Hingham Institution for Savings (NASDAQ:HIFS) Reaches New 52-Week High – Here’s What Happened

Hingham Institution for Savings (NASDAQ:HIFS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $330.94 and last traded at $322.29, with a volume of 11531 shares. The stock had previously closed at $316.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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.com, Hingham Institution for Savings has an average rating of “Hold”.

Hingham Institution for Savings Trading Up 3.4%

The stock has a market cap of $712.70 million, a price-to-earnings ratio of 13.20 and a beta of 1.02. The business has a 50-day simple moving average of $293.90 and a two-hundred day simple moving average of $280.11. 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 announced its quarterly earnings data on Friday, January 16th. The savings and loans company reported $4.54 EPS for the quarter. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%. The business had revenue of $35.02 million for the quarter.

Hingham Institution for Savings Announces Dividend

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

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

Institutional Trading of Hingham Institution for Savings

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Maren Capital LLC boosted its position in Hingham Institution for Savings by 4.6% during 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. UBS Group AG boosted its holdings in shares of Hingham Institution for Savings by 15.7% in the 3rd quarter. UBS Group AG now owns 69,998 shares of the savings and loans company’s stock valued at $18,464,000 after buying an additional 9,493 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hingham Institution for Savings by 0.3% in the second quarter. Geode Capital Management LLC now owns 40,780 shares of the savings and loans company’s stock valued at $10,130,000 after buying an additional 117 shares in the last quarter. De Lisle Partners LLP grew its stake in shares of Hingham Institution for Savings by 5.3% in the second quarter. De Lisle Partners LLP now owns 27,259 shares of the savings and loans company’s stock valued at $6,780,000 after buying an additional 1,360 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in 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 during the last quarter. Institutional investors own 49.33% of the company’s stock.

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.