Hingham Institution for Savings (NASDAQ:HIFS) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• HIFS crossed above its 200-day moving average, trading as high as $291.55 vs a 200-day MA of $290.10 and finishing the session up about 2.4% on volume of 32,310 shares.
• Weiss Ratings upgraded HIFS to a "buy" and the stock carries a consensus "Buy" rating; the bank trades at a PE of 12.78 with a market cap of $635.6M and reported Q earnings of $4.79 per share on $22.43M in revenue.
• HIFS declared a quarterly dividend of $0.63 (annualized $2.52), with an ex-dividend date of May 4, a yield of about 0.9% and a payout ratio near 11.05%.

Shares of Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $290.10 and traded as high as $291.55. Hingham Institution for Savings shares last traded at $291.55, with a volume of 32,310 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Hingham Institution for Savings from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Hingham Institution for Savings has a consensus rating of "Buy".

Hingham Institution for Savings Stock Up 2.4%

The company has a debt-to-equity ratio of 3.31, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a fifty day simple moving average of $287.58 and a 200-day simple moving average of $290.10. The company has a market capitalization of $635.58 million, a PE ratio of 12.78 and a beta of 0.94.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The savings and loans company reported $4.79 earnings per share (EPS) for the quarter. Hingham Institution for Savings had a return on equity of 8.06% and a net margin of 21.17%.The company had revenue of $22.43 million for the quarter.

Hingham Institution for Savings Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Monday, May 4th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, May 4th. Hingham Institution for Savings's payout ratio is 11.05%.

Institutional Investors Weigh In On Hingham Institution for Savings

Institutional investors have recently made changes to their positions in the company. Comerica Bank bought a new stake in shares of Hingham Institution for Savings in the 4th quarter valued at approximately $43,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hingham Institution for Savings in the 3rd quarter valued at approximately $41,000. Kestra Advisory Services LLC bought a new stake in shares of Hingham Institution for Savings in the 4th quarter valued at approximately $85,000. Flagship Harbor Advisors LLC bought a new stake in shares of Hingham Institution for Savings in the 4th quarter valued at approximately $102,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Hingham Institution for Savings in the 4th quarter valued at approximately $200,000. 49.33% of the stock is currently owned by institutional investors.

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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