DB:24V

Stock Analysis Report

Vestjysk Bank

Executive Summary

Vestjysk Bank A/S provides banking products and services for retail and business customers in Jutland, Denmark.

Snowflake

Fundamentals

Excellent balance sheet with solid track record.

Share Price & News

How has Vestjysk Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 24V has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.1%

24V

-5.0%

DE Banks

0.03%

DE Market


1 Year Return

82.2%

24V

-26.6%

DE Banks

9.9%

DE Market

Return vs Industry: 24V exceeded the German Banks industry which returned -26.6% over the past year.

Return vs Market: 24V exceeded the German Market which returned 9.9% over the past year.


Shareholder returns

24VIndustryMarket
7 Day-1.1%-5.0%0.03%
30 Day-6.1%-1.3%4.4%
90 Day6.2%8.7%13.6%
1 Year82.2%82.2%-24.2%-26.6%13.4%9.9%
3 Yearn/a-16.1%-20.1%25.6%14.6%
5 Yearn/a-10.1%-31.5%36.9%18.2%

Price Volatility Vs. Market

How volatile is Vestjysk Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Vestjysk Bank undervalued compared to its fair value and its price relative to the market?

8.24x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 24V's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 24V's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 24V is good value based on its PE Ratio (8.2x) compared to the Banks industry average (16x).

PE vs Market: 24V is good value based on its PE Ratio (8.2x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 24V's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 24V is overvalued based on its PB Ratio (1.1x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

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

-12.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 24V's earnings are forecast to decline over the next 3 years (-12.6% per year).

Earnings vs Market: 24V's earnings are forecast to decline over the next 3 years (-12.6% per year).

High Growth Earnings: 24V's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if 24V's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if 24V's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 24V's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Vestjysk Bank performed over the past 5 years?

69.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 24V has high quality earnings.

Growing Profit Margin: 24V's current net profit margins (43.8%) are higher than last year (26.1%).


Past Earnings Growth Analysis

Earnings Trend: 24V has become profitable over the past 5 years, growing earnings by 69.9% per year.

Accelerating Growth: 24V's earnings growth over the past year (94.6%) exceeds its 5-year average (69.9% per year).

Earnings vs Industry: 24V earnings growth over the past year (94.6%) exceeded the Banks industry 3.9%.


Return on Equity

High ROE: 24V's Return on Equity (12.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 24V has a low level of unsold assets or inventory.

Debt Coverage by Assets: 24V's debt is covered by short term assets (assets are 2.9x debt).


Financial Institutions Analysis

Asset Level: 24V's level of assets compared to its equity is low.

Allowance for Bad Loans: 24V has a sufficient allowance for bad loans.

Low Risk Liabilities: 24V's liabilities are made up of primarily low risk sources of funding.

Loan Level: 24V has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 24V's loans are broadly funded by customer deposits.

Level of Bad Loans: 24V has a high level of bad loans (7.73%)


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%1.3%markettop25%3.7%industryaverage3.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 24V's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 24V's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 24V's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 24V's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 24V is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 24V's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

2.6yrs

Average board tenure


CEO

Jan Madsen (59yo)

4.8yrs

Tenure

ø3,625,000

Compensation

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 Danmar ...


CEO Compensation Analysis

Compensation vs Market: Jan's total compensation ($USD535.90K) is below average for companies of similar size in the German market ($USD805.12K).

Compensation vs Earnings: Jan's compensation has been consistent with company performance over the past year.


Board Age and Tenure

2.6yrs

Average Tenure

54yo

Average Age

Experienced Board: 24V's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Jens Møller (65yo)

    Deputy Director & CFO

    • Tenure: 0yrs
  • Bjarne Simonsen

    Branch Director of Randers

    • Tenure: 0yrs
  • Michael Petersen (56yo)

    MD & Member of Executive Board

    • Tenure: 7.2yrs
    • Compensation: ø2.85m
  • Jan Madsen (59yo)

    CEO & Member of Executive Board

    • Tenure: 4.8yrs
    • Compensation: ø3.63m
  • Mikael Hansen

    Chief Audit Executive

    • Tenure: 0yrs

Board Members

  • Lars Holst (67yo)

    Deputy Chairman of the Board

    • Tenure: 5.7yrs
    • Compensation: ø302.00k
  • Kim Duus (63yo)

    Chairman of the Board

    • Tenure: 0.7yrs
  • Bent Simonsen (58yo)

    Independent Director

    • Tenure: 6.7yrs
    • Compensation: ø219.00k
  • Jacob Møllgaard (43yo)

    Director

    • Tenure: 6.8yrs
    • Compensation: ø157.00k
  • Karina Boldsen (51yo)

    Independent Director

    • Tenure: 4.7yrs
    • Compensation: ø150.00k
  • Martin Thomsen (37yo)

    Director

    • Tenure: 2.6yrs
    • Compensation: ø169.00k
  • Bolette van Ingen Bro (54yo)

    Independent Director

    • Tenure: 1.7yrs
    • Compensation: ø112.00k
  • Nicolai Hansen

    Director

    • Tenure: 0.7yrs
  • Mette Nielsen

    Director

    • Tenure: 0.8yrs

Company Information

Vestjysk Bank A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vestjysk Bank A/S
  • Ticker: 24V
  • Exchange: DB
  • Founded: 1887
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: ø3.144b
  • Listing Market Cap: ø420.766m
  • Shares outstanding: 895.81m
  • Website: https://www.vestjyskbank.dk

Number of Employees


Location

  • Vestjysk Bank A/S
  • Torvet 4-5
  • Lemvig
  • Central Denmark Region
  • 7620
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VJBACPSE (OMX Nordic Exchange Copenhagen)YesEquity SharesDKDKKJan 1992
0GGKLSE (London Stock Exchange)YesEquity SharesGBDKKJan 1992
24VDB (Deutsche Boerse AG)YesEquity SharesDEEURJan 1992

Biography

Vestjysk Bank A/S provides banking products and services for retail and business customers in Jutland, Denmark. The company operates in four business areas: Business, Retail, Markets, and Agricultural Cent ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/16 21:46
End of Day Share Price2019/11/15 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.