OB:MORGBanks
Sparebanken Møre (OB:MORG) Stock Trails Profit Rebound As Margin Pressure Persists
Sparebanken Møre stock closed at NOK113.38 on Friday, capping a month where the price has inched higher but not dramatically re-rated. The market reaction looks restrained compared with the earnings story. Q2 net income excluding extra items landed at NOK275 million with basic earnings per share at NOK2.57, solid numbers for a regional bank and a clear step up from the prior quarter.
The real talking point is the valuation strain that now stands out more clearly. The shares trade on a...