BlackRock Inc. Takes $47.16 Million Position in Hingham Institution for Savings $HIFS

Key Points

• BlackRock acquired 153,549 shares of Hingham Institution for Savings in the second quarter, valued at approximately $47.16 million and representing 7.04% 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 a 25.94% net margin and 8.22% return on equity.
• The bank paid a quarterly dividend of $0.63 per share, equal to an annualized $2.52 and a 0.9% yield. Analyst coverage remains favorable, with the stock carrying a consensus “Buy” rating.

BlackRock Inc. acquired a new position in shares of Hingham Institution for Savings (NASDAQ:HIFS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 153,549 shares of the savings and loans company's stock, valued at approximately $47,163,000. BlackRock Inc. owned about 7.04% of Hingham Institution for Savings as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in shares of Hingham Institution for Savings by 46.3% during the first quarter. Parallel Advisors LLC now owns 139 shares of the savings and loans company's stock worth $40,000 after purchasing an additional 44 shares during the period. Fifth Third Bancorp acquired a new stake in Hingham Institution for Savings in the first quarter valued at $44,000. Comerica Bank bought a new position in Hingham Institution for Savings during the 4th quarter worth $43,000. Caitong International Asset Management Co. Ltd bought a new position in Hingham Institution for Savings during the 3rd quarter worth $41,000. Finally, Kestra Advisory Services LLC acquired a new position in Hingham Institution for Savings during the 4th quarter worth about $85,000. 49.33% of the stock is currently owned by institutional investors.

Hingham Institution for Savings Price Performance

Shares of HIFS opened at $288.27 on Tuesday. The firm has a market cap of $628.43 million, a PE ratio of 9.60 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 business's 50 day moving average price is $297.78 and its two-hundred day moving average price is $290.32. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.49 and a current ratio of 1.49.

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

Hingham Institution for Savings Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, August 3rd were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 3rd. Hingham Institution for Savings's dividend payout ratio is presently 8.39%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised 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 Hingham Institution for Savings from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Hingham Institution for Savings Company Profile

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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