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Pareto Bank

DB:8PB
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8PB
DB
NOK2B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Pareto Bank ASA provides various financial products and services in Norway. The last earnings update was 20 days ago. More info.


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8PB Share Price and Events
7 Day Returns
1.6%
DB:8PB
-4.6%
DE Banks
-0%
DE Market
1 Year Returns
-
DB:8PB
-26.9%
DE Banks
-11.5%
DE Market
8PB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pareto Bank (8PB) 1.6% 0.4% 9.2% - - -
DE Banks -4.6% -7.9% 4.6% -26.9% -1.7% -26.6%
DE Market -0% -3.3% 2.1% -11.5% 8.9% 8.1%
1 Year Return vs Industry and Market
  • No trading data on 8PB.
  • No trading data on 8PB.
Price Volatility
8PB
Industry
5yr Volatility vs Market

8PB Value

 Is Pareto 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 Pareto 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

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

DB:8PB 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
= NOK50.57 * 14.9%
NOK7.55
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. NOK50.57
Discount Rate (Cost of Equity) See below 8.9%
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:8PB
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 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 23%) (242.25%))
1.455
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.45
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.455 * 5.96%)
8.9%

Discounted Cash Flow Calculation for DB:8PB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Pareto 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:8PB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.9% – 8.9%) * NOK50.57)
NOK3.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK3.05 / (8.9% - 0.23%)
NOK35.14
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK50.57 + NOK35.14
NOK85.71
DB:8PB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:8PB represents 0.10104x of OB:PARB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10104x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 85.71 x 0.10104
€8.66
Value per share (EUR) From above. €8.66
Current discount Discount to share price of €3.90
= -1 x (€3.90 - €8.66) / €8.66
55%

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

Current Discount
Amount off the current price Pareto Bank is available for.
Intrinsic value
>50%
Share price is €3.9 vs Future cash flow value of €8.66
Current Discount Checks
For Pareto Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pareto Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pareto 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 Pareto Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pareto Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:8PB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in NOK NOK5.88
OB:PARB Share Price ** OB (2019-05-22) in NOK NOK38.6
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.69x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.26x

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

** Primary Listing of Pareto Bank.

DB:8PB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:PARB Share Price ÷ EPS (both in NOK)

= 38.6 ÷ 5.88

6.57x

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

  • Pareto Bank is good value based on earnings compared to the DE Banks industry average.
  • Pareto Bank is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Pareto Bank's expected growth come at a high price?
Raw Data
DB:8PB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
5.7%per year
Europe Banks Industry PEG Ratio Median Figure of 114 Publicly-Listed Banks Companies 0.77x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

DB:8PB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.57x ÷ 5.7%

1.15x

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

  • Pareto Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pareto Bank's assets?
Raw Data
DB:8PB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in NOK NOK43.66
OB:PARB Share Price * OB (2019-05-22) in NOK NOK38.6
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.91x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:8PB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:PARB Share Price ÷ Book Value per Share (both in NOK)

= 38.6 ÷ 43.66

0.88x

* Primary Listing of Pareto Bank.

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

  • Pareto Bank is good value based on assets compared to the DE Banks industry average.
X
Value checks
We assess Pareto 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. Pareto Bank has a total score of 5/6, 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.

8PB Future Performance

 How is Pareto Bank expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
5.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pareto Bank expected to grow at an attractive rate?
  • Pareto Bank's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Pareto Bank's earnings growth is positive but not above the Germany market average.
  • Pareto Bank's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:8PB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:8PB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 5.7%
DB:8PB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 8.1%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 13.3%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:8PB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:8PB Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 771 423 2
2020-12-31 731 400 2
2019-12-31 691 388 2
DB:8PB Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-03-31 590 -699 351
2018-12-31 559 -1,724 331
2018-09-30 553 1,104 322
2018-06-30 560 332
2018-03-31 532 -1,399 313
2017-12-31 528 -495 313
2017-09-30 513 -938 306
2017-06-30 487 -614 289
2017-03-31 473 -25 277
2016-12-31 427 -392 247
2016-09-30 376 393 208
2016-06-30 352 -59 190

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pareto Bank's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
  • Pareto Bank's revenue is expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).
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:8PB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Pareto Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:8PB Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 7.21 7.73 6.69 2.00
2020-12-31 6.83 7.28 6.37 2.00
2019-12-31 6.61 6.77 6.46 2.00
DB:8PB Past Financials Data
Date (Data in NOK Millions) EPS *
2019-03-31 5.88
2018-12-31 5.55
2018-09-30 5.44
2018-06-30 5.63
2018-03-31 5.32
2017-12-31 5.28
2017-09-30 4.63
2017-06-30 4.48
2017-03-31 4.43
2016-12-31 4.08
2016-09-30 4.01
2016-06-30 3.85

*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.
  • Pareto Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pareto 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.
Pareto Bank has a total score of 2/6, 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.

8PB Past Performance

  How has Pareto 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 Pareto 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.
  • Pareto Bank has delivered over 20% year on year earnings growth in the past 5 years.
  • Pareto Bank's 1-year earnings growth is less than its 5-year average (12% vs 20.3%)
  • Pareto Bank's earnings growth has exceeded the DE Banks industry average in the past year (12% vs 5.4%).
Earnings and Revenue History
Pareto 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 Pareto Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:8PB Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 589.81 351.22 107.44
2018-12-31 558.60 330.78 105.50
2018-09-30 553.28 322.46 111.26
2018-06-30 559.55 331.69 100.09
2018-03-31 531.70 313.47 102.59
2017-12-31 527.54 312.59 100.09
2017-09-30 512.74 306.38 93.17
2017-06-30 487.02 288.81 90.47
2017-03-31 473.25 277.48 89.52
2016-12-31 427.28 247.31 84.21
2016-09-30 375.85 207.68 81.04
2016-06-30 352.44 190.00 79.92
2016-03-31 343.44 186.29 76.59
2015-12-31 325.02 174.65 72.59
2015-09-30 326.71 171.95 84.10
2015-06-30 316.51 168.38 79.00
2015-03-31 282.97 147.97 74.68
2014-12-31 289.25 154.22 72.67
2014-09-30 298.08 162.84 65.91
2014-06-30 275.30 146.29 65.98
2014-03-31 259.68 133.76 66.72
2013-12-31 227.87 109.73 67.59
2013-09-30 202.52 97.63 60.34
2013-06-30 183.37 83.20 60.37
2013-03-31 162.37 68.73 59.62
2012-12-31 160.77 67.66 59.83
2012-09-30 134.52 48.59 59.71
2012-06-30 135.28 47.26 63.39

*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.
  • Pareto Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pareto Bank used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if Pareto 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 Pareto 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.
Pareto Bank has a total score of 3/6, 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.

8PB Health

 How is Pareto 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 Pareto 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 Pareto Bank Company Filings, last reported 1 month ago.

DB:8PB Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,605.54 5,566.59 970.75
2018-12-31 2,507.81 5,328.51 333.28
2018-09-30 2,428.11 5,488.51 1,330.10
2018-06-30 2,353.00 5,185.00
2018-03-31 2,110.84 4,296.56 436.05
2017-12-31 2,125.91 3,566.43 368.16
2017-09-30 2,052.99 3,579.35 188.26
2017-06-30 1,967.48 3,090.25 373.78
2017-03-31 1,892.96 3,075.50 896.41
2016-12-31 1,985.16 3,211.57 817.07
2016-09-30 1,722.90 4,046.26 103.36
2016-06-30 1,656.41 3,730.50 765.90
2016-03-31 1,594.77 4,192.22 130.90
2015-12-31 1,350.39 3,250.98 829.42
2015-09-30 1,166.73 3,095.90 539.74
2015-06-30 1,119.05 2,983.64 863.19
2015-03-31 1,087.67 2,789.76 494.69
2014-12-31 1,050.26 2,809.05 471.19
2014-09-30 1,025.53 2,794.08 683.37
2014-06-30 978.36 2,128.62 395.69
2014-03-31 964.31 2,227.24 935.45
2013-12-31 918.61 1,774.07 577.74
2013-09-30 888.20 1,750.82 1,500.71
2013-06-30 857.57 1,811.81 1,770.73
2013-03-31 830.55 1,863.64 258.60
2012-12-31 837.30 1,829.31 318.96
2012-09-30 816.12 1,717.77 2,093.49
2012-06-30 799.92 1,712.00 2,875.80
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.
  • Pareto Bank has an acceptable proportion of non-loan assets held.
  • Pareto Bank's liabilities are made up of primarily low risk sources of funding.
  • Pareto Bank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Pareto Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Pareto Bank has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Pareto Bank has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Pareto 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. Pareto Bank has a total score of 3/6, 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.

8PB Dividends

 What is Pareto 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
1.81%
Current annual income from Pareto Bank dividends. Estimated to be 7.62% next year.
If you bought €2,000 of Pareto Bank shares you are expected to receive €36 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?
  • Pareto Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Pareto Bank's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:8PB 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 2 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
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:8PB Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 4.00 2.00
2020-12-31 3.38 2.00
2019-12-31 1.45 2.00
DB:8PB Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.700 1.875
2019-01-24 0.700 1.957
2018-03-01 1.600 4.208
2018-01-25 1.600 4.127
2017-03-02 1.000 2.712
2017-01-26 1.000 2.547
2016-10-20 0.000 0.000
2016-10-17 0.000 0.000
2016-07-20 0.000 0.000
2016-04-21 0.000 0.000
2016-04-15 0.000 0.000
2016-03-07 0.000 0.000
2016-02-04 0.000 0.000
2015-03-16 0.600 2.133
2015-01-29 0.600 2.206
2014-10-23 0.600 2.370

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

  • Pareto Bank has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Pareto Bank only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Pareto Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Pareto 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 Pareto Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pareto Bank has a total score of 3/6, see the detailed checks below.


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

8PB Management

 What is the CEO of Pareto 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
Tiril Villum
COMPENSATION NOK4,025,000
TENURE AS CEO 8.3 years
CEO Bio

Ms. Tiril Haug Villum has been the Chief Executive Officer at Pareto Bank ASA at Pareto AS since 2011. Ms. Villum served as Chief Financial Officer at Pareto Bank ASA. She served as Chief Financial Officer of SEB Privatbanken from 2000 to 2007.

CEO Compensation
  • Tiril's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Tiril's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Pareto Bank management team in years:

0.3
Average Tenure
  • The average tenure for the Pareto Bank management team is less than 2 years, this suggests a new team.
Management Team

Tiril Villum

TITLE
Chief Executive Officer
COMPENSATION
NOK4M
TENURE
8.3 yrs

Erling Mork

TITLE
CFO and Head of finance & accounting
COMPENSATION
NOK3M

Per Schiong

TITLE
Executive Director of Credit
COMPENSATION
NOK3M

Erik Skarbøvik

TITLE
Executive Director of Securities
COMPENSATION
NOK4M

Svein Klepp

TITLE
Director of Real Estate
COMPENSATION
NOK3M

Anders Jørgensen

TITLE
TENURE
0.4 yrs

Mats Gehrken

TITLE
Heads of Operational Financing
TENURE
0.3 yrs

Monica Mælen

TITLE
Treasury
TENURE
0.2 yrs

Espen Bekvik

TITLE
Controller
TENURE
0.1 yrs
Board of Directors Tenure

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

0.2
Average Tenure
56
Average Age
  • The average tenure for the Pareto Bank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Åsmund Skår

TITLE
Chairman of the Board
COMPENSATION
NOK380K
AGE
59

Brita Eilertsen

TITLE
Deputy Chairman
COMPENSATION
NOK300K
AGE
56

Peter Knudsen

TITLE
Director
COMPENSATION
NOK90K
TENURE
0.2 yrs

Hilde Vatne

TITLE
Director
AGE
53
TENURE
0.2 yrs

Eyvind Width

TITLE
Director
TENURE
0.2 yrs

Lars Erik Næss

TITLE
Director
TENURE
0.2 yrs

Mariann Heggelien

TITLE
Deputy Director
COMPENSATION
NOK2M

Trine Høgås-Ellingsen

TITLE
Deputy Director
COMPENSATION
NOK50K

Per Nicolaise

TITLE
Deputy Director
TENURE
0.2 yrs

Trine Ludvigsen

TITLE
Deputy Employee Director
COMPENSATION
NOK1M
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Pareto Bank insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Mar 19 Buy Trine Ludvigsen Individual 12. Mar 19 12. Mar 19 405 €3.80 €1,538
13. Mar 19 Buy Petter Tinholt Individual 12. Mar 19 12. Mar 19 1,652 €3.80 €6,274
13. Mar 19 Buy Mariann Heggelien Individual 12. Mar 19 12. Mar 19 405 €3.80 €1,538
13. Mar 19 Buy Svein Klepp Individual 12. Mar 19 12. Mar 19 405 €3.80 €1,538
13. Mar 19 Buy Per Schiong Individual 12. Mar 19 12. Mar 19 405 €3.80 €1,538
13. Mar 19 Buy Erik Skarbøvik Individual 12. Mar 19 12. Mar 19 1,378 €3.80 €5,233
13. Mar 19 Buy Erling Mork Individual 12. Mar 19 12. Mar 19 405 €3.80 €1,538
13. Mar 19 Buy Tiril Villum Individual 12. Mar 19 12. Mar 19 1,652 €3.80 €6,274
14. Nov 18 Sell Saga Tankers ASA Company 04. Nov 18 04. Nov 18 -1,340,478 €3.75 €-5,029,249
14. Nov 18 Buy Pareto Forvaltning AS Company 04. Nov 18 04. Nov 18 304,000 €3.75 €1,140,557
26. Oct 18 Buy Erling Mork Individual 25. Oct 18 25. Oct 18 2,000 €3.93 €7,854
26. Oct 18 Sell Saga Tankers ASA Company 26. Oct 18 26. Oct 18 -125,168 €3.89 €-487,161
12. Sep 18 Sell Saga Tankers ASA Company 11. Sep 18 11. Sep 18 -1,000,000 €4.03 €-4,031,880
15. Aug 18 Sell Trine Ludvigsen Individual 14. Aug 18 14. Aug 18 -3,000 €4.24 €-12,708
16. Aug 18 Buy Åsmund Skår Individual 16. Aug 18 16. Aug 18 7,500 €4.19 €31,442
27. Jul 18 Sell Peter Tinholt Individual 27. Jul 18 27. Jul 18 -1,891 €4.23 €-7,991
19. Jul 18 Sell Erik Skarbøvik Individual 19. Jul 18 19. Jul 18 -20,000 €4.11 €-82,267
X
Management checks
We assess Pareto 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. Pareto 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.

8PB News

Simply Wall St News

8PB Company Info

Description

Pareto Bank ASA provides various financial products and services in Norway. It accepts deposits; and offers property development, corporate, and shipping and offshore financing services. It also provides financing for the construction and rehabilitation of housing projects, as well as for companies, owners, and investors. In addition, it offers credit cards and online banking services. The company is based in Oslo, Norway.

Details
Name: Pareto Bank ASA
8PB
Exchange: DB
Founded:
NOK235,412,616
58,619,688
Website: http://www.paretobank.no
Address: Pareto Bank ASA
Dronning Mauds gate 3,
Oslo,
Oslo, 0250,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB PARB Share Capital Oslo Bors NO NOK 10. Mar 2014
DB 8PB Share Capital Deutsche Boerse AG DE EUR 10. Mar 2014
LSE 0RI3 Share Capital London Stock Exchange GB NOK 10. Mar 2014
Number of employees
Current staff
Staff numbers
0
Pareto Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 01:19
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
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.