OB:SBNORBanks
Sparebanken Norge (OB:SBNOR) Stock Looks Cheap As Margin Pressure Builds
Sparebanken Norge stock has inched down over the past week even as the latest quarter landed with heavy headline numbers. Total revenue for Q2 came in at NOK3,305m and net income reached NOK1,723m, figures that sit on top of already strong trailing earnings and a net profit margin of 38.3% over the last year.
The short term reaction looks cautious. The bigger story sits in the multi year view, where earnings growth and a P/E of 6.7x against higher industry averages keeps the long term...