Short Interest in Hingham Institution for Savings (NASDAQ:HIFS) Rises By 28.0%

Hingham Institution for Savings (NASDAQ:HIFS) saw a significant growth in short interest during the month of 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. Based on an average daily volume of 96,864 shares, the days-to-cover ratio is currently 2.9 days. Currently, 12.8% of the shares of the company are short sold. Currently, 12.8% of the shares of the company are short sold. Based on an average daily volume of 96,864 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hingham Institution for Savings in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Hingham Institution for Savings has a consensus rating of “Hold”.

Hingham Institution for Savings Price Performance

NASDAQ:HIFS traded up $5.54 during trading hours on Monday, reaching $303.99. The stock had a trading volume of 57,376 shares, compared to its average volume of 69,288. The stock has a market capitalization of $662.70 million, a PE ratio of 12.28 and a beta of 1.02. Hingham Institution for Savings has a 52 week low of $209.71 and a 52 week high of $320.00. The company has a 50 day moving average price of $293.47 and a two-hundred day moving average price of $279.60. 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 for the quarter. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%. The firm had revenue of $35.02 million during the quarter.

Hingham Institution for Savings Dividend Announcement

The business 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. This represents a dividend yield of 85.0%. The ex-dividend date of this dividend was Monday, January 5th. Hingham Institution for Savings’s dividend payout ratio (DPR) is presently 10.18%.

Hingham Institution for Savings declared that its Board of Directors has approved a share buyback program 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Hingham Institution for Savings

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of Hingham Institution for Savings by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 2,265 shares of the savings and loans company’s stock worth $597,000 after acquiring an additional 38 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hingham Institution for Savings by 8.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961 shares of the savings and loans company’s stock worth $229,000 after purchasing an additional 75 shares during the last quarter. Anchor Capital Advisors LLC boosted its position in shares of Hingham Institution for Savings by 1.6% during the third quarter. Anchor Capital Advisors LLC now owns 5,374 shares of the savings and loans company’s stock valued at $1,418,000 after buying an additional 85 shares during the period. Geode Capital Management LLC raised its holdings 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 worth $10,130,000 after buying an additional 117 shares during the period. Finally, Comerica Bank bought a new stake in shares of Hingham Institution for Savings during the 4th quarter worth approximately $43,000. 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.