7,363 Shares in Hingham Institution for Savings $HIFS Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 7,363 shares of Hingham Institution for Savings worth approximately $2.26 million, representing about 0.34% of the company. Institutional investors collectively own 49.33% of HIFS.
• HIFS reported quarterly earnings of $4.82 per share on $42.92 million in revenue, with an 8.22% return on equity and a 25.94% net margin.
• The bank paid a quarterly dividend of $0.63, equivalent to $2.52 annually and a 0.8% yield. Analyst sentiment remains positive, with the stock holding a consensus “Buy” rating.

Bank of New York Mellon Corp acquired a new position in Hingham Institution for Savings (NASDAQ:HIFS - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,363 shares of the savings and loans company's stock, valued at approximately $2,262,000. Bank of New York Mellon Corp owned approximately 0.34% of Hingham Institution for Savings at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maren Capital LLC increased its position in shares of Hingham Institution for Savings by 1.8% in the 4th quarter. Maren Capital LLC now owns 208,659 shares of the savings and loans company's stock worth $59,251,000 after purchasing an additional 3,726 shares during the last quarter. UBS Group AG grew its position in shares of Hingham Institution for Savings by 15.7% in the 3rd 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. Geode Capital Management LLC grew its position in shares of Hingham Institution for Savings by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 44,157 shares of the savings and loans company's stock worth $12,542,000 after acquiring an additional 1,113 shares in the last quarter. Two Sigma Investments LP increased 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 acquiring an additional 16,360 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of Hingham Institution for Savings by 0.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 24,842 shares of the savings and loans company's stock valued at $7,054,000 after acquiring an additional 105 shares during the last quarter. 49.33% of the stock is owned by hedge funds and other institutional investors.

Hingham Institution for Savings Stock Performance

NASDAQ:HIFS opened at $307.99 on Tuesday. The firm has a market capitalization of $671.42 million, a P/E ratio of 10.26 and a beta of 0.83. The business has a 50 day simple moving average of $297.53 and a 200 day simple moving average of $289.94. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.49 and a quick ratio of 1.49. Hingham Institution for Savings has a 12-month low of $248.53 and a 12-month high of $337.99.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) last issued its earnings results on Wednesday, August 5th. The savings and loans company reported $4.82 earnings per share for the quarter. The firm had revenue of $42.92 million for the quarter. Hingham Institution for Savings had a return on equity of 8.22% and a net margin of 25.94%.

Hingham Institution for Savings Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, August 3rd were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 3rd. Hingham Institution for Savings's dividend payout ratio (DPR) is 8.39%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Hingham Institution for Savings from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Hingham Institution for Savings from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Hingham Institution for Savings currently has a consensus rating of "Buy".

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.

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