Corient Private Wealth LP Makes New Investment in Hingham Institution for Savings $HIFS

Key Points

• Corient Private Wealth LP acquired 3,406 HIFS shares worth approximately $1.05 million during the second quarter, joining other institutional investors that recently built positions. Institutional investors now own 49.33% of Hingham Institution for Savings.
• HIFS shares opened at $307.99, up 3.6%, with a market capitalization of about $671 million. The bank reported quarterly EPS of $4.82 on $42.92 million in revenue, with a 25.94% net margin.
• The company paid a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 dividend and a 0.8% yield. Analyst sentiment improved, with Weiss Ratings upgrading the stock to “buy” and Wall Street Zen moving it from “sell” to “hold.”

Corient Private Wealth LP bought a new stake in shares of Hingham Institution for Savings (NASDAQ:HIFS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,406 shares of the savings and loans company's stock, valued at approximately $1,046,000. Corient Private Wealth LP owned 0.16% of Hingham Institution for Savings as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIFS. BlackRock Inc. purchased a new stake in shares of Hingham Institution for Savings in the 2nd quarter worth about $47,163,000. De Lisle Partners LLP bought a new stake in Hingham Institution for Savings during the 2nd quarter valued at approximately $8,224,000. Two Sigma Investments LP boosted its position in Hingham Institution for Savings by 150.9% during 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 in the last quarter. Mission Wealth Management LP purchased a new position in shares of Hingham Institution for Savings during the 4th quarter worth approximately $4,222,000. Finally, Bessemer Group Inc. purchased a new position in shares of Hingham Institution for Savings during the 1st quarter worth approximately $4,002,000. Institutional investors own 49.33% of the company's stock.

Hingham Institution for Savings Stock Up 3.6%

Shares of Hingham Institution for Savings stock opened at $307.99 on Friday. The company has a 50-day simple moving average of $297.51 and a two-hundred day simple moving average of $290.16. The stock has a market capitalization of $671.42 million, a PE ratio of 10.26 and a beta of 0.83. Hingham Institution for Savings has a 52-week low of $248.53 and a 52-week high of $337.99. 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 posted its quarterly earnings results on Wednesday, August 5th. The savings and loans company reported $4.82 EPS 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, August 3rd were issued a $0.63 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Hingham Institution for Savings's dividend payout ratio (DPR) is presently 8.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented 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 Hingham Institution for Savings from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Hingham Institution for Savings has an average 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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