stock valued at $18,464,000 after purchasing an additional 9,493 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Hingham Institution for Savings by 150.9% during the third quarter. Two Sigma Investments LP now owns 27,199 shares of the savings and loans company’s stock worth $7,175,000 after buying an additional 16,360 shares in the last quarter. Bank of America Corp DE increased its stake in shares of 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 buying an additional 10,687 shares during the period. Millennium Management LLC raised its holdings in Hingham Institution for Savings by 230.8% in the third quarter. Millennium Management LLC now owns 12,645 shares of the savings and loans company’s stock valued at $3,335,000 after acquiring an additional 8,823 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Hingham Institution for Savings during the 1st quarter worth $952,000. Hedge funds and other institutional investors own 49.33% of the company’s stock.

Hingham Institution for Savings announced that its board has authorized a share repurchase program on Friday, December 5th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the savings and loans company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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.