Bank of America Corp DE boosted its holdings in shares of Hingham Institution for Savings (NASDAQ:HIFS - Free Report) by 88.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,656 shares of the savings and loans company's stock after acquiring an additional 5,954 shares during the period. Bank of America Corp DE owned about 0.58% of Hingham Institution for Savings worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HIFS. Parallel Advisors LLC raised its holdings in shares of Hingham Institution for Savings by 46.3% in the 1st quarter. Parallel Advisors LLC now owns 139 shares of the savings and loans company's stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hingham Institution for Savings by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 7,014 shares of the savings and loans company's stock valued at $2,005,000 after purchasing an additional 51 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Hingham Institution for Savings by 33.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 206 shares of the savings and loans company's stock valued at $58,000 after buying an additional 52 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hingham Institution for Savings by 8.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961 shares of the savings and loans company's stock valued at $229,000 after buying an additional 75 shares during the period. Finally, Royal Bank of Canada raised its stake in Hingham Institution for Savings by 11.2% in the first quarter. Royal Bank of Canada now owns 793 shares of the savings and loans company's stock worth $226,000 after buying an additional 80 shares in the last quarter. 49.33% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
HIFS has been the topic of several analyst reports. 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 raised Hingham Institution for Savings from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy".
Read Our Latest Stock Analysis on HIFS
Hingham Institution for Savings Stock Down 0.8%
Shares of HIFS opened at $295.67 on Friday. The company has a market capitalization of $644.56 million, a price-to-earnings ratio of 9.85 and a beta of 0.84. Hingham Institution for Savings has a 52 week low of $248.53 and a 52 week high of $337.99. The stock's 50-day moving average price is $297.73 and its 200-day moving average price is $290.69. The company has a quick ratio of 1.64, 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 results on Wednesday, August 5th. The savings and loans company reported $4.82 earnings per share (EPS) for the quarter. Hingham Institution for Savings had a return on equity of 8.22% and a net margin of 25.94%.The company had revenue of $42.92 million during the quarter.
Hingham Institution for Savings Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, August 3rd were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, August 3rd. Hingham Institution for Savings's payout ratio is currently 8.39%.
About Hingham Institution for Savings
(
Free Report)
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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