Spar Nord Bank
Spar Nord Bank A/S provides various banking products and services to retail, business, and public sector customers in Denmark. The last earnings update was 74 days ago. More info.
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SPNO Share Price and Events
7 Day Returns
1 Year Returns
SPNO Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Spar Nord Bank (SPNO) | 3.4% | 5.1% | 2.7% | -12% | 15.4% | 3.4% |
| DK Banks | -2% | -4% | -13.1% | -37.9% | -31.5% | -26.6% |
| DK Market | -2.2% | -1% | -1% | -0.8% | 9.6% | 34.6% |
1 Year Return vs Industry and Market
- SPNO outperformed the Banks industry which returned -37.9% over the past year.
- SPNO underperformed the Market in Denmark which returned -0.8% over the past year.
SPNO Value
Is Spar Nord 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
Spar Nord 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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Spar Nord Bank.
| 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 = DKK78.43 * 10.6% |
DKK8.30 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 3 analysts. | DKK78.43 |
| Discount Rate (Cost of Equity) | See below | 6.5% |
| 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.
| 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))
= 0.597 (1 + (1- 22%) (105.4%)) |
1.058 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.06 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.21% + (1.058 * 5.96%) |
6.52% |
Discounted Cash Flow Calculation for CPSE:SPNO using Excess Returns Model Model
The calculations below outline how an intrinsic value for Spar Nord 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.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (10.6% – 6.52%) * DKK78.43) |
DKK3.18 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= DKK3.18 / (6.52% - 0.21%) |
DKK50.46 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= DKK78.43 + DKK50.46 |
DKK128.89 |
| Calculation | Result | |
|---|---|---|
| Value per share (DKK) | From above. | DKK128.89 |
| Current discount | Discount to share price of
DKK60.00
= -1 x (DKK60.00 - DKK128.89) / DKK128.89 |
53.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Spar Nord Bank's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Spar Nord 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 Spar Nord Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Spar Nord Bank's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in DKK | DKK6.69 |
| CPSE:SPNO Share Price ** | CPSE (2019-07-15) in DKK | DKK60 |
| Denmark Banks Industry PE Ratio | Median Figure of 21 Publicly-Listed Banks Companies | 8.58x |
| Denmark Market PE Ratio | Median Figure of 100 Publicly-Listed Companies | 17.73x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Spar Nord Bank.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = CPSE:SPNO Share Price ÷ EPS (both in DKK) = 60 ÷ 6.69 |
8.96x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spar Nord Bank is overvalued based on earnings compared to the DK Banks industry average.
- Spar Nord Bank is good value based on earnings compared to the Denmark market.
Price based on expected Growth
Does
Spar Nord Bank's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 8.96x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
-2.6%per year |
| Denmark Banks Industry PEG Ratio | Median Figure of 6 Publicly-Listed Banks Companies | 0.04x |
| Denmark Market PEG Ratio | Median Figure of 44 Publicly-Listed Companies | 2.11x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 8.96x ÷ -2.6% |
-3.46x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spar Nord Bank earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Spar Nord Bank's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in DKK | DKK77.29 |
| CPSE:SPNO Share Price * | CPSE (2019-07-15) in DKK | DKK60 |
| Denmark Banks Industry PB Ratio | Median Figure of 21 Publicly-Listed Banks Companies | 0.64x |
| Denmark Market PB Ratio | Median Figure of 136 Publicly-Listed Companies | 1.55x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = CPSE:SPNO Share Price ÷ Book Value per Share (both in DKK) = 60 ÷ 77.29 |
0.78x |
* Primary Listing of Spar Nord Bank.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spar Nord Bank is overvalued based on assets compared to the DK Banks industry average.
Value checks
We assess Spar Nord Bank's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) Spar Nord 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.
SPNO Future Performance
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!
Earnings growth vs Low Risk Savings
- Spar Nord Bank's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
- Spar Nord Bank's earnings are expected to decrease over the next 1-3 years, this is below the Denmark market average.
- Spar Nord Bank's revenue growth is positive but not above the Denmark market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| CPSE:SPNO Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts | -2.6% |
| CPSE:SPNO Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | 0.8% |
| Denmark Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 2.6% |
| Denmark Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 1.8% |
| Denmark Market Earnings Growth Rate | Market Cap Weighted Average | 10.5% |
| Denmark Market Revenue Growth Rate | Market Cap Weighted Average | 6.2% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Date (Data in DKK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 3,214 | 841 | 3 | |
| 2020-12-31 | 3,150 | 812 | 3 | |
| 2019-12-31 | 3,232 | 917 | 3 |
| Date (Data in DKK Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 3,019 | -987 | 835 |
| 2018-12-31 | 3,017 | -1,776 | 883 |
| 2018-09-30 | 3,197 | -1,049 | 1,003 |
| 2018-06-30 | 3,204 | -2,115 | 1,008 |
| 2018-03-31 | 3,170 | -3,054 | 947 |
| 2017-12-31 | 3,188 | -1,796 | 953 |
| 2017-09-30 | 3,133 | -1,012 | 927 |
| 2017-06-30 | 3,181 | -1,572 | 1,010 |
| 2017-03-31 | 3,094 | -2,676 | 970 |
| 2016-12-31 | 2,906 | -1,636 | 818 |
| 2016-09-30 | 2,809 | -4,776 | 797 |
| 2016-06-30 | 2,651 | -7,957 | 637 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
All data from Spar Nord Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in DKK Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 7.00 | 7.14 | 6.90 | 3.00 |
| 2020-12-31 | 6.65 | 6.82 | 6.51 | 3.00 |
| 2019-12-31 | 7.46 | 7.76 | 7.29 | 3.00 |
| Date (Data in DKK Millions) | EPS * |
|---|---|
| 2019-03-31 | 6.69 |
| 2018-12-31 | 7.18 |
| 2018-09-30 | 8.15 |
| 2018-06-30 | 8.26 |
| 2018-03-31 | 7.74 |
| 2017-12-31 | 7.75 |
| 2017-09-30 | 7.51 |
| 2017-06-30 | 8.13 |
| 2017-03-31 | 7.81 |
| 2016-12-31 | 6.59 |
| 2016-09-30 | 6.28 |
| 2016-06-30 | 5.06 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Spar Nord Bank's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Denmark market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Denmark market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Spar Nord Bank has a total score of 0/6, 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.
SPNO Past Performance
How has Spar Nord 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
Past Earnings growth analysis
- Spar Nord Bank's year on year earnings growth rate has been positive over the past 5 years.
- Spar Nord Bank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Spar Nord Bank's 1-year earnings growth is negative, it can't be compared to the DK Banks industry average.
Earnings and Revenue History
All data from Spar Nord Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in DKK Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 3,019.00 | 835.00 | 1,352.00 | |
| 2018-12-31 | 3,017.00 | 883.00 | 1,329.00 | |
| 2018-09-30 | 3,197.00 | 1,003.00 | 1,232.00 | |
| 2018-06-30 | 3,204.00 | 1,008.00 | 1,233.00 | |
| 2018-03-31 | 3,170.00 | 947.00 | 1,226.00 | |
| 2017-12-31 | 3,188.00 | 953.00 | 1,375.00 | |
| 2017-09-30 | 3,133.10 | 926.70 | 1,926.70 | |
| 2017-06-30 | 3,180.80 | 1,010.40 | 1,898.90 | |
| 2017-03-31 | 3,093.60 | 970.30 | 1,868.40 | |
| 2016-12-31 | 2,906.00 | 818.00 | 1,869.00 | |
| 2016-09-30 | 2,808.80 | 797.40 | 1,814.80 | |
| 2016-06-30 | 2,651.10 | 636.80 | 1,817.10 | |
| 2016-03-31 | 2,627.30 | 587.10 | 1,825.10 | |
| 2015-12-31 | 2,990.90 | 886.50 | 1,836.20 | |
| 2015-09-30 | 2,918.20 | 757.70 | 1,955.70 | |
| 2015-06-30 | 2,939.30 | 805.50 | 1,938.20 | |
| 2015-03-31 | 2,857.10 | 766.20 | 1,916.30 | |
| 2014-12-31 | 2,629.60 | 613.60 | 1,888.60 | |
| 2014-09-30 | 2,705.40 | 788.00 | 1,738.90 | |
| 2014-06-30 | 2,627.10 | 716.70 | 1,735.40 | |
| 2014-03-31 | 2,670.60 | 706.80 | 1,783.20 | |
| 2013-12-31 | 2,485.90 | 536.10 | 1,768.70 | |
| 2013-09-30 | 2,308.50 | 379.30 | 1,790.50 | |
| 2013-06-30 | 2,192.40 | 351.30 | 1,730.90 | |
| 2013-03-31 | 1,891.40 | 224.30 | 1,610.60 | |
| 2012-12-31 | 1,789.10 | 197.50 | 1,542.20 | |
| 2012-09-30 | 1,750.80 | 245.80 | 1,458.80 |
*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.
- Spar Nord Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Spar Nord Bank used its assets less efficiently than the DK Banks industry average last year based on Return on Assets.
- Unable to establish if Spar Nord Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess Spar Nord Bank's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Spar Nord 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.
SPNO Health
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.
Balance sheet
Assets
Liabilities and shares
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.
All data from Spar Nord Bank Company Filings, last reported 3 months ago.
| Date (Data in DKK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 9,500.00 | 7,773.00 | 9,180.00 |
| 2018-12-31 | 9,241.00 | 4,060.00 | 24,364.00 |
| 2018-09-30 | 9,184.00 | 7,762.00 | 11,267.00 |
| 2018-06-30 | 8,960.00 | 5,773.00 | 11,745.00 |
| 2018-03-31 | 9,094.00 | 5,823.00 | 9,985.00 |
| 2017-12-31 | 8,975.00 | 3,553.00 | 24,159.00 |
| 2017-09-30 | 8,792.50 | 4,624.10 | 13,013.80 |
| 2017-06-30 | 8,565.50 | 4,589.20 | 10,807.70 |
| 2017-03-31 | 8,948.00 | 4,353.20 | 9,856.60 |
| 2016-12-31 | 8,627.00 | 4,158.00 | 25,385.00 |
| 2016-09-30 | 8,073.50 | 5,688.10 | 9,344.70 |
| 2016-06-30 | 7,799.20 | 5,409.80 | 9,114.60 |
| 2016-03-31 | 8,030.00 | 9,717.40 | 11,513.70 |
| 2015-12-31 | 7,887.00 | 6,674.40 | 25,069.80 |
| 2015-09-30 | 7,767.60 | 9,242.70 | 12,405.50 |
| 2015-06-30 | 7,218.70 | 10,557.20 | 13,300.90 |
| 2015-03-31 | 7,498.40 | 11,298.10 | 7,379.50 |
| 2014-12-31 | 7,033.00 | 14,145.90 | 27,723.40 |
| 2014-09-30 | 7,047.40 | 13,650.70 | 7,181.10 |
| 2014-06-30 | 6,854.90 | 13,363.30 | 6,244.50 |
| 2014-03-31 | 6,854.10 | 12,652.50 | 6,800.70 |
| 2013-12-31 | 6,532.70 | 12,768.80 | 25,631.70 |
| 2013-09-30 | 6,377.00 | 13,256.60 | 6,150.30 |
| 2013-06-30 | 6,248.70 | 14,366.00 | 6,364.20 |
| 2013-03-31 | 6,142.80 | 18,150.00 | 7,297.50 |
| 2012-12-31 | 5,975.30 | 19,539.20 | 28,701.60 |
| 2012-09-30 | 5,704.30 | 18,408.60 | 7,299.90 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- Spar Nord Bank has an acceptable proportion of non-loan assets held.
- Spar Nord Bank's liabilities are made up of primarily low risk sources of funding.
- Loans at Spar Nord Bank are broadly funded by customer deposits.
- Spar Nord Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
- Spar Nord Bank has a low allowance for bad loans.
- Spar Nord Bank has a high level of bad loans (greater than 2%).
Financial health checks
We assess Spar Nord Bank's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Spar Nord Bank has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
SPNO Dividends
What is Spar Nord 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
If you bought
DKK2,000 of
Spar Nord Bank
shares you are expected to receive
DKK117
in your first year as a dividend.
Dividend Amount
- Spar Nord Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Denmark (1.61%).
- Spar Nord Bank's dividend is above the markets top 25% of dividend payers in Denmark (4.73%).
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.
| 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 3 Analyst Estimates (S&P Global) | See Below |
| Denmark Banks Industry Average Dividend Yield | Market Cap Weighted Average of 15 Stocks | 7% |
| Denmark Market Average Dividend Yield | Market Cap Weighted Average of 77 Stocks | 2.4% |
| Denmark Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
| Denmark Bottom 25% Dividend Yield | 25th Percentile | 1.6% |
| Denmark Top 25% Dividend Yield | 75th Percentile | 4.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in DKK) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 3.42 | 3.00 |
| 2020-12-31 | 3.47 | 3.00 |
| 2019-12-31 | 3.69 | 3.00 |
| Date (Data in DKK) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-07 | 3.500 | 6.079 |
| 2018-02-08 | 3.500 | 5.584 |
| 2017-02-09 | 5.000 | 6.410 |
| 2016-02-10 | 3.000 | 4.828 |
| 2015-02-05 | 1.600 | 2.361 |
| 2015-01-15 | 1.600 | 2.702 |
| 2014-02-06 | 1.000 | 1.699 |
| 2009-10-28 | 0.000 | 0.000 |
| 2009-08-12 | 0.000 | 0.000 |
| 2009-04-29 | 0.000 | 0.000 |
| 2009-02-04 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Spar Nord 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 Spar Nord Bank only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of
Spar Nord Bank's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.9x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
Income/ dividend checks
We assess Spar Nord Bank's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Spar Nord Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Spar Nord Bank has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
SPNO Management
CEO
| COMPENSATION | DKK5,100,000 |
| AGE | 59 |
| TENURE AS CEO | 18.8 years |
CEO Bio
Mr. Lasse Nyby has been Chief Executive Officer of Spar Nord Bank A/S at Spar Nord Leasing A/S since October 2000. Mr. Nyby serves as Member of Management Board of Spar Nord Bank A/S at Spar Nord Leasing A/S. He has been Member of Executive Board at Spar Nord Bank A/S since 1995. He served as Head of Credit Rating at Spar Nord Bank A/S since 1990. He joined Spar Nord Bank as an Adviser of Credit Rating in 1986. He started his career in Privatbanken in 1979. Mr. Nyby serves as Chairman of the board of directors of Aktieselskabet Skelagervej 15 and Landsdækkende Banker. Mr. Nyby serves as the Chairman of Supervisory Board of Spar Nord Leasing A/S, FSP Pension, Regionale Bankers Forening, JSNFA Holding A/S, Advizer ApS, Finans Nord A/S and Spar Nords Ejendoms-selskab A/S. Mr. Nyby serves as Member of the Supervisory Board of Spar Nord Bank A/S at Spar Nord Leasing A/S. He has been a Director at Nykredit Holding A/S since March 28, 2007. He serves as a Director of Foreningen Ap Pension F M B A, Spar Nord Finanslån A/S, Dansk AMP A/S, FR I af 16, since September 2015 A/S, AP Pension Livsforsikringsaktieselskab, AP Pensionsservice A/S, FinansDanmark and Vækst-Invest Nordjylland A/S. He has been a Director of Totalkredit A/S since August 9, 2017. He has been Deputy Chairman of PRAS A/S. He served as a Director of Totalkredit A/S until March 2007. He served as Director of Advizer K/S and Erhvervsinvest Management A/S (also known as Erhvervsinvest Nord A/S). Mr. Nyby holds BCom (Management Accounting) and an Executive education from INSEAD.
CEO Compensation
- Lasse's compensation has been consistent with company performance over the past year, both up more than 20%.
- Lasse's remuneration is lower than average for companies of similar size in Denmark.
Management Team Tenure
Average tenure and age of the Spar Nord Bank management team in years:
- The average tenure for the Spar Nord Bank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Lasse Nyby
CEO & Member of Executive Board
DKK5M
59
18.8 yrs
Lars Møller
Managing Director & Member of Executive Board
DKK4M
62
19.3 yrs
John Lundsgaard
Managing Director & Member of Executive Board
DKK4M
55
19.5 yrs
Thorkild Mathiesen
General Manager of Finance & Accounts
Trine Haals
Principal Administrative Officer
60
Karin Duerlund
Head of Legal Department
Jan Poulsen
Head of Funding
58
Poul Christensen
Senior Vice President
67
Ole Madsen
Senior Vice President of Communication & Business Development
Kai Max-Jakobsen
Managing Director of Vejgaard
Board of Directors Tenure
Average tenure and age of the Spar Nord Bank board of directors in years:
- The tenure for the Spar Nord Bank board of directors is about average.
Board of Directors
Kjeld Johannesen
Chairman
DKK800K
66
3.3 yrs
Per Bukh
Deputy Chairman of the Board
DKK600K
54
3.3 yrs
Kaj Christiansen
Director
DKK400K
64
7.3 yrs
Jannie Skovsen
Director
DKK300K
54
11.5 yrs
Laila Mortensen
Director
DKK400K
54
7.3 yrs
Gitte Sørensen
Director
DKK300K
54
7.5 yrs
John Sørensen
Director
DKK400K
62
4.3 yrs
Morten Gaardboe
Director
DKK300K
51
3.3 yrs
Lene Aaen
Director
DKK200K
49
1.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (DKK) | Value (DKK) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Spar Nord Bank's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Spar Nord 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.
SPNO News
Simply Wall St News
Why Spar Nord Bank A/S's (CPH:SPNO) CEO Pay Matters To You
Lasse Nyby became the CEO of Spar Nord Bank A/S (CPH:SPNO) in 2000. … View our latest analysis for Spar Nord Bank How Does Lasse Nyby's Compensation Compare With Similar Sized Companies? … Most shareholders would consider it a positive that Lasse Nyby takes less total compensation than the CEOs of most similar size companies, leaving more for shareholders.
Simply Wall St - – Full articleSome Spar Nord Bank (CPH:SPNO) Shareholders Are Down 19%
That downside risk was realized by Spar Nord Bank A/S (CPH:SPNO) shareholders over the last year, as the share price declined 19%. … As it happens, Spar Nord Bank's TSR for the last year was -14%, which exceeds the share price return mentioned earlier. … A Different Perspective Investors in Spar Nord Bank had a tough year, with a total loss of 14% (including dividends), against a market gain of about 6.2%.
Simply Wall St - – Full articleDo Directors Own Spar Nord Bank A/S (CPH:SPNO) Shares?
See our latest analysis for Spar Nord Bank CPSE:SPNO Ownership Summary, May 22nd 2019 What Does The Institutional Ownership Tell Us About Spar Nord Bank? … We can see that Spar Nord Bank does have institutional investors; and they hold 29% of the stock. … Insider Ownership Of Spar Nord Bank The definition of an insider can differ slightly between different countries, but members of the board of directors always count.
Simply Wall St - – Full articleCan Spar Nord Bank A/S (CPH:SPNO) Survive The Next Financial Crisis?
Spar Nord Bank A/S’s (CPH:SPNO) profitability and risk are largely affected by the underlying economic growth for the region it operates in DK given it is a small-cap stock with a market capitalisation of ø7.3b. … 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 Spar Nord Bank favourably at the face of macro headwinds.
Simply Wall St - – Full articleHow Does Spar Nord Bank A/S (CPH:SPNO) Stand Up To These Simple Dividend Safety Checks?
Today we'll take a closer look at Spar Nord Bank A/S (CPH:SPNO) from a dividend investor's perspective. … Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … In this case, Spar Nord Bank likely looks attractive to dividend investors, given its 6.0% dividend yield and five-year payment history.
Simply Wall St - – Full articleShould You Worry About Spar Nord Bank A/S's (CPH:SPNO) CEO Salary Level?
Lasse Nyby has been the CEO of Spar Nord Bank A/S (CPH:SPNO) since 2000. … How Does Lasse Nyby's Compensation Compare With Similar Sized Companies. … Our data indicates that Spar Nord Bank A/S is worth ø7.2b, and total annual CEO compensation is ø5.1m.
Simply Wall St - – Full articleThree Key Risk For Spar Nord Bank A/S (CPH:SPNO) You Should Know
As a small bank, Spar Nord Bank’s profits are directly affected by macroeconomic events as the ability for borrowers to repay their debt depends on the stability of their salary and interest rate levels. … Bad debt is directly written off as an expense which impacts Spar Nord Bank’s bottom line and shareholders’ value. … I will take you through some useful measures of bad debt and liabilities in order to properly analyse Spar Nord Bank’s risk level before you invest in the stock.
Simply Wall St - – Full articleThose Who Purchased Spar Nord Bank Shares A Year Ago Have A 16% Loss To Show For It
Unfortunately the Spar Nord Bank A/S (CPH:SPNO) share price slid 16% over twelve months. … View our latest analysis for Spar Nord Bank. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
Simply Wall St - – Full articleWhat Should Investors Know About Spar Nord Bank A/S's (CPH:SPNO) Future?
Help shape the future of investing tools and you could win a $250 gift card! … The latest earnings announcement Spar Nord Bank A/S (CPH:SPNO) released in December 2018a
Simply Wall St - – Full articleHere's What Spar Nord Bank A/S's (CPH:SPNO) P/E Ratio Is Telling Us
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Spar Nord Bank A/S's (CPH:SPNO) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleSPNO Company Info
Description
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, as well as mortgage credits and custodianship accounts. The company also provides leasing products; and services in the field of equities, bonds, interest and forex, asset management, and international transactions. In addition, it offers consumer financing services through retail stores; gift voucher solutions through shopping centers and shopping center associations; and direct loans through its Website, sparxpres.dk. As of December 31, 2018, the company operated a network of 49 branches. Spar Nord Bank A/S was founded in 1824 and is based in Aalborg, Denmark.
Details
| Name: | Spar Nord Bank A/S |
| SPNO | |
| Exchange: | CPSE |
| Founded: | 1824 |
| DKK7,375,051,560 | |
| 122,917,526 | |
| Website: | http://www.sparnord.com |
| Address: |
Spar Nord Bank A/S Skelagervej 15, PO Box 162, Aalborg, North Denmark Region, 9100, Denmark |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| CPSE | SPNO | Share Capital | OMX Nordic Exchange Copenhagen | DK | DKK | 02. Jan 1992 | |
| DB | 0SR | Share Capital | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| LSE | 0JH4 | Share Capital | London Stock Exchange | GB | DKK | 02. Jan 1992 | |
| BATS-CHIXE | SPNOC | Share Capital | BATS 'Chi-X Europe' | GB | DKK | 02. Jan 1992 |
Number of employees
Current staff
Industry
| Regional Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/15 20:56 |
| End of day share price update: | 2019/07/15 00:00 |
| Last estimates confirmation: | 2019/07/10 |
| Last earnings filing: | 2019/05/02 |
| 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.
