Hingham Institution for Savings (NASDAQ:HIFS) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Hingham Institution for Savings (NASDAQ:HIFS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $285.48 and traded as high as $316.72. Hingham Institution for Savings shares last traded at $316.27, with a volume of 28,512 shares changing hands.

Analyst Upgrades and Downgrades

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

Hingham Institution for Savings Stock Up 1.1%

The firm has a fifty day moving average price of $297.99 and a 200 day moving average price of $285.48. The firm has a market capitalization of $689.47 million, a price-to-earnings ratio of 12.77 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.

Hingham Institution for Savings (NASDAQ:HIFS) last posted its quarterly earnings results on Friday, January 16th. The savings and loans company reported $4.54 earnings per share for the quarter. The business had revenue of $35.02 million for the quarter. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%.

Hingham Institution for Savings Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, January 5th were given a dividend of $0.70 per share. This represents a dividend yield of 85.0%. The ex-dividend date was Monday, January 5th. Hingham Institution for Savings’s payout ratio is currently 10.18%.

Hingham Institution for Savings announced that its board has initiated a share repurchase plan on Friday, December 5th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the savings and loans company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Hingham Institution for Savings

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its holdings in shares of 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 during the period. Mission Wealth Management LP acquired a new stake in Hingham Institution for Savings during the 4th quarter worth approximately $4,222,000. Bank of America Corp DE increased its position in 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 in the last quarter. UBS Group AG raised its holdings in Hingham Institution for Savings by 15.7% in the third quarter. UBS Group AG now owns 69,998 shares of the savings and loans company’s stock valued at $18,464,000 after buying an additional 9,493 shares during the period. Finally, Millennium Management LLC grew its stake in Hingham Institution for Savings by 230.8% during the third quarter. Millennium Management LLC now owns 12,645 shares of the savings and loans company’s stock worth $3,335,000 after buying an additional 8,823 shares during the period. 49.33% of the stock is currently owned by institutional investors and hedge funds.

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.