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SPNO

Spar Nord BankCPSE:SPNO Stock Report

Last Price

kr.97.20

Market Cap

kr.11.9b

7D

7.9%

1Y

59.3%

Updated

17 Jan, 2022

Data

Company Financials +
SPNO fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health4/6
Dividends3/6

SPNO Stock Overview

Spar Nord Bank A/S provides various banking products and services to retail, business, and public sector customers in Denmark.

Price History & Performance

Summary of all time highs, changes and price drops for Spar Nord Bank
Historical stock prices
Current Share Pricekr.97.20
52 Week Highkr.106.20
52 Week Lowkr.54.90
Beta0.95
1 Month Change18.39%
3 Month Change17.96%
1 Year Change59.34%
3 Year Change74.19%
5 Year Change21.58%
Change since IPO278.21%

Recent News & Updates

Shareholder Returns

SPNODK BanksDK Market
7D7.9%6.3%-1.3%
1Y59.3%28.1%9.9%

Return vs Industry: SPNO exceeded the Danish Banks industry which returned 31.9% over the past year.

Return vs Market: SPNO exceeded the Danish Market which returned 10.1% over the past year.

Price Volatility

Is SPNO's price volatile compared to industry and market?
SPNO volatility
SPNO Average Weekly Movement4.6%
Banks Industry Average Movement3.5%
Market Average Movement5.1%
10% most volatile stocks in DK Market10.2%
10% least volatile stocks in DK Market3.0%

Stable Share Price: SPNO is not significantly more volatile than the rest of Danish stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SPNO's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18241,624Lasse Nybyhttps://www.sparnord.com

Spar Nord Bank A/S provides various banking products and services to retail, business, and public sector customers in Denmark. It offers deposits, loans, advances, and guarantees; and mortgage loans, as well as custodianship accounts. The company also provides leasing products; and trading services in the field of equities, bonds, interest and forex, asset management, and international transactions.

Spar Nord Bank Fundamentals Summary

How do Spar Nord Bank's earnings and revenue compare to its market cap?
SPNO fundamental statistics
Market Capkr.11.95b
Earnings (TTM)kr.1.22b
Revenue (TTM)kr.3.81b

9.8x

P/E Ratio

1.0x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SPNO income statement (TTM)
Revenuekr.3.81b
Cost of Revenuekr.0
Gross Profitkr.3.81b
Expenseskr.2.59b
Earningskr.1.22b

Dividends

1.5%

Current Dividend Yield

15%

Payout Ratio

Valuation

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

42.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SPNO (DKK97.2) is trading below our estimate of fair value (DKK167.46)

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


Price To Earnings Ratio

PE vs Industry: SPNO's PE Ratio (9.8x) is in line with the Danish Banks industry average.

PE vs Market: SPNO is good value based on its PE Ratio (9.8x) compared to the Danish market (17x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SPNO's PB Ratio (1x) is in line with the DK Banks industry average.


Future Growth

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

-4.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPNO's earnings are forecast to decline over the next 3 years (-4% per year).

Earnings vs Market: SPNO's earnings are forecast to decline over the next 3 years (-4% per year).

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

Revenue vs Market: SPNO's revenue (0.8% per year) is forecast to grow slower than the Danish market (6.7% per year).

High Growth Revenue: SPNO's revenue (0.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SPNO's Return on Equity is forecast to be low in 3 years time (10.1%).


Past Performance

How has Spar Nord Bank performed over the past 5 years?

0.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SPNO has a high level of non-cash earnings.

Growing Profit Margin: SPNO's current net profit margins (31.9%) are higher than last year (21.8%).


Past Earnings Growth Analysis

Earnings Trend: SPNO's earnings have grown by 0.4% per year over the past 5 years.

Accelerating Growth: SPNO's earnings growth over the past year (89.5%) exceeds its 5-year average (0.4% per year).

Earnings vs Industry: SPNO earnings growth over the past year (89.5%) exceeded the Banks industry 61.1%.


Return on Equity

High ROE: SPNO's Return on Equity (10.5%) is considered low.


Financial Health

How is Spar Nord 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


Financial Institutions Analysis

Asset Level: SPNO's Assets to Equity ratio (9.6x) is low.

Allowance for Bad Loans: SPNO has a low allowance for bad loans (83%).

Low Risk Liabilities: 85% of SPNO's liabilities are made up of primarily low risk sources of funding.

Loan Level: SPNO has an appropriate level of Loans to Assets ratio (41%).

Low Risk Deposits: SPNO's Loans to Deposits ratio (54%) is appropriate.

Level of Bad Loans: SPNO has a high level of bad loans (3.7%).


Dividend

What is Spar Nord Bank current dividend yield, its reliability and sustainability?

1.54%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SPNO's dividend (1.54%) is higher than the bottom 25% of dividend payers in the Danish market (1.17%).

High Dividend: SPNO's dividend (1.54%) is low compared to the top 25% of dividend payers in the Danish market (3.24%).


Stability and Growth of Payments

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

Growing Dividend: SPNO's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (14.6%), SPNO's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SPNO's dividends in 3 years are forecast to be covered by earnings (57.7% payout ratio).


Next Steps

Management

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

11.8yrs

Average management tenure


CEO

Lasse Nyby (61 yo)

27yrs

Tenure

kr.5,700,000

Compensation

Mr. Lasse Nyby serves as a Director of Foreningen Ap Pension F M B A and serves as its Vice Chairman of the Board since 2021. He serves as Vice Chairman at AP Pension Livsforsikringsaktieselskab. He had be...


CEO Compensation Analysis

Compensation vs Market: Lasse's total compensation ($USD873.60K) is below average for companies of similar size in the Danish market ($USD1.39M).

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


Leadership Team

Experienced Management: SPNO's management team is seasoned and experienced (11.8 years average tenure).


Board Members

Experienced Board: SPNO's board of directors are considered experienced (5.8 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Spar Nord Bank A/S's employee growth, exchange listings and data sources


Key Information

  • Name: Spar Nord Bank A/S
  • Ticker: SPNO
  • Exchange: CPSE
  • Founded: 1824
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: kr.11.947b
  • Shares outstanding: 122.91m
  • Website: https://www.sparnord.com

Number of Employees


Location

  • Spar Nord Bank A/S
  • Skelagervej 15
  • PO Box 162
  • Aalborg
  • North Denmark Region
  • 9100
  • Denmark

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/17 23:02
End of Day Share Price2022/01/17 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.