Hingham Institution for Savings Stock Rises on Higher 2Q Profit, Revenue

Dow Jones
Jul 12
 

By Kelly Cloonan

 

Shares of Hingham Institution for Savings climbed after the company logged higher profit and revenue in the second quarter.

The stock rose 7.9% to $295.01 in after-hours trading on Friday. Shares have risen 39% in the past 12 months through market close.

The company on Friday posted a profit of $9.4 million, or $4.28 a share, compared with $4.1 million, or $1.88 a share, a year earlier.

Core net income, which excludes the after-tax net gain on equity securities, was $3.39 per share.

Revenue rose to $18.3 million compared with $10.6 million a year ago.

Net interest income increased to $18 million from $10.4 million. Net interest margin was 1.7%, up 16 basis points from the prior quarter.

Chief Executive Robert Gaughen Jr. said returns on equity and assets remained lower than the company's long-term expectations, but have recovered significantly.

 

Write to Kelly Cloonan at kelly.cloonan@wsj.com

 

(END) Dow Jones Newswires

July 11, 2025 17:38 ET (21:38 GMT)

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