Wallace Capital Management Inc. Buys Shares of 2,000 Hingham Institution for Savings $HIFS

Wallace Capital Management Inc. bought a new position in shares of Hingham Institution for Savings (NASDAQ:HIFS) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,000 shares of the savings and loans company’s stock, valued at approximately $614,000.

A number of other institutional investors have also made changes to their positions in HIFS. Parallel Advisors LLC raised its stake in shares of Hingham Institution for Savings by 46.3% in the 1st quarter. Parallel Advisors LLC now owns 139 shares of the savings and loans company’s stock valued at $40,000 after acquiring an additional 44 shares during the period. Comerica Bank purchased a new position in shares of Hingham Institution for Savings during the 4th quarter worth approximately $43,000. Fifth Third Bancorp purchased a new position in shares of Hingham Institution for Savings during the 1st quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hingham Institution for Savings during the 3rd quarter worth approximately $41,000. Finally, Legal & General Group Plc acquired a new stake in Hingham Institution for Savings in the 2nd quarter valued at approximately $49,000. 49.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIFS. Wall Street Zen raised Hingham Institution for Savings from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Hingham Institution for Savings from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Hingham Institution for Savings Stock Performance

Shares of Hingham Institution for Savings stock opened at $300.17 on Thursday. The stock has a market capitalization of $654.37 million, a price-to-earnings ratio of 10.00 and a beta of 0.84. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.49 and a quick ratio of 1.64. The business has a 50-day moving average of $297.23 and a 200 day moving average of $290.90. Hingham Institution for Savings has a 12 month low of $248.53 and a 12 month high of $337.99.

Hingham Institution for Savings (NASDAQ:HIFS) last issued its quarterly earnings results on Friday, July 17th. The savings and loans company reported $4.82 earnings per share (EPS) for the quarter. The company had revenue of $42.92 million for the quarter. Hingham Institution for Savings had a net margin of 25.94% and a return on equity of 8.22%.

Hingham Institution for Savings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, August 3rd were issued a $0.63 dividend. The ex-dividend date was Monday, August 3rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Hingham Institution for Savings’s payout ratio is 8.39%.

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.