OB:SNORBanks
SpareBank 1 Nordmøre (OB:SNOR) Margin Surge Challenges Defensive Banking Narrative
SpareBank 1 Nordmøre (OB:SNOR) reported a net profit margin of 39%, up from 16.9% a year ago. Annual earnings increased by 156.7%, which is significantly above its 5-year average growth of 39.9%. Despite expectations for revenue to decline by 0.5% annually over the next three years and forward earnings growth to slow to 2.5% per year compared to the Norwegian market’s 16.7%, the bank’s shares now trade at a considerable discount—just 3.6x earnings versus the peer average of 14.9x, and well...