A Venerable Institution
In light of the recent selloff in financials, investors would be well suited to consider shares of Hingham Institution for Savings (HIFS) for purchase and long-term holding. A high quality business that is rarely attractively priced, Hingham Institution for Savings enjoys strong “owner/operator” management, benefits from consumer monopoly effects as well as a differentiated asset base. All of these attributes coalesce into producing consistently superior returns for the business, reflected in the form of long-term book value growth and above average operating metrics. With shares trading at a modest premium