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

Hingham Institution for Savings (NASDAQ:HIFS) released its earnings results on Friday. The savings and loans company reported $4.82 earnings per share (EPS) for the quarter, Zacks reports. Hingham Institution for Savings had a return on equity of 7.89% and a net margin of 21.17%.

Hingham Institution for Savings Stock Performance

Shares of HIFS stock traded down $6.86 on Friday, reaching $295.14. The stock had a trading volume of 56,144 shares, compared to its average volume of 47,254. Hingham Institution for Savings has a 12 month low of $235.17 and a 12 month high of $337.99. The firm has a market capitalization of $643.41 million, a price-to-earnings ratio of 12.94 and a beta of 0.83. The firm’s 50-day moving average is $288.07 and its two-hundred day moving average is $290.65. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.93.

Wall Street Analysts Forecast Growth

HIFS has been the subject of a number of analyst reports. Wall Street Zen upgraded Hingham Institution for Savings from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings upgraded Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Hingham Institution for Savings

A number of institutional investors have recently bought and sold shares of HIFS. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hingham Institution for Savings in the third quarter valued at approximately $41,000. Kestra Advisory Services LLC bought a new stake in Hingham Institution for Savings in the 4th quarter valued at $85,000. Balyasny Asset Management L.P. bought a new stake in Hingham Institution for Savings in the 4th quarter valued at $200,000. Inceptionr LLC acquired a new stake in Hingham Institution for Savings during the 3rd quarter valued at $202,000. Finally, Entropy Technologies LP bought a new position in Hingham Institution for Savings during the third quarter worth $211,000. 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.