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

Hingham Institution for Savings (NASDAQ:HIFS) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $290.07 and traded as low as $283.56. Hingham Institution for Savings shares last traded at $285.36, with a volume of 19,158 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HIFS shares. Weiss Ratings upgraded Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Wall Street Zen lowered shares of Hingham Institution for Savings from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Hingham Institution for Savings Stock Up 0.2%

The business’s fifty day moving average price is $285.34 and its 200 day moving average price is $290.07. 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 firm has a market capitalization of $622.66 million, a PE ratio of 12.51 and a beta of 0.84.

Hingham Institution for Savings (NASDAQ:HIFS) last announced its earnings results on Friday, April 17th. The savings and loans company reported $4.79 earnings per share 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.

Hingham Institution for Savings Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Monday, May 4th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.52 annualized dividend and a yield of 0.9%. Hingham Institution for Savings’s dividend payout ratio is currently 11.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP increased its holdings in shares of Hingham Institution for Savings by 150.9% in the third quarter. Two Sigma Investments LP now owns 27,199 shares of the savings and loans company’s stock valued at $7,175,000 after purchasing an additional 16,360 shares during the period. Mission Wealth Management LP acquired a new stake in shares of Hingham Institution for Savings during the fourth quarter worth $4,222,000. Bessemer Group Inc. acquired a new stake in shares of Hingham Institution for Savings during the first quarter worth $4,002,000. Bank of America Corp DE grew its position in Hingham Institution for Savings by 337.2% in the 3rd quarter. Bank of America Corp DE now owns 13,856 shares of the savings and loans company’s stock valued at $3,655,000 after buying an additional 10,687 shares during the last quarter. Finally, UBS Group AG grew its position in Hingham Institution for Savings by 15.7% in the 3rd 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 last quarter. 49.33% of the stock is currently 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.