Welcome to our dedicated page for Hingham Inst news (Ticker: HIFS), a resource for investors and traders seeking the latest updates and insights on Hingham Inst stock.
Hingham Institution for Savings reports developments for a Massachusetts-chartered savings bank focused on commercial and residential real estate mortgage lending and deposit relationships. News commonly covers quarterly and annual earnings, loan origination activity, retail and commercial deposits, wholesale funding, credit metrics, book value, and the bank’s balance-sheet position.
Company updates also address capital allocation through regular and special dividends and potential share repurchases, as well as the bank’s participation in the Massachusetts Depositors Insurance Fund. Hingham’s public commentary may discuss real estate collateral, commercial real estate credit, and interpretations of its securities filings.
Hingham Institution for Savings (NASDAQ: HIFS) reported a net income of $3.19 million, or $1.49 per share, for Q2 2022, a drastic decline from $20.42 million, or $9.54 per share, in Q2 2021. Core net income rose by 11% to $15.26 million, or $6.93 per share. Total assets reached $3.996 billion, up 33% year-to-date. The Bank's annualized return on average equity fell to 3.43%, while net interest margin decreased to 3.21%. The Board declared a quarterly dividend of $0.59 per share, marking the 114th consecutive dividend. HIFS aims for disciplined growth amid interest margin pressures.
Hingham Institution for Savings (HIFS) reported Q1 2022 net income of $11.86 million ($5.54 per share), down 27% YoY from $16.35 million ($7.65 per share). Core net income rose 10% to $15.11 million ($6.85 diluted), exceeding last year's $13.73 million. Total assets grew 25% year-to-date to $3.65 billion, with net loans increasing 24% to $3.18 billion. The net interest margin decreased to 3.30%. The bank declared a quarterly dividend of $0.57, marking its 113th consecutive payout. Annualized return on average equity is now 13.10%, down from 21.72% last year.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported strong financial results for the fourth quarter and year ended December 31, 2021. Net income rose to $67.46 million ($31.50 per share) from $50.77 million ($23.76 per share) in 2020. The return on average equity improved to 20.62%, and total assets grew by 20% to $3.43 billion. Core net income also increased 26% year-over-year. Despite a quarterly decline in net income, increased dividends and robust loan growth in commercial real estate indicate positive business momentum.
Hingham Institution for Savings (NASDAQ: HIFS) announced the passing of former Director and Clerk, Marion Fahey, who died at the age of 97. Fahey served as a Director from 1992 to 2015, playing a key role in maintaining the bank's independence and benefiting its community. She also held significant positions at East Weymouth Savings Bank and served as Superintendent of Schools for the City of Boston, contributing to the desegregation of its public school system. Her guidance impacted three generations of the Gaughen family at Hingham.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) has declared a regular quarterly cash dividend of $0.55 per share, marking a 4% increase from the prior dividend of $0.53. Additionally, a special dividend of $0.75 per share will also be paid. Both dividends are scheduled for January 12, 2022, to stockholders of record as of January 3, 2022. This represents the Bank's 112th consecutive quarterly dividend, maintaining a tradition of increasing dividends over the past 26 years and declaring special dividends for 27 years.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported its third-quarter earnings for 2021, revealing a net income of $14 million, or $6.54 per share diluted, a decrease from $15.2 million and $6.96 per share diluted in Q3 2020. Core net income rose by 12% to $14 million, with diluted earnings increasing 30% over the past nine months. The bank's total assets grew to $3.165 billion, while deposits increased by 17%. The dividend per share rose by 4% to $0.53, marking its 111th consecutive quarterly dividend. However, annualized returns on equity and assets fell compared to 2020.
Hingham Institution for Savings (NASDAQ: HIFS) reported strong financial results for Q2 2021. Net income reached $20.42 million, a 25.7% increase from Q2 2020, translating to $9.54 per share. Year-to-date net income rose 97% to $36.77 million. The bank's net interest margin improved to 3.46%, and total assets increased by 8% to $2.974 billion, with net loans growing 11% to $2.63 billion. The efficiency ratio improved to 21.37%, reflecting expense management. A regular cash dividend of $0.51 per share was declared, marking the 110th consecutive quarterly dividend.
Hingham Institution for Savings (NASDAQ: HIFS) reported significant growth for Q1 2021, posting a net income of $16.35 million, or $7.65 per share, compared to $2.19 million, or $1.02 per share, in Q1 2020. The annualized return on average equity was 21.72%, a rise from 3.46% year-over-year. Core net income also rose by 61% to $13.73 million. Total assets decreased by 2% YTD to $2.84 billion, but net loans grew by 2% and total deposits surged by 25%. The bank continues to manage its funding mix effectively, achieving a net interest margin of 3.54%. Additionally, it declared a 4% increase in its regular quarterly dividend.
Hingham Institution for Savings (NASDAQ:HIFS) has declared a quarterly cash dividend of $0.49 per share, marking a 4% increase from the previous dividend of $0.47. The dividend will be paid on April 21, 2021 to stockholders of record by April 12, 2021. This is the 109th consecutive quarterly dividend, with regular increments observed over the last 26 years. The Bank evaluates capital allocation options regularly, indicating potential for special dividends based on capital requirements.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported strong earnings for 2020, with net income of $50.77 million ($23.25 per diluted share), up from $38.93 million ($17.83 per diluted share) in 2019. Core net income also increased to $44.6 million ($20.43 per diluted share), a 35% rise. The bank achieved a return on average equity of 18.96% and a net interest margin of 3.22%. Total assets grew by 10% to $2.86 billion, while total deposits surged 17% to $2.14 billion. The efficiency ratio improved to 25.41%, indicating better cost management.