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

Hingham Institution for Savings (NASDAQ:HIFS)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Analyst Upgrades and Downgrades

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

Hingham Institution for Savings Trading Down 0.6%

The stock has a market cap of $686.24 million, a PE ratio of 12.70 and a beta of 1.02. The company’s 50-day moving average price is $298.82 and its 200 day moving average price is $285.95. The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.57 and a current ratio of 1.57.

Hingham Institution for Savings (NASDAQ:HIFS) last posted its earnings results on Friday, January 16th. The savings and loans company reported $4.54 earnings per share (EPS) for the quarter. The company had revenue of $35.02 million during 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 company also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Stockholders 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 dividend yield of 85.0%. Hingham Institution for Savings’s payout ratio is presently 10.18%.

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

Hedge Funds Weigh In On Hingham Institution for Savings

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hingham Institution for Savings during the third quarter worth approximately $41,000. Comerica Bank purchased a new position in Hingham Institution for Savings in the fourth quarter valued at $43,000. Kestra Advisory Services LLC purchased a new position in Hingham Institution for Savings in the fourth quarter valued at approximately $85,000. Flagship Harbor Advisors LLC acquired a new position in shares of Hingham Institution for Savings in the 4th quarter valued at $102,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Hingham Institution for Savings during the 4th quarter worth $200,000. Hedge funds and other institutional investors own 49.33% of the company’s stock.

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.