Hingham Institution for Savings (NASDAQ:HIFS) Shares Break Above 200-Day Moving Average - Here's Why

Key Points

• Hingham Institution for Savings shares rose above their 200-day moving average of $292.15, reaching $293.60 before closing at $288.33 on volume of 38,290 shares.
• Analyst sentiment improved, with Wall Street Zen upgrading the stock to “hold” and Weiss Ratings raising its rating to “buy (b).” The stock has an overall “Buy” rating from the analysts tracked by MarketBeat.
• The bank reported quarterly EPS of $4.82 on $42.92 million in revenue, with a 25.94% net margin and 8.24% return on equity; institutional investors own 49.33% of shares.

Hingham Institution for Savings (NASDAQ:HIFS - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $292.15 and traded as high as $293.60. Hingham Institution for Savings shares last traded at $288.33, with a volume of 38,290 shares.

Wall Street Analysts Forecast Growth

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

Hingham Institution for Savings Price Performance

The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.77. The firm's fifty day moving average price is $299.57 and its two-hundred day moving average price is $292.15. The stock has a market capitalization of $628.56 million, a PE ratio of 9.60 and a beta of 0.87.

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 (EPS) for the quarter. Hingham Institution for Savings had a net margin of 25.94% and a return on equity of 8.24%. The company had revenue of $42.92 million for the quarter.

Hedge Funds Weigh In On Hingham Institution for Savings

A number of institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Hingham Institution for Savings by 46.9% in the third quarter. Farther Finance Advisors LLC now owns 119 shares of the savings and loans company's stock worth $34,000 after acquiring an additional 38 shares during the period. Parallel Advisors LLC lifted its holdings in Hingham Institution for Savings by 46.3% in the first quarter. Parallel Advisors LLC now owns 139 shares of the savings and loans company's stock valued at $40,000 after acquiring an additional 44 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Hingham Institution for Savings in the second quarter worth about $42,000. Fifth Third Bancorp bought a new stake in shares of Hingham Institution for Savings during the 1st quarter valued at about $44,000. Finally, Legal & General Group Plc bought a new stake in shares of Hingham Institution for Savings during the 2nd quarter valued at about $49,000. 49.33% of the stock is currently owned by hedge funds and other institutional investors.

About Hingham Institution for Savings

Hingham Institution for Savings is a Massachusetts-chartered savings bank headquartered in Hingham, Massachusetts. Founded in 1834, the bank has a long history of serving individuals, families, businesses and nonprofit organizations in southeastern Massachusetts and the greater Boston area.

Hingham Institution for Savings offers deposit products such as checking and savings accounts, certificates of deposit and retirement accounts, along with online and mobile banking services. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, construction loans and other commercial credit products.

The bank operates through branches and lending offices in communities including Hingham, Cohasset, Nantucket and other areas of Massachusetts.

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