DB:93S

Stock Analysis Report

SpareBank 1 Nord-Norge

Executive Summary

SpareBank 1 Nord-Norge provides financial products and services to personal customers, companies, and organizations in Northern Norway.

Snowflake

Fundamentals

Flawless balance sheet, undervalued and pays a dividend.


Similar Companies

Share Price & News

How has SpareBank 1 Nord-Norge's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.2%

93S

4.0%

DE Banks

2.4%

DE Market


1 Year Return

n/a

93S

-27.1%

DE Banks

4.9%

DE Market

Return vs Industry: Insufficient data to determine how 93S performed against the German Banks industry.

Return vs Market: Insufficient data to determine how 93S performed against the German Market.


Shareholder returns

93SIndustryMarket
7 Day1.2%4.0%2.4%
30 Day-0.9%-0.9%2.3%
90 Day-2.1%-7.5%2.7%
1 Yearn/a-24.8%-27.1%8.2%4.9%
3 Yearn/a-4.7%-9.4%18.3%8.0%
5 Yearn/a-10.1%-31.7%44.2%24.6%

Price Volatility Vs. Market

How volatile is SpareBank 1 Nord-Norge's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is SpareBank 1 Nord-Norge undervalued compared to its fair value and its price relative to the market?

39.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 93S (€6.68) is trading below our estimate of fair value (€11.11)

Significantly Below Fair Value: 93S is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 93S is good value based on its PE Ratio (6.9x) compared to the Banks industry average (16x).

PE vs Market: 93S is good value based on its PE Ratio (6.9x) compared to the German market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: 93S's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: 93S is good value based on its PB Ratio (0.5x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is SpareBank 1 Nord-Norge forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-6.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 93S's earnings are forecast to decline over the next 3 years (-6.1% per year).

Earnings vs Market: 93S's earnings are forecast to decline over the next 3 years (-6.1% per year).

High Growth Earnings: 93S's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 93S's revenue is expected to decline over the next 3 years (-3.2% per year).

High Growth Revenue: 93S's revenue is forecast to decline over the next 3 years (-3.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 93S's Return on Equity is forecast to be low in 3 years time (12%).


Next Steps

Past Performance

How has SpareBank 1 Nord-Norge performed over the past 5 years?

6.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 93S's earnings have grown by 6.7% per year over the past 5 years.

Accelerating Growth: 93S's earnings growth over the past year (42.3%) exceeds its 5-year average (6.7% per year).

Earnings vs Industry: 93S earnings growth over the past year (42.3%) exceeded the Banks industry -11.7%.


Return on Equity

High ROE: 93S's Return on Equity (16.2%) is considered low.


Return on Assets

ROA vs Industry: 93S has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate 93S's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is SpareBank 1 Nord-Norge'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: 93S has a low level of unsold assets or inventory.

Debt Coverage by Assets: 93S's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: 93S's level of assets compared to its equity is low.

Allowance for Bad Loans: 93S has a sufficient allowance for bad loans.

Low Risk Liabilities: 93S's liabilities are made up of primarily low risk sources of funding.

Loan Level: 93S has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 93S's loans are broadly funded by customer deposits.

Level of Bad Loans: 93S has an appropriate level of bad loans (0.55%)


Next Steps

Dividend

What is SpareBank 1 Nord-Norge's current dividend yield, its reliability and sustainability?

5.76%

Current Dividend Yield


Dividend Yield vs Market

company5.8%marketbottom25%1.5%markettop25%3.8%industryaverage3.6%forecastin3Years7.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 93S's dividend (5.76%) is higher than the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: 93S's dividend (5.76%) is in the top 25% of dividend payers in the German market (3.79%)

Stable Dividend: 93S's dividend payments have been volatile in the past 10 years.

Growing Dividend: 93S's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (39.6%), 93S's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 93S's dividends in 3 years are forecast to be covered by earnings (63.3% payout ratio).


Next Steps

Management

What is the CEO of SpareBank 1 Nord-Norge's salary, the management and board of directors tenure and is there insider trading?

1.9yrs

Average management tenure


CEO

Petter Høiseth 0

0.6yrs

Tenure

kr2,394,000

Compensation

Mr. Petter Høiseth serves as Chief Executive Officer at SpareBank 1 Nord-Norge since March 15, 2019. He was Chief of Staff at SpareBank 1 Nord-Norge until March 15, 2019 and served as its Group Executive V ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Petter's total compensation is reasonable compared to companies of similar size in the German market.

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


Management Age and Tenure

1.9yrs

Average Tenure

Experienced Management: 93S's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Insider Trading

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


Recent Insider Transactions

Sellkr308,68908 Mar 19
Jan-Frode Janson
EntityIndividual
Shares45,000
Max Pricekr6.86
Buykr20,63826 Oct 18
Lasse Hagerupsen
EntityIndividual
Role
Senior Key Executive
Chief Regional Officer of Hålogaland
Shares3,000
Max Pricekr6.88

Ownership Breakdown


Management Team

  • Bengt Olsen (49yo)

    Chief Financial Officer

    • Tenure: 0.5yrs
    • Compensation: kr221.00k
  • Geir Andreassen

    Chief Technology Officer

    • Tenure: 1.9yrs
    • Compensation: kr2.25m
  • Liv Ulriksen

    Chief Risk Officer

    • Tenure: 0yrs
    • Compensation: kr2.37m
  • Petter Høiseth

    Chief Executive Officer

    • Tenure: 0.6yrs
    • Compensation: kr2.39m
  • Tom-Robin Solstad-Nøis

    Director of SNN Markets

    • Tenure: 6.8yrs
    • Compensation: kr1.82m
  • Trude Glad

    Chief Regional Officer of Helgeland & Salten

    • Tenure: 1.9yrs
    • Compensation: kr2.48m
  • Christian Overvaag

    Chief Regional Officer of Troms

    • Tenure: 1.9yrs
    • Compensation: kr1.94m
  • Lasse Hagerupsen

    Chief Regional Officer of Hålogaland

    • Tenure: 1.9yrs
    • Compensation: kr1.87m
  • Trond Hanssen

    Chief Regional Officer of Finnmark

    • Tenure: 0yrs
    • Compensation: kr1.87m
  • Ronni Pettersen

    Chief Commercial Officer

    • Tenure: 0yrs
    • Compensation: kr2.24m

Board Members

  • Vivi Ann Pedersen (66yo)

    Employee Representative Director

    • Tenure: 0yrs
    • Compensation: kr210.00k
  • Roar Dons

    Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: kr40.00k
  • Dag Lund

    Supervisory Board Member

    • Tenure: 0yrs
  • Kari Olsen Lind

    Supervisory Board Vice Chairman

    • Tenure: 0yrs
  • Charlotte Ringkjøb

    Supervisory Board Member

    • Tenure: 6.8yrs
  • Rita Myrvang

    GM & Supervisory Board Member

    • Tenure: 7.6yrs
  • Hans-Tore Bjerkaas (68yo)

    Deputy Chairman of the Board

    • Tenure: 0yrs
    • Compensation: kr357.00k
  • Karl Schjøtt-Pedersen (60yo)

    Chairman of the Board

    • Tenure: 0yrs
    • Compensation: kr486.00k
  • Chris Martinsen

    Head of Department & Supervisory Board Member

    • Tenure: 0yrs
  • Tor Oppheim

    Head of Department & Supervisory Board Member

    • Tenure: 0yrs

Company Information

SpareBank 1 Nord-Norge's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SpareBank 1 Nord-Norge
  • Ticker: 93S
  • Exchange: DB
  • Founded: 1836
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: kr6.978b
  • Listing Market Cap: kr685.393m
  • Shares outstanding: 100.40m
  • Website: https://www.sparebank1.no/nb/nord-norge

Number of Employees


Location

  • SpareBank 1 Nord-Norge
  • Sjøgata 8
  • Tromsø
  • Troms
  • 9008
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NONGOB (Oslo Bors)YesPrimary Capital CertificatesNONOKMay 1994
0J1NLSE (London Stock Exchange)YesPrimary Capital CertificatesGBNOKMay 1994
NONGOBATS-CHIXE (BATS 'Chi-X Europe')YesPrimary Capital CertificatesGBNOKMay 1994
93SDB (Deutsche Boerse AG)YesPrimary Capital CertificatesDEEURMay 1994

Biography

SpareBank 1 Nord-Norge provides financial products and services to personal customers, companies, and organizations in Northern Norway. The company offers various savings, lending, and insurance products,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 22:08
End of Day Share Price2019/10/22 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.