Hingham Institution for Savings (NASDAQ:HIFS) Hits New 12-Month High – Should You Buy?

Hingham Institution for Savings (NASDAQ:HIFS)’s share price hit a new 52-week high on Wednesday . The company traded as high as $330.94 and last traded at $322.29, with a volume of 11531 shares changing hands. The stock had previously closed at $316.09.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hingham Institution for Savings in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Hingham Institution for Savings has an average rating of “Hold”.

Hingham Institution for Savings Stock Up 3.4%

The firm’s 50-day simple moving average is $293.90 and its 200 day simple moving average is $280.11. The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $712.70 million, a P/E ratio of 13.20 and a beta of 1.02.

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

Hingham Institution for Savings Dividend Announcement

The company also recently declared a special dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, January 5th were given a $0.70 dividend. This represents a dividend yield of 85.0%. The ex-dividend date was Monday, January 5th. Hingham Institution for Savings’s dividend payout ratio (DPR) is currently 10.18%.

Hingham Institution for Savings announced that its Board of Directors has authorized a share repurchase plan on Friday, December 5th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the savings and loans company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Hingham Institution for Savings

Several large investors have recently bought and sold shares of HIFS. Two Sigma Investments LP grew its holdings in shares of 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 valued at $7,175,000 after buying an additional 16,360 shares during the period. Bank of America Corp DE grew its stake in Hingham Institution for Savings by 337.2% in the third quarter. Bank of America Corp DE now owns 13,856 shares of the savings and loans company’s stock valued at $3,655,000 after acquiring an additional 10,687 shares during the period. UBS Group AG increased its holdings in shares of Hingham Institution for Savings by 15.7% in the third quarter. UBS Group AG now owns 69,998 shares of the savings and loans company’s stock worth $18,464,000 after acquiring an additional 9,493 shares in the last quarter. Millennium Management LLC raised its position in shares of Hingham Institution for Savings by 230.8% during the third quarter. Millennium Management LLC now owns 12,645 shares of the savings and loans company’s stock worth $3,335,000 after purchasing an additional 8,823 shares during the period. Finally, Maren Capital LLC raised its position in shares of Hingham Institution for Savings by 4.6% during the second quarter. Maren Capital LLC now owns 200,131 shares of the savings and loans company’s stock worth $49,702,000 after purchasing an additional 8,736 shares during the period. Institutional investors 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.