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Hingham Institution For Savings - HIFS STOCK NEWS

Welcome to our dedicated news page for Hingham Institution For Savings (Ticker: HIFS), a resource for investors and traders seeking the latest updates and insights on Hingham Institution For Savings.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Hingham Institution For Savings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Hingham Institution For Savings's position in the market.

Rhea-AI Summary
Hingham Savings, trading as HIFS on NASDAQ, reported first-quarter 2024 results with net income of $6,868,000, a decrease of 19% from the same period in 2023. Core net income also decreased by 61% to $2,213,000. Total assets increased to $4.529 billion, with net loans at $3.938 billion. Retail and business deposits grew by 7% annually, while non-interest-bearing deposits declined by 8%. The Bank continues to focus on developing deposit relationships and recruiting new talent. The net interest margin decreased to 0.85%, with key credit metrics remaining strong. Chairman Robert H. Gaughen Jr. acknowledged the challenges posed by short-term interest rate increases and an inverted yield curve, expressing cautious optimism for the future.
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Hingham Institution for Savings (HIFS) announced its earnings for the fourth quarter and the year ended December 31, 2023. Net income for the year decreased by 29% compared to the same period in 2022, with core net income decreasing by 73%. Total assets and net loans increased by 7%, while retail and business deposits declined by 2%. The Bank's net interest margin decreased significantly, and the efficiency ratio increased to 57.18% in 2023.
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Hingham Institution for Savings (NASDAQ:HIFS) Declares Quarterly Cash Dividend of $0.63 per Share, Announces No Special Dividend for 2023. The bank's Board of Directors has approved a regular quarterly cash dividend of $0.63 per share, to be paid on January 10, 2024. The decision was made considering the challenging market environment, with lower returns on equity and assets due to the increase in short-term interest rates and the inversion of the yield curve. The Bank has also decided not to declare a special dividend for 2023, as it believes that reinvestment of incremental capital to support lending at attractive pricing is warranted.
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Hingham Institution for Savings announces Q3 2023 results
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Hingham Institution for Savings (NASDAQ: HIFS) announced its Q2 2023 results, reporting net income of $8,248,000 or $3.84 per share basic and $3.76 per share diluted. The Bank's annualized return on average equity for Q2 2023 was 8.27%, and the annualized return on average assets was 0.80%. Net income per share (diluted) for Q2 2023 increased by 159% compared to the same period in 2022. Total assets were $4.311 billion at June 30, 2023, representing 6% annualized growth year-to-date and 8% growth from June 30, 2022.
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Hingham Institution For Savings

Nasdaq:HIFS

HIFS Rankings

HIFS Stock Data

358.46M
1.57M
50.5%
7.96%
Savings Institutions
Finance and Insurance
Link
US
Hingham