Hingham Institution for Savings (NASDAQ:HIFS) Short Interest Update

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. Approximately 12.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 96,864 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 96,864 shares, the days-to-cover ratio is presently 2.9 days. Approximately 12.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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, Based on data from MarketBeat, Hingham Institution for Savings has an average rating of “Hold”.

Institutional Investors Weigh In On Hingham Institution for Savings

A number of institutional investors have recently added to or reduced their stakes in HIFS. Two Sigma Investments LP raised its stake 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 valued at $7,175,000 after acquiring an additional 16,360 shares during the last quarter. Bank of America Corp DE raised its position in Hingham Institution for Savings by 337.2% during the 3rd quarter. Bank of America Corp DE now owns 13,856 shares of the savings and loans company’s stock worth $3,655,000 after purchasing an additional 10,687 shares during the last quarter. UBS Group AG raised its position in Hingham Institution for Savings by 15.7% during the 3rd quarter. UBS Group AG now owns 69,998 shares of the savings and loans company’s stock worth $18,464,000 after purchasing an additional 9,493 shares during the last quarter. Millennium Management LLC lifted its holdings in Hingham Institution for Savings by 230.8% during the 3rd quarter. Millennium Management LLC now owns 12,645 shares of the savings and loans company’s stock worth $3,335,000 after buying an additional 8,823 shares during the period. Finally, Maren Capital LLC grew its position in shares of Hingham Institution for Savings by 4.6% in the 2nd quarter. Maren Capital LLC now owns 200,131 shares of the savings and loans company’s stock valued at $49,702,000 after buying an additional 8,736 shares during the last quarter. 49.33% of the stock is owned by institutional investors.

Hingham Institution for Savings Price Performance

NASDAQ:HIFS traded up $12.10 on Tuesday, hitting $316.09. The company had a trading volume of 49,142 shares, compared to its average volume of 68,272. Hingham Institution for Savings has a 52 week low of $209.71 and a 52 week high of $320.00. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 3.31. The stock has a market capitalization of $689.08 million, a price-to-earnings ratio of 12.77 and a beta of 1.02. The firm has a 50 day moving average of $293.90 and a two-hundred day moving average of $280.11.

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. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%. The company had revenue of $35.02 million during the quarter.

Hingham Institution for Savings declared that its Board of Directors has initiated a share repurchase plan on Friday, December 5th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the savings and loans company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hingham Institution for Savings Announces Dividend

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

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.