Rafferty Asset Management LLC Has $1.59 Million Stock Position in Hingham Institution for Savings $HIFS

Rafferty Asset Management LLC increased its stake in Hingham Institution for Savings (NASDAQ:HIFS) by 112.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,035 shares of the savings and loans company’s stock after purchasing an additional 3,199 shares during the quarter. Rafferty Asset Management LLC’s holdings in Hingham Institution for Savings were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. RWA Wealth Partners LLC acquired a new position in shares of Hingham Institution for Savings in the third quarter worth about $204,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hingham Institution for Savings during the third quarter valued at approximately $211,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hingham Institution for Savings by 8.5% in 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 acquiring an additional 75 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Hingham Institution for Savings by 103.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,162 shares of the savings and loans company’s stock worth $289,000 after purchasing an additional 591 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Hingham Institution for Savings by 23.5% in the 2nd 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 period. 49.33% of the stock is owned by hedge funds and other institutional investors.

Hingham Institution for Savings Price Performance

NASDAQ HIFS opened at $277.11 on Friday. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $604.10 million, a price-to-earnings ratio of 11.19 and a beta of 1.02. The company has a 50 day simple moving average of $298.46 and a 200-day simple moving average of $288.38. Hingham Institution for Savings has a 52-week low of $209.71 and a 52-week high of $337.99.

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 firm had revenue of $35.02 million for the quarter.

Hingham Institution for Savings announced that its Board of Directors has initiated a stock buyback program on Friday, December 5th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the savings and loans company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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