Wallace Capital Management Inc. acquired a new stake in shares of Hingham Institution for Savings (NASDAQ:HIFS – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the savings and loans company’s stock, valued at approximately $614,000. Wallace Capital Management Inc. owned approximately 0.09% of Hingham Institution for Savings as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of HIFS. Hsbc Holdings PLC purchased a new stake in shares of Hingham Institution for Savings during the second quarter worth about $422,000. Canada Pension Plan Investment Board purchased a new position in Hingham Institution for Savings in the 2nd quarter valued at about $209,000. Legal & General Group Plc purchased a new position in Hingham Institution for Savings in the 2nd quarter valued at about $49,000. Quantbot Technologies LP purchased a new position in Hingham Institution for Savings in the 2nd quarter valued at about $722,000. Finally, De Lisle Partners LLP acquired a new stake in Hingham Institution for Savings in the 2nd quarter worth about $8,224,000. Institutional investors and hedge funds own 49.33% of the company’s stock.
Wall Street Analysts Forecast Growth
HIFS has been the subject of several research reports. Weiss Ratings upgraded Hingham Institution for Savings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Hingham Institution for Savings from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.
Hingham Institution for Savings Stock Performance
Hingham Institution for Savings stock opened at $300.17 on Thursday. The firm has a 50 day simple moving average of $297.23 and a 200-day simple moving average of $290.90. The stock has a market cap 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. Hingham Institution for Savings has a 1-year low of $248.53 and a 1-year high of $337.99.
Hingham Institution for Savings (NASDAQ:HIFS – Get Free Report) last released its quarterly earnings results on Friday, July 17th. The savings and loans company reported $4.82 EPS for the quarter. Hingham Institution for Savings had a net margin of 25.94% and a return on equity of 8.22%. The firm had revenue of $42.92 million for the quarter.
Hingham Institution for Savings Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, August 3rd were given a $0.63 dividend. The ex-dividend date was Monday, August 3rd. This represents a $2.52 dividend on an annualized basis and a yield of 0.8%. Hingham Institution for Savings’s payout ratio is currently 8.39%.
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.
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