Hingham Institution for Savings (NASDAQ:HIFS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Hingham Institution for Savings (NASDAQ:HIFS)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $282.94 and traded as high as $312.00. Hingham Institution for Savings shares last traded at $300.89, with a volume of 79,064 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hingham Institution for Savings in a report 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 1.7%

The firm has a market capitalization of $655.94 million, a PE ratio of 12.15 and a beta of 1.02. The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a fifty day moving average of $297.05 and a 200 day moving average of $282.94.

Hingham Institution for Savings (NASDAQ:HIFS) last released its quarterly 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 return on equity of 7.16% and a net margin of 23.04%.The firm had revenue of $35.02 million during the quarter.

Hingham Institution for Savings Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, January 5th were issued a dividend of $0.70 per share. This represents a 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 announced that its board has initiated a stock buyback program 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 buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Hingham Institution for Savings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 in the last quarter. Jane Street Group LLC acquired a new stake in Hingham Institution for Savings during the 1st quarter valued at approximately $952,000. AlphaQuest LLC increased its holdings in Hingham Institution for Savings by 74.0% during the 2nd quarter. AlphaQuest LLC now owns 2,226 shares of the savings and loans company’s stock worth $553,000 after purchasing an additional 947 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Hingham Institution for Savings by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 40,780 shares of the savings and loans company’s stock valued at $10,130,000 after purchasing an additional 117 shares in the last quarter. 49.33% of the stock is owned by hedge funds and other institutional investors.

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.