CPSE:SPKSJF

Stock Analysis Report

Sparekassen Sjælland-Fyn

Executive Summary

Sparekassen Sjælland-Fyn A/S, a savings bank, provides banking products and services to private individuals and corporate customers.


Snowflake Analysis

Solid track record with adequate balance sheet.

Share Price & News

How has Sparekassen Sjælland-Fyn's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.8%

SPKSJF

0.9%

DK Banks

2.7%

DK Market


1 Year Return

14.3%

SPKSJF

20.5%

DK Banks

28.5%

DK Market

Return vs Industry: SPKSJF underperformed the Danish Banks industry which returned 20.5% over the past year.

Return vs Market: SPKSJF underperformed the Danish Market which returned 28.5% over the past year.


Shareholder returns

SPKSJFIndustryMarket
7 Day-1.8%0.9%2.7%
30 Day3.6%3.7%6.4%
90 Day9.6%10.2%16.5%
1 Year17.6%14.3%25.2%20.5%32.4%28.5%
3 Year-16.6%-21.4%9.9%-21.0%63.2%49.2%
5 Yearn/a44.7%1.0%74.2%49.6%

Price Volatility Vs. Market

How volatile is Sparekassen Sjælland-Fyn's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Sparekassen Sjælland-Fyn undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SPKSJF (DKK97.8) is trading below our estimate of fair value (DKK270.05)

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


Price To Earnings Ratio

PE vs Industry: SPKSJF is poor value based on its PE Ratio (8.4x) compared to the Banks industry average (7.7x).

PE vs Market: SPKSJF is good value based on its PE Ratio (8.4x) compared to the Danish market (17.5x).


Price to Earnings Growth Ratio

PEG Ratio: SPKSJF is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: SPKSJF is overvalued based on its PB Ratio (0.8x) compared to the DK Banks industry average (0.7x).


Next Steps

Future Growth

How is Sparekassen Sjælland-Fyn forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

8.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPKSJF's forecast earnings growth (8% per year) is above the savings rate (-0.3%).

Earnings vs Market: SPKSJF's earnings (8% per year) are forecast to grow slower than the Danish market (12.1% per year).

High Growth Earnings: SPKSJF's earnings are forecast to grow, but not significantly.

Revenue vs Market: SPKSJF's revenue (2.7% per year) is forecast to grow slower than the Danish market (6% per year).

High Growth Revenue: SPKSJF's revenue (2.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SPKSJF's Return on Equity is forecast to be low in 3 years time (7.8%).


Next Steps

Past Performance

How has Sparekassen Sjælland-Fyn performed over the past 5 years?

13.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SPKSJF has high quality earnings.

Growing Profit Margin: SPKSJF's current net profit margins (21%) are higher than last year (14.2%).


Past Earnings Growth Analysis

Earnings Trend: SPKSJF's earnings have grown by 13.1% per year over the past 5 years.

Accelerating Growth: SPKSJF's earnings growth over the past year (53.1%) exceeds its 5-year average (13.1% per year).

Earnings vs Industry: SPKSJF earnings growth over the past year (53.1%) exceeded the Banks industry 12.2%.


Return on Equity

High ROE: SPKSJF's Return on Equity (7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Sparekassen Sjælland-Fyn'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: SPKSJF has a low level of unsold assets or inventory.

Debt Coverage by Assets: SPKSJF's debt is covered by short term assets (assets are 2.5x debt).


Financial Institutions Analysis

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

Allowance for Bad Loans: Insufficient data to determine if SPKSJF has a sufficient allowance for bad loans.

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

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

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

Level of Bad Loans: Insufficient data to determine if SPKSJF has an appropriate level of bad loans.


Next Steps

Dividend

What is Sparekassen Sjælland-Fyn's current dividend yield, its reliability and sustainability?

2.56%

Current Dividend Yield


Upcoming Dividend Payment

TodayFeb 20 2020Ex Dividend DateMar 05 2020Dividend Pay DateMar 09 20204 days from Ex DividendBuy in the next 13 days to receive upcoming dividend

Dividend Yield vs Market

Notable Dividend: SPKSJF's dividend (2.56%) is higher than the bottom 25% of dividend payers in the Danish market (1.4%).

High Dividend: SPKSJF's dividend (2.56%) is low compared to the top 25% of dividend payers in the Danish market (4.62%).


Stability and Growth of Payments

Stable Dividend: SPKSJF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SPKSJF has only been paying a dividend for 4 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.4%), SPKSJF's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SPKSJF's dividends in 3 years are forecast to be well covered by earnings (27.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Lars Petersson (52yo)

10.1yrs

Tenure

ø5,117,000

Compensation

Mr. Lars Petersson serves as Chief Executive Officer, Managing Director & Member of Executive Board at Sparekassen Sjælland-Fyn A/S. Mr. Petersson serves as Chief Executive Officer and Managing Director of ...


CEO Compensation Analysis

Compensation vs Market: Lars's total compensation ($USD739.69K) is about average for companies of similar size in the Danish market ($USD576.61K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Lars Petersson
MD, CEO & Member of Executive Board10.1yrsø5.12m0.067% DKK1.1m
Bruno Riis-Nielsen
Savings Bank Director & Member of Executive Board0yrsø3.98m0.046% DKK784.8k
Lars Bolding
Savings Bank Director1.1yrsø3.34mno data
Jens Trane
Chief Financial Officer0yrsno datano data
Thomas Sandal
Chief Audit Officer0yrsno datano data
Pia Blæsbjerg
Compliance & Complaints Officer0yrsno datano data
Marianne Salling
Sales & Marketing Manager2.1yrsno datano data
Bettina Krohn
HR Director0yrsno datano data
Lars Mikkelsen
Head of Credits0yrsno datano data
Kim Jensen
Head of Markets0yrsno datano data

2.1yrs

Average Tenure

55yo

Average Age

Experienced Management: SPKSJF's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Lars Bolding
Savings Bank Director1.1yrsø3.34mno data
Otto Spliid
Independent Director7.1yrsø220.00k0.0023% DKK39.1k
Bent Andersen
Independent Director5.1yrsø420.00k0.0036% DKK61.3k
Erik Larsen
Independent Director7.1yrsø235.00k0.024% DKK401.7k
Jakob Andersson
Independent Vice Chairman of the Board7.1yrsø470.00k0.063% DKK1.1m
Thomas Kullegaard
Independent Chairman of the Board8.1yrsø585.00k0.083% DKK1.4m
Per Olsen
Development Director & Director26.1yrsø235.00k0.031% DKK523.0k
Helle Lindhof Bjornoe
Director5.1yrsø205.00k0.015% DKK261.3k
Mads Wallin
Director4.1yrsø205.00k0.0044% DKK75.2k
Kirsten Nielsen
Director1.1yrsø176.00kno data

6.1yrs

Average Tenure

56yo

Average Age

Experienced Board: SPKSJF's board of directors are considered experienced (6.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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 been diluted in the past year, with total shares outstanding growing by 21.2%.


Top Shareholders

Company Information

Sparekassen Sjælland-Fyn A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sparekassen Sjælland-Fyn A/S
  • Ticker: SPKSJF
  • Exchange: CPSE
  • Founded: 1825
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ø1.694b
  • Shares outstanding: 17.32m
  • Website: https://www.spks.dk

Number of Employees


Location

  • Sparekassen Sjælland-Fyn A/S
  • Isefjords Alle 5
  • Holbæk
  • Zealand Region
  • 4300
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SPKSJFCPSE (OMX Nordic Exchange Copenhagen)YesBearer SharesDKDKKDec 2015
SPKSJCBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBDKKDec 2015
0RD0LSE (London Stock Exchange)YesBearer SharesGBDKKDec 2015

Biography

Sparekassen Sjælland-Fyn A/S, a savings bank, provides banking products and services to private individuals and corporate customers. It offers savings accounts, cards, insurance products, foreign trade services, investment products, portfolio management, equity products, housing loans, pension products, and online banking services The company was formerly known as Sparekassen Sjælland A/S and changed its name to Sparekassen Sjælland-Fyn A/S in May 2016. Sparekassen Sjælland-Fyn A/S was founded in 1825 and is based in Holbæk, Denmark. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 23:05
End of Day Share Price2020/02/19 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.