Buy Or Sell Opportunity • May 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.9% to €47.50. The fair value is estimated to be €59.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has grown by 13%. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: €0.91 (vs €0.95 in 1Q 2025) First quarter 2026 results: EPS: €0.91 (down from €0.95 in 1Q 2025). Revenue: €56.6m (flat on 1Q 2025). Net income: €14.1m (down 3.4% from 1Q 2025). Profit margin: 25% (down from 26% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Buy Or Sell Opportunity • Apr 13
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €49.00. The fair value is estimated to be €62.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 15%. Board Change • Apr 02
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Mirel Leino-Haltia was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 26
Ålandsbanken Abp Announces Board Member, Anders Å. Karlsson Declines Re-Election Ålandsbanken Abp announced that Board member, Anders Å. Karlsson has declined re-election. Reported Earnings • Feb 05
Full year 2025 earnings released: EPS: €3.55 (vs €3.41 in FY 2024) Full year 2025 results: EPS: €3.55 (up from €3.41 in FY 2024). Revenue: €218.9m (up 3.1% from FY 2024). Net income: €54.6m (up 4.5% from FY 2024). Profit margin: 25% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Feb 05
Ålandsbanken Abp Proposes Dividend for the Financial Year 2025; Provides Dividend Policy Changes Ålandsbanken Abp proposed a dividend of EUR 2.75 (2.75) per share for the 2025 financial year. Furthermore, the Board of Directors intends to propose a semi-annual dividend from financial year 2026 onwards, corresponding to a maximum of 50% of the profit for the first six months of the financial year. Buy Or Sell Opportunity • Oct 29
Now 20% undervalued Over the last 90 days, the stock has risen 16% to €48.20. The fair value is estimated to be €60.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 18%. Announcement • Oct 26
Ålandsbanken Abp to Report Nine Months, 2026 Results on Oct 23, 2026 Ålandsbanken Abp announced that they will report nine months, 2026 results on Oct 23, 2026 Reported Earnings • Oct 26
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €52.2m (flat on 3Q 2024). Net income: €13.1m (down 4.4% from 3Q 2024). Profit margin: 25% (down from 26% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
Bank of Åland plc Announces Changes in the Group Executive Team Bank of Åland Plc announced changes in the Group Executive Team. Anne-Maria Salonius, Head of Finland Business Area, has successfully led the business area and served as a member of the Group Executive Team since 2010. Due to a prolonged sick leave caused by a serious illness, Anne-Maria has now decided to step down from her role as Head of Finland Business Area and simultaneously leave the Group Executive Team. Anne-Maria will continue to be responsible for Bank of Åland’s Baltic Sea Project, which she co-initiated in 2014. The Baltic Sea Project is a strategically important part of the Bank’s climate efforts, and in her new role, she will report directly to the Chief Executive Officer. Pasi Poikkeus (aged 49) has been appointed as the new permanent Head of Finland Business Area. Pasi has served as acting head during Anne-Maria’s sick leave and has extensive experience in the financial sector, where he has been active since 2000. He joined Bank of Åland in 2023 and will now also become a permanent member of the Group Executive Team. Sebastian Schmidt (aged 49) has been appointed as a new member of Bank of Åland’s Group Executive Team in connection with his appointment as Head of Sweden Business Area. He has also been appointed by the Board of Directors as Chief Executive Officer of Bank of Åland’s Swedish branch. Sebastian has worked at Bank of Åland since 2009 and currently serves as Acting Head of Sweden Business Area and Acting CEO of the Swedish branch. Announcement • Sep 18
Bank of Åland plc Announces executive Changes Changes for Bank of Åland’S Swedish Branch Bank of Åland and Magnus Johansson, CEO of the Bank of Åland’s Swedish branch and member of the Group Executive Team, have jointly agreed that Johansson will step down from his position. The decision takes effect immediately. Sebastian Schmidt has been appointed Acting CEO of the Bank of Åland’s Swedish branch. Schmidt has been with the Bank of Åland since the start of its Swedish operations in 2009, with a focus on Private Banking as well as business and concept development. His long experience and deep understanding of both clients and the organisation make him well equipped to lead the branch for the time being. Buy Or Sell Opportunity • Jul 23
Now 20% undervalued Over the last 90 days, the stock has risen 7.0% to €41.40. The fair value is estimated to be €51.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 18%. Reported Earnings • Jul 20
Second quarter 2025 earnings released: EPS: €0.90 (vs €0.82 in 2Q 2024) Second quarter 2025 results: EPS: €0.90 (up from €0.82 in 2Q 2024). Revenue: €55.1m (up 1.7% from 2Q 2024). Net income: €13.9m (up 10% from 2Q 2024). Profit margin: 25% (up from 23% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: €0.95 (vs €0.89 in 1Q 2024) First quarter 2025 results: EPS: €0.95 (up from €0.89 in 1Q 2024). Revenue: €56.1m (up 4.9% from 1Q 2024). Net income: €14.6m (up 7.4% from 1Q 2024). Profit margin: 26% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €35.10, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 21% over the past three years. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Director Malin Lombardi was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Mar 31
Now 20% undervalued Over the last 90 days, the stock has risen 2.0% to €35.70. The fair value is estimated to be €44.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 16%. Upcoming Dividend • Mar 19
Upcoming dividend of €2.75 per share Eligible shareholders must have bought the stock before 26 March 2025. Payment date: 03 April 2025. Payout ratio is a comfortable 70% but the company is paying out more than the cash it is generating. Trailing yield: 6.6%. Within top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (5.6%). Declared Dividend • Mar 02
Dividend of €2.75 announced Shareholders will receive a dividend of €2.75. Ex-date: 26th March 2025 Payment date: 3rd April 2025 Dividend yield will be 6.9%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 34% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 28
Ålandsbanken Abp announces Annual dividend, payable on April 03, 2025 Ålandsbanken Abp announced Annual dividend of EUR 2.4000 per share payable on April 03, 2025, ex-date on March 26, 2025 and record date on March 27, 2025. Reported Earnings • Feb 06
Full year 2024 earnings released: EPS: €3.41 (vs €3.18 in FY 2023) Full year 2024 results: EPS: €3.41 (up from €3.18 in FY 2023). Revenue: €212.4m (up 6.1% from FY 2023). Net income: €52.3m (up 7.5% from FY 2023). Profit margin: 25% (in line with FY 2023). Net interest margin (NIM): 2.07% (up from 1.77% in FY 2023). Cost-to-income ratio: 68.0% (no change from 68.0% in FY 2023). Non-performing loans: 1.63% (up from 1.61% in FY 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
Ålandsbanken Abp, Annual General Meeting, Mar 25, 2025 Ålandsbanken Abp, Annual General Meeting, Mar 25, 2025. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: €0.89 (vs €0.99 in 3Q 2023) Third quarter 2024 results: EPS: €0.89 (down from €0.99 in 3Q 2023). Revenue: €52.2m (up 3.4% from 3Q 2023). Net income: €13.7m (down 9.3% from 3Q 2023). Profit margin: 26% (down from 30% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 21
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €54.3m (up 11% from 2Q 2023). Net income: €12.6m (up 12% from 2Q 2023). Profit margin: 23% (in line with 2Q 2023). Announcement • Apr 27
Bank of Åland plc Provides Earnings Guidance for the Full Year 2024 Bank of Åland Plc provided earnings guidance for the full year 2024. for the year, the company expects its net operating profit in 2024 to be about the same as in 2023. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: €0.89 (vs €0.41 in 1Q 2023) First quarter 2024 results: EPS: €0.89 (up from €0.41 in 1Q 2023). Revenue: €53.3m (up 18% from 1Q 2023). Net income: €13.6m (up 119% from 1Q 2023). Profit margin: 26% (up from 14% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Announcement • Mar 26
Ålandsbanken Abp Elects Malin Lombardi as Board Member Ålandsbanken Abp at the Annual General Meeting held on March 26, 2024, the AGM unanimously elected Malin Lombardi as a new Board member. The term of office of Board members covers the period until the end of the next AGM. Upcoming Dividend • Mar 20
Upcoming dividend of €2.65 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 08 April 2024. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 7.0%. Within top quartile of Finnish dividend payers (5.8%). In line with average of industry peers (6.6%). Declared Dividend • Feb 28
Dividend increased to €2.65 Dividend of €2.65 is 29% higher than last year. Ex-date: 27th March 2024 Payment date: 8th April 2024 Dividend yield will be 7.3%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 33% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: €3.18 (vs €2.37 in FY 2022) Full year 2023 results: EPS: €3.18 (up from €2.37 in FY 2022). Revenue: €200.1m (up 13% from FY 2022). Net income: €48.7m (up 32% from FY 2022). Profit margin: 24% (up from 21% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.77% (up from 1.12% in FY 2022). Cost-to-income ratio: 68.0% (down from 72.0% in FY 2022). Non-performing loans: 1.61% (no change from 1.61% in FY 2022). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Feb 05
Full year 2023 earnings released: EPS: €3.19 (vs €2.37 in FY 2022) Full year 2023 results: EPS: €3.19 (up from €2.37 in FY 2022). Revenue: €200.2m (up 13% from FY 2022). Net income: €48.7m (up 32% from FY 2022). Profit margin: 24% (up from 21% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 25
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €50.6m (up 22% from 3Q 2022). Net income: €15.1m (up 70% from 3Q 2022). Profit margin: 30% (up from 21% in 3Q 2022). The increase in margin was driven by higher revenue. Announcement • Jul 22
Ålandsbanken Abp Provides Earnings Guidance for the Year 2023 Ålandsbanken Abp provided earnings guidance for the year 2023. The Bank of Åland expects its net operating profit in 2023 to be significantly better than in 2022. Reported Earnings • Jul 20
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €49.1m (up 16% from 2Q 2022). Net income: €11.3m (up 36% from 2Q 2022). Profit margin: 23% (up from 20% in 2Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • Apr 28
First quarter 2023 earnings released First quarter 2023 results: Revenue: €45.0m (down 8.9% from 1Q 2022). Net income: €6.20m (down 44% from 1Q 2022). Profit margin: 14% (down from 22% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of €2.05 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 April 2023. Payout ratio is a comfortable 68% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Finnish dividend payers (5.1%). Lower than average of industry peers (6.1%). Reported Earnings • Feb 02
Full year 2022 earnings released: EPS: €2.37 (vs €2.56 in FY 2021) Full year 2022 results: EPS: €2.37 (down from €2.56 in FY 2021). Revenue: €177.9m (up 4.0% from FY 2021). Net income: €36.8m (down 7.7% from FY 2021). Profit margin: 21% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Director Mirel Leino-Haltia was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 26
Third quarter 2022 earnings released Third quarter 2022 results: Net income: €8.90m (down 26% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Sep 06
Now 20% undervalued Over the last 90 days, the stock is up 2.0%. The fair value is estimated to be €38.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. Reported Earnings • Jul 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €42.1m (down 1.6% from 2Q 2021). Net income: €8.30m (down 26% from 2Q 2021). Profit margin: 20% (down from 26% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 24% per year. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Director Mirel Leino-Haltia was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 24
Upcoming dividend of €2.00 per share Eligible shareholders must have bought the stock before 31 March 2022. Payment date: 08 April 2022. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Finnish dividend payers (4.3%). Lower than average of industry peers (5.9%). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 18% share price gain to €36.80, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 171% over the past three years. Announcement • Feb 11
Ålandsbanken Abp (HLSE:ALBAV) commences an Equity Buyback Plan for 1,500,000 shares, representing 9.61% of its issued share capital, under the authorization approved on March 30, 2021. Ålandsbanken Abp (HLSE:ALBAV) commences share repurchases on February 9, 2022, under the program mandated by the shareholders in the Annual General Meeting held on March 30, 2021. As per the mandate, the company is authorized to repurchase up to 1,500,000 Series B shares, representing 9.61% of its total issued share capital. The shares may be acquired using unrestricted equity capital at the price established in public trading on the Nasdaq Helsinki Oy (Helsinki Stock Exchange) on the day of the acquisition. The repurchased shares will be used to change the company’s capital structure, to be used as consideration in acquisitions of companies or sectoral reorganizations or as part of the company’s incentive programs and may otherwise be transferred onward, be kept by the company or be annulled. As of March 5, 2021, the company had 15,602,303 shares of which 6,476,138 were Series A shares and 9,126,165 were Series B shares.
On November 9, 2021, the company announced a share repurchased program after receiving approval from Financial Supervisory Authority (FIN-FSA). Under the program, the company will repurchase 375,000 Series B shares, representing 2.4% of its total issued shares for €10.5 million. The shares will be acquired using unrestricted equity capital. The repurchased shares are to be used as consideration in acquisitions of companies or sectoral reorganizations or as part of the incentive program and may otherwise be transferred onward or kept by the company. The acquisition of shares will begin at the earliest on November 9, 2021, and will end at the latest on March 30, 2022. Reported Earnings • Feb 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €2.55 (up from €2.02 in FY 2020). Revenue: €171.0m (up 18% from FY 2020). Net income: €39.8m (up 26% from FY 2020). Profit margin: 23% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 27
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €44.4m (up 25% from 3Q 2020). Net income: €12.1m (up 42% from 3Q 2020). Profit margin: 27% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 21
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €42.7m (up 25% from 2Q 2020). Net income: €11.2m (up 44% from 2Q 2020). Profit margin: 26% (up from 23% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 29
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €41.3m (up 22% from 1Q 2020). Net income: €8.60m (up 59% from 1Q 2020). Profit margin: 21% (up from 16% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 27
Ålandsbanken Abp Announces Earnings Guidance for the Year 2021 Ålandsbanken Abp announced earnings guidance for the year 2021. For the year, the company expects its net operating profit in 2021 to be at about the same level as in 2020. Upcoming Dividend • Mar 25
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 31 March 2021. Payment date: 12 April 2021. Trailing yield: 3.3%. Lower than top quartile of Finnish dividend payers (3.8%). Lower than average of industry peers (3.8%). Announcement • Mar 11
Ålandsbanken Abp to Report Q1, 2021 Results on Apr 09, 2021 Ålandsbanken Abp announced that they will report Q1, 2021 results on Apr 09, 2021 Reported Earnings • Mar 02
Full year 2020 earnings released: EPS €2.02 (vs €1.70 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €145.3m (up 11% from FY 2019). Net income: €31.5m (up 20% from FY 2019). Profit margin: 22% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.03% (up from 0.98% in FY 2019). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 23
New 90-day high: €29.00 The company is up 42% from its price of €20.40 on 24 November 2020. The Finnish market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 11% over the same period. 