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Lån &r Bank

CPSE:LASP
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LASP
CPSE
DKK2B
Market Cap
  1. Home
  2. DK
  3. Banks
Company description

Lån & Spar Bank A/S provides various banking products and services in Denmark. The last earnings update was 13 days ago. More info.


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LASP Share Price and Events
7 Day Returns
0.4%
CPSE:LASP
3.1%
DK Banks
1%
DK Market
1 Year Returns
-6.4%
CPSE:LASP
-39.5%
DK Banks
0.5%
DK Market
LASP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Lån &r Bank (LASP) 0.4% 0.4% -0.9% -6.4% 21% 27.7%
DK Banks 3.1% -8.3% -3.5% -39.5% -33.5% -23.3%
DK Market 1% -0.2% 2.2% 0.5% 2.3% 36.5%
1 Year Return vs Industry and Market
  • LASP outperformed the Banks industry which returned -39.5% over the past year.
  • LASP underperformed the Market in Denmark which returned 0.5% over the past year.
Price Volatility
LASP
Industry
5yr Volatility vs Market

Value

 Is Lån &r 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 Lån &r 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 Lån &r Bank.

CPSE:LASP 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
= DKK483.49 * 10.9%
DKK52.61
Book Value of Equity per Share Median Book Value from the past 5 years. DKK483.49
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DK 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 CPSE:LASP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DK 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))
= 0.596 (1 + (1- 22%) (10.85%))
0.763
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.21% + (0.8 * 5.96%)
4.98%

Discounted Cash Flow Calculation for CPSE:LASP using Excess Returns Model Model

The calculations below outline how an intrinsic value for Lån &r 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.

CPSE:LASP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.9% – 4.98%) * DKK483.49)
DKK28.52
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= DKK28.52 / (4.98% - 0.21%)
DKK598.24
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= DKK483.49 + DKK598.24
DKK1081.73
CPSE:LASP Discount to Share Price
Calculation Result
Value per share (DKK) From above. DKK1,081.73
Current discount Discount to share price of DKK466.00
= -1 x (DKK466.00 - DKK1,081.73) / DKK1,081.73
56.9%

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

Current Discount
Amount off the current price Lån &r Bank is available for.
Intrinsic value
>50%
Share price is DKK466 vs Future cash flow value of DKK1081.73
Current Discount Checks
For Lån &r Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Lån &r Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Lån &r 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 Lån &r Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Lån &r Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
CPSE:LASP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in DKK DKK50.02
CPSE:LASP Share Price ** CPSE (2019-05-24) in DKK DKK466
Denmark Banks Industry PE Ratio Median Figure of 21 Publicly-Listed Banks Companies 7.93x
Denmark Market PE Ratio Median Figure of 103 Publicly-Listed Companies 16.77x

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

** Primary Listing of Lån &r Bank.

CPSE:LASP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 466 ÷ 50.02

9.32x

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

  • Lån &r Bank is overvalued based on earnings compared to the DK Banks industry average.
  • Lån &r Bank is good value based on earnings compared to the Denmark market.
Price based on expected Growth
Does Lån &r Bank's expected growth come at a high price?
Raw Data
CPSE:LASP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
5.7%per year
Denmark Banks Industry PEG Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.01x
Denmark Market PEG Ratio Median Figure of 45 Publicly-Listed Companies 2.14x

*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 Lån &r Bank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Lån &r Bank's assets?
Raw Data
CPSE:LASP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in DKK DKK514.86
CPSE:LASP Share Price * CPSE (2019-05-24) in DKK DKK466
Denmark Banks Industry PB Ratio Median Figure of 21 Publicly-Listed Banks Companies 0.65x
Denmark Market PB Ratio Median Figure of 135 Publicly-Listed Companies 1.61x
CPSE:LASP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 466 ÷ 514.86

0.91x

* Primary Listing of Lån &r Bank.

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

  • Lån &r Bank is overvalued based on assets compared to the DK Banks industry average.
X
Value checks
We assess Lån &r 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. Lån &r Bank has a total score of 3/6, 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.

Future Performance

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

  • No analysts cover Lån &r 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
5.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Lån &r Bank expected to grow at an attractive rate?
  • Lån &r Bank's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Lån &r Bank's earnings growth is positive but not above the Denmark market average.
  • Unable to compare Lån &r Bank's revenue growth to the Denmark market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
CPSE:LASP Future Growth Rates Data Sources
Data Point Source Value (per year)
CPSE:LASP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 5.7%
Denmark Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.3%
Denmark Banks Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Denmark Market Earnings Growth Rate Market Cap Weighted Average 11.2%
Denmark Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*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
CPSE:LASP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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.
CPSE:LASP Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2019-03-31 778 -518 146
2018-12-31 765 -464 140
2018-09-30 774 -632 155
2018-06-30 775 -1,675 162
2018-03-31 763 -1,915 161
2017-12-31 766 -1,451 170
2017-09-30 751 -360 142
2017-06-30 746 -125 141
2017-03-31 745 395 139
2016-12-31 736 -1,186 139
2016-09-30 737 -2,281 143
2016-06-30 721 -2,055 131

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Lån &r Bank's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Lån &r 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
CPSE:LASP 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 0 Analyst Estimates (S&P Global) See Below

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

CPSE:LASP Past Financials Data
Date (Data in DKK Millions) EPS *
2019-03-31 50.02
2018-12-31 51.37
2018-09-30 57.29
2018-06-30 59.98
2018-03-31 59.78
2017-12-31 63.08
2017-09-30 52.66
2017-06-30 52.16
2017-03-31 51.65
2016-12-31 51.55
2016-09-30 53.15
2016-06-30 48.75

*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 Lån &r Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Lån &r 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 Denmark market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Denmark 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.
Lån &r Bank has a total score of 1/6, 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.

Past Performance

  How has Lån &r 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 Lån &r 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.
  • Lån &r Bank's year on year earnings growth rate has been positive over the past 5 years.
  • Lån &r Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Lån &r Bank's 1-year earnings growth is negative, it can't be compared to the DK Banks industry average.
Earnings and Revenue History
Lån &r 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 Lån &r Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

CPSE:LASP Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 777.88 146.34 558.51
2018-12-31 764.70 140.49 556.02
2018-09-30 773.66 154.67 554.22
2018-06-30 775.39 161.60 547.89
2018-03-31 763.39 161.42 536.91
2017-12-31 765.57 170.25 525.88
2017-09-30 750.93 142.05 525.64
2017-06-30 745.58 140.80 521.44
2017-03-31 744.58 139.09 522.59
2016-12-31 736.44 138.93 513.03
2016-09-30 737.39 142.99 530.64
2016-06-30 721.35 131.42 522.87
2016-03-31 686.13 106.07 510.94
2015-12-31 672.07 101.33 497.43
2015-09-30 636.02 94.57 464.57
2015-06-30 601.47 74.96 454.94
2015-03-31 608.54 84.87 450.35
2014-12-31 624.01 101.47 447.37
2014-09-30 640.25 121.81 441.96
2014-06-30 650.77 131.25 440.23
2014-03-31 619.63 105.86 441.80
2013-12-31 577.12 71.73 439.10
2013-09-30 563.52 57.86 469.63
2013-06-30 562.98 62.71 463.41
2013-03-31 564.65 79.83 452.31
2012-12-31 560.37 78.07 446.35
2012-09-30 545.84 81.13 434.35
2012-06-30 526.64 73.13 432.95

*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.
  • Lån &r Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Lån &r Bank used its assets less efficiently than the DK Banks industry average last year based on Return on Assets.
  • Unable to establish if Lån &r 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 Lån &r 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.
Lån &r Bank has a total score of 1/6, 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.

Health

 How is Lån &r 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 Lån &r 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 Lån &r Bank Company Filings, last reported 1 month ago.

CPSE:LASP Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,780.10 174.74 5,506.28
2018-12-31 1,780.77 161.62 7,515.07
2018-09-30 1,411.46 230.32 4,966.12
2018-06-30 1,367.67 308.00 4,288.19
2018-03-31 1,327.84 208.85 3,687.58
2017-12-31 1,345.56 207.76 5,761.37
2017-09-30 1,305.36 133.50 3,505.43
2017-06-30 1,254.88 153.11 3,865.41
2017-03-31 1,213.68 140.10 3,601.60
2016-12-31 1,193.11 167.22 4,643.14
2016-09-30 1,182.64 148.57 2,592.92
2016-06-30 1,134.03 162.13 2,733.28
2016-03-31 1,094.66 150.46 1,955.73
2015-12-31 1,078.40 143.44 2,820.97
2015-09-30 1,057.45 123.68 4,313.83
2015-06-30 1,019.79 127.17 4,219.04
2015-03-31 1,005.21 164.28 3,218.92
2014-12-31 992.14 147.51 305.15
2014-09-30 1,004.82 144.68 2,939.11
2014-06-30 986.39 149.93 2,983.40
2014-03-31 962.48 138.78 2,266.13
2013-12-31 929.87 149.39 316.04
2013-09-30 901.41 35.48 1,752.88
2013-06-30 836.20 33.12 2,130.57
2013-03-31 836.28 188.08 1,923.13
2012-12-31 837.75 41.98 1,692.29
2012-09-30 822.45 411.60 1,697.90
2012-06-30 789.98 277.80 1,701.13
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.
  • Lån &r Bank has an acceptable proportion of non-loan assets held.
  • Lån &r Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Lån &r Bank are broadly funded by customer deposits.
  • Lån &r Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Lån &r Bank has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Lån &r Bank has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Lån &r 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. Lån &r Bank has a total score of 4/6, 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.

Dividends

 What is Lån &r 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
2.15%
Current annual income from Lån &r Bank dividends.
If you bought DKK2,000 of Lån &r Bank shares you are expected to receive DKK43 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?
  • Lån &r Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Denmark (1.63%).
  • Lån &r Bank's dividend is below the markets top 25% of dividend payers in Denmark (4.77%).
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
CPSE:LASP 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
Denmark Banks Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 6.6%
Denmark Market Average Dividend Yield Market Cap Weighted Average of 78 Stocks 2.5%
Denmark Minimum Threshold Dividend Yield 10th Percentile 1%
Denmark Bottom 25% Dividend Yield 25th Percentile 1.6%
Denmark Top 25% Dividend Yield 75th Percentile 4.8%

Industry and Market average data is calculated daily.

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

CPSE:LASP Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2019-02-07 10.000 2.154
2018-02-08 10.000 2.116
2017-02-09 8.000 1.611
2016-02-09 8.000 1.978
2015-02-04 8.000 1.900
2014-02-05 7.000 1.908
2013-02-06 7.000 2.400
2012-08-27 5.000 1.811
2011-02-09 5.000 1.823
2009-11-04 0.000 0.000
2009-08-20 0.000 0.000

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

  • Whilst dividend payments have been stable, Lån &r Bank has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Lån &r Bank only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Lån &r Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5x coverage).
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 Lån &r Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Lån &r Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Lån &r Bank has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of Lån &r 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
John Christiansen
COMPENSATION DKK3,607,000
AGE 54
TENURE AS CEO 12.3 years
CEO Bio

Mr. John Christiansen has been the Chief Executive Officer at Lån & Spar Bank A/S since February 2007 and has been its Member of Executive Board. Mr. Christiansen serves as Vice-Chairman of Skandinavisk Data Center A/S, Garanti Invest and Lokale Pengeinstitutter. He serves as a Director of VP Securities A/S. He serves as a Member of the Board at Finanssektorens Uddannelsescenter and Finansrådet. He holds a Bachelor of Commerce and is a Certified Public Accountant.

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

John Christiansen

TITLE
CEO & Member of Executive Board
COMPENSATION
DKK4M
AGE
54
TENURE
12.3 yrs

Jesper Schiøler

TITLE
Bank Manager & Member of Executive Board
COMPENSATION
DKK3M
AGE
50

Keld Thornæs

TITLE
Director of Communication
Board of Directors Tenure

Average tenure and age of the Lån &r Bank board of directors in years:

5.7
Average Tenure
52.5
Average Age
  • The tenure for the Lån &r Bank board of directors is about average.
Board of Directors

Anders Christensen

TITLE
Chairman of the Board
COMPENSATION
DKK215K
AGE
59
TENURE
13.2 yrs

Claus Oxfeldt

TITLE
First Vice Chairman of the Board
COMPENSATION
DKK149K
AGE
56
TENURE
4.2 yrs

Lars Qvistgaard

TITLE
Second Vice Chairman of the Board
COMPENSATION
DKK149K
AGE
50
TENURE
3.2 yrs

Anne Toftegaard

TITLE
Director
COMPENSATION
DKK149K
AGE
51
TENURE
1.2 yrs

Grete Christensen

TITLE
Director
COMPENSATION
DKK116K
AGE
60
TENURE
9.2 yrs

Henrik Horup

TITLE
Director
COMPENSATION
DKK116K
AGE
54
TENURE
6.2 yrs

Jørn Andersen

TITLE
Director
COMPENSATION
DKK116K
AGE
62
TENURE
10.2 yrs

Klaus Jespersen

TITLE
Director
COMPENSATION
DKK116K
AGE
45
TENURE
9.2 yrs

Carsten Clausen

TITLE
Director
COMPENSATION
DKK116K
AGE
41
TENURE
5.2 yrs

Karsten Jørgensen

TITLE
Director
COMPENSATION
DKK116K
AGE
39
TENURE
5.2 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 (DKK) Value (DKK)
X
Management checks
We assess Lån &r 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. Lån &r 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.

News

Simply Wall St News

Is Lån & Spar Bank A/S (CPH:LASP) A Smart Choice For Dividend Investors?

Investors might not know much about Lån &r Bank's dividend prospects, even though it has been paying dividends for the last eight years and offers a 2.2% yield. … We're conscious though that one of the best ways to detect a multi-decade consistent dividend payer, is to watch a company pay dividends for 20 years - a distinction Lån &r Bank has not achieved yet. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Lån &r Bank has grown its earnings per share at 13% per annum over the past five years.

Simply Wall St -

What Kind Of Shareholders Own Lån & Spar Bank A/S (CPH:LASP)?

The big shareholder groups in Lån & Spar Bank A/S (CPH:LASP) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Lån &r Bank is a smaller company with a market capitalization of ø1.6b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Did You Miss Lån &r Bank's (CPH:LASP) 55% Share Price Gain?

For example, the Lån & Spar Bank A/S (CPH:LASP) share price is up 55% in the last five years, slightly above the market return. … During five years of share price growth, Lån &r Bank achieved compound earnings per share (EPS) growth of 14% per year. … This EPS growth is higher than the 9.1% average annual increase in the share price.

Simply Wall St -

Does Lån & Spar Bank A/S's (CPH:LASP) CEO Salary Reflect Performance?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Our data indicates that Lån & Spar Bank A/S is worth ø1.6b, and total annual CEO compensation is ø3.6m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at ø3.0m.

Simply Wall St -

Three Understated Metrics For Lån & Spar Bank A/S (CPH:LASP) You Should Know

As a small-cap finance stock with a market capitalisation of ø1.6b, the risk and profitability of Lån & Spar Bank A/S (CPH:LASP) are largely tied to the underlying economic growth of the region it operates in DK. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels. … High liquidity and low leverage could position Lån &r Bank favourably at the face of macro headwinds.

Simply Wall St -

How Does Lån & Spar Bank A/S (CPH:LASP) Fare As A Dividend Stock?

Historically, Lån & Spar Bank A/S (CPH:LASP) has paid a dividend to shareholders. … Does Lån &r Bank tick all the boxes of a great dividend stock? … Check out our latest analysis for Lån &r Bank

Simply Wall St -

Don't Sell Lån & Spar Bank A/S (CPH:LASP) Before You Read This

We'll look at Lån & Spar Bank A/S's (CPH:LASP) P/E ratio and reflect on what it tells us about the company's share price. … Lån &r Bank has a P/E ratio of 8.02, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Can These Factors Give You An Edge In Lån & Spar Bank A/S (CPH:LASP)?

As a small-cap bank stock with a market capitalisation of ø1.29b, Lån & Spar Bank A/S’s (CPH:LASP) risk and profitability are largely determined by the underlying economic growth of the DK regions in which it operates. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like Lån &r Bank to vulnerabilities. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels.

Simply Wall St -

Should You Sell Lån & Spar Bank A/S (CPH:LASP) At This PE Ratio?

and want to begin learning the link between Lån & Spar Bank A/S (CPH:LASP)’s fundamentals and stock market performance. … Lån & Spar Bank A/S (CPH:LASP) trades with a trailing P/E of 7.9x, which is higher than the industry average of 7x. … While this makes LASP appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio

Simply Wall St -

Is Lån & Spar Bank A/S (CPSE:LASP) A Great Dividend Stock?

In the past 10 years Lån & Spar Bank A/S (CPSE:LASP) has returned an average of 1.00% per year to investors in the form of dividend payouts. … Let's take a look at Lån &r Bank in more detail. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

Company Info

Description

Lån & Spar Bank A/S provides various banking products and services in Denmark. The company offers deposits; car and housing loans, business loans, and mortgages; and cards. It also provides investment, and pension and insurance services; and Internet banking and payment services. The company is based in Copenhagen, Denmark.

Details
Name: Lån & Spar Bank A/S
LASP
Exchange: CPSE
Founded:
DKK1,610,095,706
3,455,141
Website: http://www.lsb.dk
Address: Lån & Spar Bank A/S
Højbro Plads 9-11,
Copenhagen,
Capital Region of Denmark, 1200,
Denmark
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
CPSE LASP Share Capital OMX Nordic Exchange Copenhagen DK DKK 11. May 1994
BATS-CHIXE LASPC Share Capital BATS 'Chi-X Europe' GB DKK 11. May 1994
Number of employees
Current staff
Staff numbers
0
Lån &r Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 20:36
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/05/13
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.