Hingham Institution for Savings (NASDAQ:HIFS) Announces Earnings Results

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

Hingham Institution for Savings Stock Performance

Shares of Hingham Institution for Savings stock traded up $6.84 on Friday, reaching $307.64. 82,704 shares of the company were exchanged, compared to its average volume of 62,132. The company’s 50-day moving average is $290.69 and its two-hundred day moving average is $289.33. Hingham Institution for Savings has a 1-year low of $220.76 and a 1-year high of $337.99. The firm has a market cap of $671.27 million, a price-to-earnings ratio of 12.42 and a beta of 0.94. The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.57 and a current ratio of 1.57.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIFS. AQR Capital Management LLC boosted its stake in Hingham Institution for Savings by 54.3% in the 1st quarter. AQR Capital Management LLC now owns 1,634 shares of the savings and loans company’s stock worth $389,000 after purchasing an additional 575 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Hingham Institution for Savings by 8.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961 shares of the savings and loans company’s stock valued at $229,000 after buying an additional 75 shares during the period. Jane Street Group LLC acquired a new stake in shares of Hingham Institution for Savings in the 1st quarter valued at $952,000. JPMorgan Chase & Co. lifted its stake in shares of Hingham Institution for Savings by 23.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,358 shares of the savings and loans company’s stock valued at $337,000 after purchasing an additional 258 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Hingham Institution for Savings by 78.3% in the 2nd quarter. Sei Investments Co. now owns 1,594 shares of the savings and loans company’s stock valued at $396,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 49.33% of the company’s stock.

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.