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Norwegian (OSEAX) Diversified Banks Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies6
  • 7D4.6%
  • 3M12.1%
  • 1Y22.0%
  • YTDn/a

Over the last 7 days, the Diversified Banks industry has risen 4.6%, driven by gains from DNB Bank of 4.9%. This takes the industry's 12 month performance to a gain of 22%. Earnings are forecast to be flat in the coming years.

Industry Valuation and Performance

Has the Norwegian Diversified Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026NOK 499.8bNOK 108.8bNOK 48.0b10.7x10.4x4.6x
Tue, 06 Jan 2026NOK 488.5bNOK 108.4bNOK 49.2b11.3x9.9x4.5x
Thu, 04 Dec 2025NOK 462.1bNOK 108.4bNOK 49.2b9.7x9.4x4.3x
Sat, 01 Nov 2025NOK 439.7bNOK 107.2bNOK 49.3b9.9x8.9x4.1x
Mon, 29 Sep 2025NOK 463.6bNOK 108.0bNOK 50.7b10.2x9.1x4.3x
Wed, 27 Aug 2025NOK 463.0bNOK 108.0bNOK 50.7b10.3x9.1x4.3x
Fri, 25 Jul 2025NOK 446.3bNOK 106.4bNOK 50.2b10.6x8.9x4.2x
Sun, 22 Jun 2025NOK 467.9bNOK 105.5bNOK 50.3b9.6x9.3x4.4x
Tue, 20 May 2025NOK 464.1bNOK 105.4bNOK 50.3b9.4x9.2x4.4x
Thu, 17 Apr 2025NOK 445.0bNOK 107.5bNOK 50.4b9.3x8.8x4.1x
Sat, 15 Mar 2025NOK 463.0bNOK 107.5bNOK 50.4b9.8x9.2x4.3x
Mon, 10 Feb 2025NOK 414.0bNOK 106.9bNOK 51.7b8.8x8x3.9x
Wed, 08 Jan 2025NOK 398.2bNOK 104.4bNOK 47.6b8.5x8.4x3.8x
Fri, 06 Dec 2024NOK 400.5bNOK 104.7bNOK 47.7b8.5x8.4x3.8x
Sun, 03 Nov 2024NOK 396.5bNOK 103.3bNOK 46.7b9.1x8.5x3.8x
Tue, 01 Oct 2024NOK 364.6bNOK 100.6bNOK 44.8b8.8x8.1x3.6x
Thu, 29 Aug 2024NOK 378.3bNOK 100.6bNOK 44.8b9x8.4x3.8x
Sat, 27 Jul 2024NOK 375.1bNOK 99.7bNOK 44.5b8.8x8.4x3.8x
Mon, 24 Jun 2024NOK 352.0bNOK 98.0bNOK 43.3b8.4x8.1x3.6x
Wed, 22 May 2024NOK 350.3bNOK 97.3bNOK 43.0b8x8.1x3.6x
Fri, 19 Apr 2024NOK 364.3bNOK 97.6bNOK 43.3b8.7x8.4x3.7x
Sun, 17 Mar 2024NOK 361.0bNOK 97.6bNOK 43.3b8.9x8.3x3.7x
Tue, 13 Feb 2024NOK 350.2bNOK 97.6bNOK 44.3b9.3x7.9x3.6x
Thu, 11 Jan 2024NOK 369.7bNOK 95.8bNOK 43.2b9.6x8.6x3.9x
Sat, 09 Dec 2023NOK 361.7bNOK 95.8bNOK 43.2b8.7x8.4x3.8x
Mon, 06 Nov 2023NOK 346.9bNOK 95.7bNOK 43.1b9x8x3.6x
Wed, 04 Oct 2023NOK 372.6bNOK 91.5bNOK 40.7b9.1x9.2x4.1x
Fri, 01 Sep 2023NOK 367.5bNOK 91.2bNOK 40.6b9.3x9.1x4x
Sun, 30 Jul 2023NOK 364.1bNOK 90.6bNOK 40.5b9.4x9x4x
Tue, 27 Jun 2023NOK 339.9bNOK 87.8bNOK 39.0b9.1x8.7x3.9x
Thu, 25 May 2023NOK 326.0bNOK 87.7bNOK 39.0b8.2x8.4x3.7x
Sat, 22 Apr 2023NOK 350.2bNOK 82.1bNOK 35.8b10.2x9.8x4.3x
Mon, 20 Mar 2023NOK 325.2bNOK 82.1bNOK 35.8b9.6x9.1x4x
Wed, 15 Feb 2023NOK 341.6bNOK 81.8bNOK 35.6b10.2x9.6x4.2x
Price to Earnings Ratio

9.6x


Total Market Cap: NOK 341.6bTotal Earnings: NOK 35.6bTotal Revenue: NOK 81.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Diversified Banks Industry Price to Earnings3Y Average 8.8x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Diversified Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.4x which is higher than its 3-year average PE of 8.8x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 9.4% per year over the last three years.
  • Revenues for these companies have grown 9.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Norwegian Diversified Banks compare with similar industries?

NO Market2.65%
Financials3.63%
Banks4.22%
Diversified Banks4.63%
Regional Banks2.95%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
DNB DNB BankNOK 290.304.9%
+NOK 19.8b		20.9%PB1.4x
SPOL SpareBank 1 ØstlandetNOK 203.904.1%
+NOK 1.1b		24.0%PB1x
SBNOR Sparebanken NorgeNOK 198.243.3%
+NOK 1.1b		42.7%PB0.7x
RING SpareBank 1 Ringerike HadelandNOK 424.952.4%
+NOK 155.7m		16.4%PB1.2x
SPOG Sparebanken ØstNOK 79.901.6%
+NOK 25.9m		0.4%PB0.3x

Latest News

DNB
NOK 290.30
DNB Bank
7D
4.9%
1Y
20.9%

DNB: Future Returns Will Reflect Cautious Pricing And Execution Risk

Analysts have nudged their fair value estimate for DNB Bank higher to NOK 289.27 from NOK 283.53, reflecting updated assumptions on discount rates, revenue growth, profit margin and future P/E, even though recent Street price targets have moved slightly lower. Analyst Commentary Recent Street research has become a bit more cautious on DNB Bank, with price targets adjusted slightly lower even as our fair value estimate has been nudged higher.
SBNOR
NOK 198.24
Sparebanken Norge
7D
3.3%
1Y
42.7%
PARB
NOK 80.00
Pareto Bank
7D
-1.2%
1Y
6.2%
SPOL
NOK 203.90
SpareBank 1 Østlandet
7D
4.1%
1Y
24.0%

SPOL: Higher Revenue Assumptions And Lower P/E Will Shape Balanced Outlook

Analysts have lifted their price target for SpareBank 1 Østlandet from NOK 193.33 to NOK 197.33, citing updated assumptions on revenue growth, profit margins and future P/E that refine their view of the bank’s earnings power and risk profile. Valuation Changes Fair Value Estimate: Raised slightly from NOK 193.33 to NOK 197.33 per share, reflecting the updated assessment of earnings power.
SPOG
NOK 79.90
Sparebanken Øst
7D
1.6%
1Y
0.4%
RING
NOK 424.95
SpareBank 1 Ringerike Hadeland
7D
2.4%
1Y
16.4%