Hingham Institution for Savings (NASDAQ:HIFS) Posts Quarterly Earnings Results

Hingham Institution for Savings (NASDAQ:HIFS) posted its quarterly earnings data on Friday. The savings and loans company reported $4.79 earnings per share (EPS) for the quarter, Zacks reports. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%.

Hingham Institution for Savings Price Performance

Shares of HIFS stock traded up $6.84 during trading hours on Friday, reaching $307.64. 82,704 shares of the company were exchanged, compared to its average volume of 62,132. Hingham Institution for Savings has a fifty-two week low of $220.76 and a fifty-two week high of $337.99. The stock’s fifty day moving average is $290.69 and its two-hundred day moving average is $289.33. The company has a market cap of $671.27 million, a price-to-earnings ratio of 12.42 and a beta of 0.94. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.57 and a quick ratio of 1.57.

Institutional Investors Weigh In On Hingham Institution for Savings

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in Hingham Institution for Savings by 33.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 206 shares of the savings and loans company’s stock valued at $58,000 after purchasing an additional 52 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $229,000 after purchasing an additional 75 shares in the last quarter. JPMorgan Chase & Co. grew its position in Hingham Institution for Savings by 23.5% in the second quarter. JPMorgan Chase & Co. now owns 1,358 shares of the savings and loans company’s stock valued at $337,000 after purchasing an additional 258 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Hingham Institution for Savings in the fourth quarter valued at $85,000. Finally, Bank of America Corp DE grew its position in Hingham Institution for Savings by 11.0% in the second quarter. Bank of America Corp DE now owns 3,169 shares of the savings and loans company’s stock valued at $787,000 after purchasing an additional 314 shares in the last quarter. 49.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

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.