Hingham Institution for Savings (NASDAQ:HIFS) Trading Down 7.7% – Should You Sell?

Hingham Institution for Savings (NASDAQ:HIFS)’s share price traded down 7.7% during mid-day trading on Wednesday . The company traded as low as $290.36 and last traded at $279.7410. 22,933 shares were traded during mid-day trading, a decline of 64% from the average session volume of 63,222 shares. The stock had previously closed at $303.24.

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 research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Hingham Institution for Savings has an average rating of “Hold”.

Hingham Institution for Savings Trading Down 7.4%

The stock has a market cap of $609.04 million, a PE ratio of 11.27 and a beta of 1.02. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 3.31. The firm has a fifty day simple moving average of $299.77 and a two-hundred day simple moving average of $287.76.

Hingham Institution for Savings (NASDAQ:HIFS) last posted its quarterly earnings data 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 company had revenue of $35.02 million for the quarter.

Hingham Institution for Savings announced that its board has authorized a share buyback plan on Friday, December 5th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the savings and loans company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Hingham Institution for Savings

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Hingham Institution for Savings by 54.3% during the first quarter. AQR Capital Management LLC now owns 1,634 shares of the savings and loans company’s stock worth $389,000 after acquiring an additional 575 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Hingham Institution for Savings by 8.5% during the 1st 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 during the last quarter. Jane Street Group LLC purchased a new position in Hingham Institution for Savings in the 1st quarter worth $952,000. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 117 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 worth $337,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other 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.