Hingham Institution for Savings (NASDAQ:HIFS) Posts Quarterly Earnings Results

Hingham Institution for Savings (NASDAQ:HIFS) announced its earnings results on Friday. The savings and loans company reported $4.82 earnings per share (EPS) for the quarter, Zacks reports. Hingham Institution for Savings had a net margin of 21.17% and a return on equity of 7.89%. The company had revenue of $42.92 million for the quarter.

Hingham Institution for Savings Stock Down 2.3%

HIFS stock opened at $295.14 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.93. Hingham Institution for Savings has a 12 month low of $235.17 and a 12 month high of $337.99. The firm has a 50-day moving average price of $288.30 and a 200-day moving average price of $290.68. The stock has a market capitalization of $643.41 million, a P/E ratio of 9.83 and a beta of 0.83.

Hedge Funds Weigh In On Hingham Institution for Savings

Several large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP grew its holdings in shares of Hingham Institution for Savings by 150.9% during the 3rd 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 last quarter. Bank of America Corp DE lifted its stake in Hingham Institution for Savings by 337.2% in the third 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 during the last quarter. UBS Group AG lifted its stake 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 worth $18,464,000 after purchasing an additional 9,493 shares during the last quarter. Millennium Management LLC boosted its position 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 valued at $3,335,000 after buying an additional 8,823 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Hingham Institution for Savings during the fourth quarter valued at about $1,855,000. Institutional investors own 49.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HIFS. Weiss Ratings upgraded shares of Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Wall Street Zen raised Hingham Institution for Savings from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.