Hingham Institution for Savings (NASDAQ:HIFS) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Hingham Institution for Savings (NASDAQ:HIFS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $290.79 and traded as high as $295.80. Hingham Institution for Savings shares last traded at $290.74, with a volume of 39,945 shares changing hands.

Analysts Set New Price Targets

HIFS has been the subject of a number of recent analyst reports. Wall Street Zen raised Hingham Institution for Savings from a “strong sell” rating to a “sell” rating in a research note on Sunday. Weiss Ratings raised Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Hingham Institution for Savings Stock Down 0.2%

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $634.39 million, a PE ratio of 12.75 and a beta of 0.83. The company’s 50 day moving average is $287.59 and its two-hundred day moving average is $290.79.

Hingham Institution for Savings (NASDAQ:HIFS) last released its quarterly earnings data on Friday, April 17th. The savings and loans company reported $4.79 EPS for the quarter. Hingham Institution for Savings had a net margin of 21.17% and a return on equity of 7.89%. The business had revenue of $22.43 million during the quarter.

Hedge Funds Weigh In On Hingham Institution for Savings

Several institutional investors have recently added to or reduced their stakes in HIFS. Parallel Advisors LLC raised its holdings in shares of Hingham Institution for Savings by 46.3% during the 1st quarter. Parallel Advisors LLC now owns 139 shares of the savings and loans company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Hingham Institution for Savings by 88.8% in the first quarter. Bank of America Corp DE now owns 12,656 shares of the savings and loans company’s stock valued at $3,618,000 after purchasing an additional 5,954 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Hingham Institution for Savings by 11.2% in the first quarter. Royal Bank of Canada now owns 793 shares of the savings and loans company’s stock valued at $226,000 after purchasing an additional 80 shares in the last quarter. Quantinno Capital Management LP increased its position in Hingham Institution for Savings by 78.5% in the first quarter. Quantinno Capital Management LP now owns 4,795 shares of the savings and loans company’s stock worth $1,371,000 after purchasing an additional 2,109 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Hingham Institution for Savings in the first quarter worth $296,000. 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.