Hingham Institution for Savings (NASDAQ:HIFS) Stock Rating Cut to Hold at Wall Street Zen

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Hingham Institution for Savings in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

Hingham Institution for Savings Price Performance

Shares of Hingham Institution for Savings stock traded up $0.83 on Friday, hitting $301.45. 14,436 shares of the company were exchanged, compared to its average volume of 32,330. The stock has a market capitalization of $657.76 million, a price-to-earnings ratio of 10.81 and a beta of 0.84. The company has a 50-day moving average price of $299.43 and a 200 day moving average price of $293.69. Hingham Institution for Savings has a 1-year low of $249.58 and a 1-year high of $337.99. 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 posted its quarterly earnings results on Friday, October 16th. The savings and loans company reported $5.37 earnings per share (EPS) for the quarter. Hingham Institution for Savings had a return on equity of 8.81% and a net margin of 24.95%. The business had revenue of $25.37 million during the quarter.

Hedge Funds Weigh In On Hingham Institution for Savings

Several large investors have recently made changes to their positions in HIFS. Farther Finance Advisors LLC lifted its stake in Hingham Institution for Savings by 46.9% in the third quarter. Farther Finance Advisors LLC now owns 119 shares of the savings and loans company's stock worth $34,000 after acquiring an additional 38 shares during the last quarter. Parallel Advisors LLC grew its holdings in Hingham Institution for Savings by 39.2% during the 3rd quarter. Parallel Advisors LLC now owns 135 shares of the savings and loans company's stock worth $38,000 after acquiring an additional 38 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Hingham Institution for Savings by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 7,014 shares of the savings and loans company's stock worth $2,005,000 after acquiring an additional 51 shares in the last quarter. Royal Bank of Canada increased its position in shares of Hingham Institution for Savings by 11.2% in the 1st quarter. Royal Bank of Canada now owns 793 shares of the savings and loans company's stock valued at $226,000 after purchasing an additional 80 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Hingham Institution for Savings in the 3rd quarter valued at approximately $25,000. 49.33% of the stock is currently owned by institutional investors and hedge funds.

Hingham Institution for Savings Company Profile

Hingham Institution for Savings is a Massachusetts-chartered community bank headquartered in Hingham, Massachusetts. Founded in 1834, it provides banking services to individuals, businesses and organizations. The bank accepts deposits and offers residential mortgage, commercial real estate, construction and other business loans. Its operations are concentrated in eastern Massachusetts, including the Greater Boston area, with a presence in other selected markets. Hingham Institution for Savings is led by President and Chief Executive Officer Robert H. Gaughen Jr. The bank emphasizes relationship-based banking and lending alongside its deposit services.

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