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 (NASDAQ: HIFS) is a savings bank based in Hingham, Massachusetts, with a focus on residential and commercial real estate mortgage lending and related banking services. Incorporated in 1834 and describing itself as one of America’s oldest banks, Hingham Institution for Savings regularly issues detailed earnings releases and capital allocation updates that are closely followed by investors in the savings institutions and broader finance and insurance sector.
News about HIFS commonly covers quarterly and annual financial results, including net income, core net income, returns on average assets and equity, net interest margin, efficiency ratio, and asset quality metrics. The Bank provides narrative commentary on how interest rate conditions and the yield curve affect its net interest margin, funding costs, and loan yields, along with discussion of its balance sheet composition and funding mix between retail and commercial deposits and wholesale funds.
Another recurring theme in HIFS news is capital allocation. The Bank announces regular quarterly dividends and, in many years, special cash dividends, explaining how it weighs dividends, organic loan growth, investments, and potential share repurchases. It has also announced a share repurchase program authorizing the repurchase of a specified amount of common stock, with flexibility in execution methods and timing.
Operational updates in HIFS news include information on loan origination activity in markets such as Boston and Washington, D.C., the development of opportunities in San Francisco, and the growth of its Specialized Deposit Group targeting commercial and non-profit customers. For readers tracking HIFS, this news feed offers a centralized view of earnings trends, credit quality, deposit and funding strategies, and Board decisions on dividends and share repurchases.
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.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ:HIFS) has declared a quarterly cash dividend of $0.47 per share, marking a 4% increase from the previous $0.45. The dividend will be paid on January 13, 2021 to stockholders of record as of January 4, 2021. Additionally, a special dividend of $0.70 per share will also be paid on the same date. This marks the 108th consecutive quarterly dividend for the Bank, with regular increases seen over the last twenty-five years and special dividends declared in each of the last twenty-six years.
HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS) reported robust third-quarter results for 2020. Net income surged to $15.21 million ($7.12 per share) from $9.03 million ($4.23 per share) year-over-year. The annualized return on average equity increased to 22.23%, up from 15.33% in 2019, while core net income rose 41% to $12.39 million. Total assets reached $2.72 billion, a 10% increase from the previous year. The bank's net interest margin improved to 3.46%, along with a notable 37% growth in non-interest bearing deposits. These figures reflect strong operational performance amid economic uncertainties.
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