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

Hingham Institution for Savings (NASDAQ:HIFS) announced its quarterly earnings data on Friday. The savings and loans company reported $4.79 EPS for the quarter, Zacks reports. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%.

Hingham Institution for Savings Stock Up 2.3%

Shares of HIFS stock traded up $6.84 during mid-day trading on Friday, hitting $307.64. The stock had a trading volume of 82,704 shares, compared to its average volume of 62,132. Hingham Institution for Savings has a 12-month low of $220.76 and a 12-month high of $337.99. The firm has a market capitalization of $671.27 million, a P/E ratio of 12.42 and a beta of 0.94. The firm’s 50-day moving average is $290.69 and its two-hundred day moving average is $289.33. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.57 and a quick ratio of 1.57.

Institutional Trading of Hingham Institution for Savings

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Hingham Institution for Savings during the 2nd quarter valued at approximately $524,000. Trexquant Investment LP acquired a new position in shares of Hingham Institution for Savings during the 4th quarter worth approximately $586,000. Creative Planning raised its position in shares of Hingham Institution for Savings by 16.8% during the 3rd quarter. Creative Planning now owns 2,239 shares of the savings and loans company’s stock worth $591,000 after purchasing an additional 322 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Hingham Institution for Savings by 20.5% during the 4th quarter. AQR Capital Management LLC now owns 2,288 shares of the savings and loans company’s stock worth $650,000 after purchasing an additional 389 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Hingham Institution for Savings during the 2nd quarter worth approximately $698,000. 49.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Hingham Institution for Savings has an average rating of “Buy”.

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.