Ong Kang Wei
Dividend growth investing, growth at reasonable price, long-term horizon

Hingham Institution For Savings: A Solid Community Bank With 35% Upside

The Hingham Institution for Savings (NASDAQ:HIFS), founded in 1834, is a bank operating in three counties in Massachusetts at the moment. But even at 179 years of age, the bank does not look like it is deteriorating at all. In fact, this solid community bank looks like a compelling buy opportunity, as I will detail in this article.

The Business

Hingham Institution for Savings provides various financial services to both individuals and small businesses in Massachusetts. The company's primary deposit products include saving accounts, checking, individual retirement accounts, as well as certificates of deposit and money market accounts.

On the other hand, its loan portfolio is comprised of residential real estate (48% of loan portfolio in 2012),...

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