Hingham Institution for Savings (NASDAQ:HIFS) Stock Bumped Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded Hingham Institution for Savings from “hold” to “buy.” Weiss Ratings also raised its rating, and MarketBeat reports a consensus “Buy” based on one analyst’s rating.
• The bank reported quarterly earnings of $5.37 per share on revenue of $25.37 million, with an 8.81% return on equity and a 24.95% net margin.
• Shares were reported down 1.8% and opened at $296.94; the stock’s 12-month trading range is $249.58 to $337.99.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Hingham Institution for Savings from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

Hingham Institution for Savings Trading Down 1.8%

NASDAQ:HIFS opened at $296.94 on Friday. Hingham Institution for Savings has a twelve month low of $249.58 and a twelve month high of $337.99. The company has a market cap of $647.33 million, a P/E ratio of 15.87 and a beta of 0.84. The business has a 50 day moving average price of $298.15 and a two-hundred day moving average price of $293.75. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.77.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) last announced its quarterly earnings data on Friday, October 16th. The savings and loans company reported $5.37 earnings per share (EPS) for the quarter. The firm had revenue of $25.37 million during the quarter. Hingham Institution for Savings had a return on equity of 8.81% and a net margin of 24.95%.

Hedge Funds Weigh In On Hingham Institution for Savings

A number of institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of Hingham Institution for Savings during the third quarter valued at $25,000. Farther Finance Advisors LLC grew its position in Hingham Institution for Savings by 46.9% during the third quarter. Farther Finance Advisors LLC now owns 119 shares of the savings and loans company's stock valued at $34,000 after buying an additional 38 shares during the period. Parallel Advisors LLC boosted its holdings in Hingham Institution for Savings by 39.2% in the third quarter. Parallel Advisors LLC now owns 135 shares of the savings and loans company's stock valued at $38,000 after purchasing an additional 38 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Hingham Institution for Savings during the second quarter worth about $42,000. Finally, Fifth Third Bancorp acquired a new position in shares of Hingham Institution for Savings during the first quarter valued at $44,000. Institutional investors and hedge funds own 49.33% of the company's stock.

About Hingham Institution for Savings

Hingham Institution for Savings is a community bank headquartered in Hingham, Massachusetts. Founded in 1834, the institution provides banking services to individuals, families, businesses and organizations in eastern Massachusetts, including the South Shore and Nantucket.

The bank offers deposit products such as checking, savings, money market and certificate of deposit accounts, along with online and traditional banking services. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, construction loans and other business loans.

Hingham Institution for Savings emphasizes relationship-based banking and locally focused lending.

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