Hingham Institution for Savings (NASDAQ:HIFS) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Hingham Institution for Savings (NASDAQ:HIFS) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $288.15 and traded as low as $273.59. Hingham Institution for Savings shares last traded at $275.37, with a volume of 59,832 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Hingham Institution for Savings from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Hingham Institution for Savings Stock Down 0.7%

The firm’s fifty day simple moving average is $295.34 and its 200-day simple moving average is $288.15. The company has a market cap of $600.31 million, a PE ratio of 11.12 and a beta of 1.02. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.31.

Hingham Institution for Savings (NASDAQ:HIFS) last issued its quarterly earnings data on Friday, January 16th. The savings and loans company reported $4.54 earnings per share for the quarter. Hingham Institution for Savings had a net margin of 23.04% and a return on equity of 7.16%. The business had revenue of $35.02 million during the quarter.

Hingham Institution for Savings announced that its Board of Directors has approved a share repurchase plan on Friday, December 5th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the savings and loans company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Hingham Institution for Savings

A number of institutional investors have recently made changes to their positions in HIFS. Liontrust Investment Partners LLP acquired a new stake in shares of Hingham Institution for Savings during the third quarter valued at $2,009,000. Aptus Capital Advisors LLC increased its position in Hingham Institution for Savings by 14.9% during the 3rd quarter. Aptus Capital Advisors LLC now owns 24,737 shares of the savings and loans company’s stock worth $6,525,000 after purchasing an additional 3,217 shares in the last quarter. De Lisle Partners LLP raised its stake in Hingham Institution for Savings by 5.3% in the 2nd quarter. De Lisle Partners LLP now owns 27,259 shares of the savings and loans company’s stock valued at $6,780,000 after purchasing an additional 1,360 shares during the last quarter. Quantbot Technologies LP raised its stake in Hingham Institution for Savings by 263.0% in the 2nd quarter. Quantbot Technologies LP now owns 6,105 shares of the savings and loans company’s stock valued at $1,516,000 after purchasing an additional 4,423 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in Hingham Institution for Savings by 112.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 6,035 shares of the savings and loans company’s stock valued at $1,592,000 after purchasing an additional 3,199 shares in the last quarter. 49.33% of the stock is owned by institutional investors and hedge funds.

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.