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

Hingham Institution for Savings (NASDAQ:HIFS) posted its earnings results on Friday. The savings and loans company reported $4.54 earnings per share (EPS) for the quarter, Zacks reports. Hingham Institution for Savings had a net margin of 19.77% and a return on equity of 6.04%.

Hingham Institution for Savings Trading Up 2.0%

Shares of Hingham Institution for Savings stock opened at $294.66 on Friday. The firm has a 50-day simple moving average of $286.35 and a two-hundred day simple moving average of $277.37. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 3.31. Hingham Institution for Savings has a fifty-two week low of $209.71 and a fifty-two week high of $320.00.

Hingham Institution for Savings Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, January 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a yield of 85.0%. Hingham Institution for Savings’s payout ratio is presently 12.27%.

Hingham Institution for Savings declared that its Board of Directors has authorized a share repurchase program 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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 stock. UBS Group AG increased its position in shares of Hingham Institution for Savings by 15.7% during the third 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 in the last quarter. Two Sigma Investments LP lifted its stake in Hingham Institution for Savings by 150.9% in the 3rd quarter. Two Sigma Investments LP now owns 27,199 shares of the savings and loans company’s stock worth $7,175,000 after purchasing an additional 16,360 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of 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. Millennium Management LLC grew its position in shares of Hingham Institution for Savings by 230.8% in the third quarter. Millennium Management LLC now owns 12,645 shares of the savings and loans company’s stock valued at $3,335,000 after purchasing an additional 8,823 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Hingham Institution for Savings in the first quarter valued at approximately $952,000. 49.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hingham Institution for Savings in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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.