Hingham Institution for Savings (NASDAQ:HIFS) Short Interest Update

Hingham Institution for Savings (NASDAQ:HIFS) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 278,040 shares, a growth of 28.0% from the December 31st total of 217,273 shares. Based on an average daily volume of 96,864 shares, the days-to-cover ratio is currently 2.9 days. Approximately 12.8% of the company’s stock are short sold. Approximately 12.8% of the company’s stock are short sold. Based on an average daily volume of 96,864 shares, the days-to-cover ratio is currently 2.9 days.

Hingham Institution for Savings Price Performance

Shares of HIFS stock traded up $5.54 on Monday, reaching $303.99. The company’s stock had a trading volume of 57,376 shares, compared to its average volume of 69,288. The stock’s 50 day simple moving average is $293.47 and its 200-day simple moving average is $279.60. The company has a market capitalization of $662.70 million, a P/E ratio of 12.28 and a beta of 1.02. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.31. Hingham Institution for Savings has a 12-month low of $209.71 and a 12-month high of $320.00.

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

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

Hingham Institution for Savings Dividend Announcement

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

Hedge Funds Weigh In On Hingham Institution for Savings

Several large investors have recently modified their holdings of the stock. Maren Capital LLC increased its stake in Hingham Institution for Savings by 4.6% during the 2nd quarter. Maren Capital LLC now owns 200,131 shares of the savings and loans company’s stock valued at $49,702,000 after purchasing an additional 8,736 shares in the last quarter. UBS Group AG increased its holdings in shares of 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 worth $18,464,000 after purchasing an additional 9,493 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hingham Institution for Savings by 0.3% in the second quarter. Geode Capital Management LLC now owns 40,780 shares of the savings and loans company’s stock worth $10,130,000 after purchasing an additional 117 shares during the last quarter. De Lisle Partners LLP boosted its position in shares of Hingham Institution for Savings by 5.3% during the second quarter. De Lisle Partners LLP now owns 27,259 shares of the savings and loans company’s stock valued at $6,780,000 after buying an additional 1,360 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in 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 buying an additional 16,360 shares during the last quarter. Hedge funds and other institutional investors own 49.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hingham Institution for Savings in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.