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Vestjysk Bank

DB:24V
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
24V
DB
DKK2B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Vestjysk Bank A/S provides banking products and services for retail and business customers in Jutland, Denmark. The last earnings update was 24 days ago. More info.


Add to Portfolio Compare Print
  • Vestjysk Bank has significant price volatility in the past 3 months.
24V Share Price and Events
7 Day Returns
1.2%
DB:24V
4.9%
DE Banks
1.8%
DE Market
1 Year Returns
-
DB:24V
-35.2%
DE Banks
-8.9%
DE Market
24V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vestjysk Bank (24V) 1.2% 2.4% 36.7% - - -
DE Banks 4.9% 6.5% 3.8% -35.2% -7.4% -22.7%
DE Market 1.8% 3.9% 6.1% -8.9% 9.3% 11.7%
1 Year Return vs Industry and Market
  • No trading data on 24V.
  • No trading data on 24V.
Price Volatility
24V
Industry
5yr Volatility vs Market

24V Value

 Is Vestjysk Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Vestjysk Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Vestjysk Bank.

DB:24V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= DKK9.31 * 10.2%
DKK0.95
Book Value of Equity per Share Median Book Value from the past 5 years. DKK9.31
Discount Rate (Cost of Equity) See below 7.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:24V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.598 (1 + (1- 22%) (17.59%))
1.197
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.197 * 5.96%)
7.36%

Discounted Cash Flow Calculation for DB:24V using Excess Returns Model Model

The calculations below outline how an intrinsic value for Vestjysk Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:24V Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.2% – 7.36%) * DKK9.31)
DKK0.27
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= DKK0.27 / (7.36% - 0.23%)
DKK3.74
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= DKK9.31 + DKK3.74
DKK13.04
DB:24V Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:24V represents 0.12634x of CPSE:VJBA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.12634x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (DKK) x Listing Adjustment Factor
= DKK 13.04 x 0.12634
€1.65
Value per share (EUR) From above. €1.65
Current discount Discount to share price of €0.34
= -1 x (€0.34 - €1.65) / €1.65
79.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Vestjysk Bank is available for.
Intrinsic value
>50%
Share price is €0.34 vs Future cash flow value of €1.65
Current Discount Checks
For Vestjysk Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vestjysk Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vestjysk Bank's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Vestjysk Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vestjysk Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:24V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in DKK DKK0.30
CPSE:VJBA Share Price ** CPSE (2019-03-15) in DKK DKK2.72
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 14.63x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 19.52x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Vestjysk Bank.

DB:24V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:VJBA Share Price ÷ EPS (both in DKK)

= 2.72 ÷ 0.30

9.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vestjysk Bank is good value based on earnings compared to the DE Banks industry average.
  • Vestjysk Bank is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Vestjysk Bank's expected growth come at a high price?
Raw Data
DB:24V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-6%per year
Europe Banks Industry PEG Ratio Median Figure of 108 Publicly-Listed Banks Companies 0.72x
Germany Market PEG Ratio Median Figure of 275 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Vestjysk Bank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vestjysk Bank's assets?
Raw Data
DB:24V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in DKK DKK2.89
CPSE:VJBA Share Price * CPSE (2019-03-15) in DKK DKK2.72
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.9x
Germany Market PB Ratio Median Figure of 569 Publicly-Listed Companies 1.77x
DB:24V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:VJBA Share Price ÷ Book Value per Share (both in DKK)

= 2.72 ÷ 2.89

0.94x

* Primary Listing of Vestjysk Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vestjysk Bank is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess Vestjysk Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Vestjysk Bank has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

24V Future Performance

 How is Vestjysk Bank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Vestjysk Bank, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vestjysk Bank expected to grow at an attractive rate?
  • Vestjysk Bank's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Vestjysk Bank's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare Vestjysk Bank's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:24V Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:24V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -6%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:24V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:24V Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2018-12-31 724 296
2018-09-30 694 179
2018-06-30 669 175
2018-03-31 682 179
2017-12-31 676 163
2017-09-30 724 204
2017-06-30 699 177
2017-03-31 636 123
2016-12-31 589 80
2016-09-30 544 41
2016-06-30 545 15
2016-03-31 576 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vestjysk Bank's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Vestjysk Bank is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:24V Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Vestjysk Bank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:24V Past Financials Data
Date (Data in DKK Millions) EPS *
2018-12-31 0.30
2018-09-30 0.23
2018-06-30 0.16
2018-03-31 0.26
2017-12-31 0.30
2017-09-30 0.47
2017-06-30 0.96
2017-03-31 0.75
2016-12-31 0.50
2016-09-30 0.31
2016-06-30 0.11
2016-03-31 0.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Vestjysk Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Vestjysk Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Vestjysk Bank has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

24V Past Performance

  How has Vestjysk Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Vestjysk Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Vestjysk Bank has delivered over 20% year on year earnings growth in the past 5 years.
  • Vestjysk Bank's 1-year earnings growth exceeds its 5-year average (81.5% vs 73.9%)
  • Vestjysk Bank's earnings growth has exceeded the DE Banks industry average in the past year (81.5% vs 5.5%).
Earnings and Revenue History
Vestjysk Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Vestjysk Bank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:24V Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 723.59 296.15 412.00
2018-09-30 694.05 178.62 427.30
2018-06-30 668.64 174.73 448.42
2018-03-31 682.41 179.47 449.35
2017-12-31 676.24 163.16 444.27
2017-09-30 724.27 204.41 434.38
2017-06-30 699.40 177.25 439.34
2017-03-31 636.04 123.35 453.85
2016-12-31 589.44 79.85 465.24
2016-09-30 544.01 41.23 479.97
2016-06-30 544.85 15.32 500.04
2016-03-31 576.00 27.59 508.11
2015-12-31 612.48 49.42 511.16
2015-09-30 410.83 -161.14 527.89
2015-06-30 337.37 -210.73 505.10
2015-03-31 366.21 -180.99 504.76
2014-12-31 373.91 -188.20 518.34
2014-09-30 269.95 -308.64 530.38
2014-06-30 279.08 -310.42 538.73
2014-03-31 149.62 -448.90 550.50
2013-12-31 99.02 -442.37 554.63
2013-09-30 -8.38 -676.47 344.98
2013-06-30 -416.69 -1,524.35 601.97
2013-03-31 -277.49 -1,425.74 644.73
2012-12-31 -232.62 -1,448.52 652.72
2012-09-30 -400.45 -1,340.27 888.61
2012-06-30 63.13 -425.76 635.14
2012-03-31 62.90 -418.45 608.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Vestjysk Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vestjysk Bank used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if Vestjysk Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Vestjysk Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Vestjysk Bank has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

24V Health

 How is Vestjysk Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Vestjysk Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Vestjysk Bank Company Filings, last reported 2 months ago.

DB:24V Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,588.82 423.90 403.64
2018-09-30 2,460.58 417.02 416.68
2018-06-30 2,418.71 433.27 422.36
2018-03-31 2,375.13 435.01 417.58
2017-12-31 2,515.33 433.63 427.03
2017-09-30 2,508.46 605.90 419.95
2017-06-30 1,596.13 893.62 427.30
2017-03-31 1,541.90 880.43 419.26
2016-12-31 1,486.87 882.52 433.55
2016-09-30 1,424.23 1,203.07 449.04
2016-06-30 1,410.54 1,365.20 598.47
2016-03-31 1,413.49 1,326.17 298.08
2015-12-31 1,403.73 978.92 459.66
2015-09-30 1,315.85 1,771.17 519.05
2015-06-30 1,328.07 1,580.58 1,192.16
2015-03-31 1,318.73 1,542.04 1,249.04
2014-12-31 1,362.14 1,421.73 1,073.37
2014-09-30 1,481.34 1,582.06 551.55
2014-06-30 1,541.35 3,220.69 1,028.21
2014-03-31 1,500.48 4,390.24 974.06
2013-12-31 887.02 7,044.37 1,377.63
2013-09-30 841.12 8,150.44 1,126.53
2013-06-30 903.18 8,578.58 853.49
2013-03-31 1,003.66 10,169.45 1,078.14
2012-12-31 991.66 13,332.45 2,100.55
2012-09-30 1,526.07 13,494.68 2,585.40
2012-06-30 2,453.79 12,483.05 2,717.28
2012-03-31 2,137.25 15,536.72 4,374.90
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Vestjysk Bank has an acceptable proportion of non-loan assets held.
  • Vestjysk Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Vestjysk Bank are broadly funded by customer deposits.
  • Vestjysk Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Vestjysk Bank has a sufficient allowance for bad loans.
  • Vestjysk Bank has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Vestjysk Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Vestjysk Bank has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

24V Dividends

 What is Vestjysk Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Vestjysk Bank dividends.
If you bought €2,000 of Vestjysk Bank shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Vestjysk Bank's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Vestjysk Bank's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:24V Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 333 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:24V Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2009-08-05 0.000 0.000
2009-04-29 0.000 0.000
2009-03-18 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Vestjysk Bank has not reported any payouts.
  • Unable to verify if Vestjysk Bank's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Vestjysk Bank's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Vestjysk Bank has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Vestjysk Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Vestjysk Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vestjysk Bank has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

24V Management

 What is the CEO of Vestjysk Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jan Madsen
COMPENSATION DKK3,625,000
AGE 58
TENURE AS CEO 4.1 years
CEO Bio

Mr. Jan Ulso Madsen has been Chief Executive Officer of Vestjysk Bank A/S since February 1, 2015 and as its Member of Executive Board since November 28, 2014. Mr. Madsen served as Country Manager of Danmark at BankNordik P/F since 2011. He served as Head of Banking Operations - Denmark at BankNordik P/F. He has an extensive career with senior management positions in Danske Bank, including Regional Director for Eastern Jutland, domiciled in the city of Arhus. Prior to this, he had a career in Danske Bank Group where he has held a number of executive positions, including the position of Regional Manager of Danske Bank, Region Jutland East, in Aarhus. Mr. Madsen educated in banking.

CEO Compensation
  • Jan's compensation has been consistent with company performance over the past year.
  • Jan's remuneration is about average for companies of similar size in Germany.
Management Team

Jan Madsen

TITLE
CEO & Member of Executive Board
COMPENSATION
DKK4M
AGE
58
TENURE
4.1 yrs

Michael Petersen

TITLE
MD & Member of Executive Board
COMPENSATION
DKK3M
AGE
55
TENURE
6.5 yrs

Jens Møller

TITLE
Deputy Director & CFO
AGE
64

Mikael Hansen

TITLE
Chief Audit Executive

Bjarne Simonsen

TITLE
Branch Director of Randers
Board of Directors Tenure

Average tenure and age of the Vestjysk Bank board of directors in years:

5
Average Tenure
53
Average Age
  • The tenure for the Vestjysk Bank board of directors is about average.
Board of Directors

Vagn Thorsager

TITLE
Chairman of the Board
COMPENSATION
DKK469K
AGE
70
TENURE
5 yrs

Lars Holst

TITLE
Deputy Chairman of the Board
COMPENSATION
DKK302K
AGE
66
TENURE
5 yrs

Bent Simonsen

TITLE
Director
COMPENSATION
DKK219K
AGE
57
TENURE
6 yrs

Palle Hoffmann

TITLE
Director
COMPENSATION
DKK169K
AGE
46
TENURE
8.2 yrs

Jacob Møllgaard

TITLE
Director
COMPENSATION
DKK157K
AGE
42
TENURE
6.2 yrs

Karina Boldsen

TITLE
Director
COMPENSATION
DKK150K
AGE
50
TENURE
4 yrs

Claus Okholm

TITLE
Director
COMPENSATION
DKK131K
AGE
56
TENURE
1 yrs

Bolette van Ingen Bro

TITLE
Director
COMPENSATION
DKK112K
AGE
53
TENURE
1 yrs

Martin Thomsen

TITLE
Director
COMPENSATION
DKK169K
AGE
36
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Vestjysk Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Vestjysk Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

24V News

Simply Wall St News

24V Company Info

Description

Vestjysk Bank A/S provides banking products and services for retail and business customers in Jutland, Denmark. It operates through four segments: Business, Retail, Markets, and Agriculture. The company primarily focuses on lending and financing for agriculture, fisheries, and small and medium-sized enterprises; and providing various traditional products and advisory services on savings, pensions, loans, and debit and credit cards, as well as offering mortgage credit, investment, and pension and insurance products for retail customers. It also offers various products for business customers, such as fixed asset loans, commercial credit lines, guarantees, and foreign loans, as well as foreign exchange and interest rate swaps. Vestjysk Bank A/S is based in Lemvig, Denmark.

Details
Name: Vestjysk Bank A/S
24V
Exchange: DB
Founded:
DKK322,895,534
895,808,517
Website: http://www.vestjyskbank.dk
Address: Vestjysk Bank A/S
Torvet 4-5,
Lemvig,
7620,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE VJBA Equity Shares OMX Nordic Exchange Copenhagen DK DKK 02. Jan 1992
DB 24V Equity Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0GGK Equity Shares London Stock Exchange GB DKK 02. Jan 1992
Number of employees
Current staff
Staff numbers
386
Vestjysk Bank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/17 22:03
End of day share price update: 2019/03/15 00:00
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.