BME:SAB

Stock Analysis Report

Banco de Sabadell

Executive Summary

Banco de Sabadell, S.A. provides personal, business, and private banking services in Spain and internationally.

Snowflake

Fundamentals

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has Banco de Sabadell's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.8%

SAB

-1.1%

ES Banks

0.5%

ES Market


1 Year Return

-39.3%

SAB

-24.3%

ES Banks

-3.7%

ES Market

SAB underperformed the Banks industry which returned -25.5% over the past year.

SAB underperformed the Market in Spain which returned -3.8% over the past year.


Share holder returns

SABIndustryMarket
7 Day-3.8%-1.1%0.5%
30 Day17.4%11.5%4.2%
90 Day-2.7%-4.5%-1.0%
1 Year-37.7%-39.3%-21.6%-24.3%-0.5%-3.7%
3 Year-15.6%-22.6%1.5%-9.4%15.8%5.1%
5 Year-53.7%-62.3%-42.1%-52.8%2.8%-16.7%

Price Volatility Vs. Market

How volatile is Banco de Sabadell's share price compared to the market and industry in the last 5 years?


Simply Wall St News

1 month ago | Simply Wall St

What Kind Of Shareholder Owns Most Banco de Sabadell, S.A. (BME:SAB) Stock?

Valuation

Is Banco de Sabadell undervalued based on future cash flows and its price relative to the stock market?

15%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Banco de Sabadell's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Banco de Sabadell's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Banco de Sabadell is good value based on earnings compared to the ES Banks industry average.

Banco de Sabadell is good value based on earnings compared to the Spain market.


Price Based on Expected Growth

Banco de Sabadell earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Banco de Sabadell is good value based on assets compared to the ES Banks industry average.


Next Steps

Future Growth

How is Banco de Sabadell expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

-2.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Banco de Sabadell's revenue is expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).

Banco de Sabadell's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Banco de Sabadell's revenue growth is positive but not above the Spain market average.

Banco de Sabadell's earnings are expected to decrease over the next 1-3 years, this is below the Spain market average.

Banco de Sabadell's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.5%.


Earnings per Share Growth Estimates


Future Return on Equity

Banco de Sabadell is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Banco de Sabadell performed over the past 5 years?

3.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Banco de Sabadell's year on year earnings growth rate has been positive over the past 5 years.

Banco de Sabadell's 1-year earnings growth exceeds its 5-year average (53.6% vs 3%)

Banco de Sabadell's earnings growth has exceeded the ES Banks industry average in the past year (53.6% vs 12.2%).


Return on Equity

Banco de Sabadell has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Banco de Sabadell used its assets less efficiently than the ES Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Banco de Sabadell improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Banco de Sabadell'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

Information is not available.

Information is not available.


Financial Institutions Analysis

Banco de Sabadell has an acceptable proportion of non-loan assets held.

Banco de Sabadell has a low allowance for bad loans.

Banco de Sabadell's liabilities are made up of primarily low risk sources of funding.

Banco de Sabadell's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at Banco de Sabadell are broadly funded by customer deposits.

Banco de Sabadell has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is Banco de Sabadell's current dividend yield, its reliability and sustainability?

7.02%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Banco de Sabadell's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (2.03%).

Banco de Sabadell's dividend is below the markets top 25% of dividend payers in Spain (5.3%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are thoroughly covered by earnings (12.4x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).


Next Steps

Management

What is the CEO of Banco de Sabadell's salary, the management and board of directors tenure and is there insider trading?

1.2yrs

Average management tenure


CEO

Jaime Guardiola Romojaro (62yo)

12yrs

Tenure

€100,000

Compensation

Mr. Jaime Guardiola Romojaro has been an Executive Director of Banco de Sabadell SA since September 27, 2007. Mr. Guardiola Romojaro serves as a Managing Manager at Banco de Sabadell SA since September 201 ...


CEO Compensation Analysis

Jaime's remuneration is higher than average for companies of similar size in Spain.

Jaime's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

1.2yrs

Average Tenure

54.5yo

Average Age

The average tenure for the Banco de Sabadell management team is less than 2 years, this suggests a new team.


Board Age and Tenure

4.7yrs

Average Tenure

58.5yo

Average Age

The tenure for the Banco de Sabadell board of directors is about average.


Insider Trading

More shares have been bought than sold by Banco de Sabadell individual insiders in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

Buy€46,20008 Aug 19
David Vegara Figueras
EntityIndividual
Role
Member of the Board of Directors
GM, CRO & Executive Director
Shares60,000
Max Price€0.77
Buy€20,002,97118 Feb 19
David Manuel Martínez Guzmán
EntityIndividual
Shares22,000,000
Max Price€0.94
Buy€95,70007 Feb 19
Manuel Valls Morató
EntityIndividual
Shares110,000
Max Price€0.87
Buy€26,50020 Dec 18
David Vegara Figueras
EntityIndividual
Role
Member of the Board of Directors
GM, CRO & Executive Director
Shares25,000
Max Price€1.06

Ownership Breakdown


Management Team

  • Jaime Guardiola Romojaro (62yo)

    CEO, MD & Executive Director

    • Tenure: 12yrs
    • Compensation: €100.00k
  • José Nieto de la Cierva (55yo)

    Deputy General Manager of Corporate & Investment Banking

    • Tenure: 1.5yrs
  • Tomás Varela Muiña

    General Manager & CFO

    • Tenure: 0yrs
  • María José García Beato (54yo)

    General Secretary & Executive Director

    • Tenure: 1.3yrs
    • Compensation: €34.00k
  • Gonzalo Barettino Coloma

    Assistant General Manager of Legal

    • Tenure: 0yrs
  • Federico Rodríguez Castillo

    Assistant General Manager of Compliance

    • Tenure: 1.3yrs
  • Alfonso Calle

    Assistant General Manager of Technology Innovation

    • Tenure: 0.7yrs
  • Miquel Montes Güell

    COO, Corporate Development Director and GM of Operations & People

    • Tenure: 0yrs
  • David Vegara Figueras (53yo)

    GM, CRO & Executive Director

    • Tenure: 4.3yrs
    • Compensation: €170.00k
  • Cecilia Romero

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • José Javier Echenique Landiribar (68yo)

    Vice Chairman of the Board

    • Tenure: 8.8yrs
    • Compensation: €205.00k
  • Fernando Pérez-Hickman Muñoz (52yo)

    General Manager

    • Tenure: 0yrs
  • Jaime Guardiola Romojaro (62yo)

    CEO, MD & Executive Director

    • Tenure: 12yrs
    • Compensation: €100.00k
  • Pascal Poupelle (64yo)

    Chairman of Dexia Sabadell

    • Tenure: 0yrs
  • Francisco Vallejo López (74yo)

    Chairman of Banco Urquijo

    • Tenure: 0yrs
  • Josep Tarrés i Busquets

    Chairman of Solvia

    • Tenure: 0yrs
  • María José García Beato (54yo)

    General Secretary & Executive Director

    • Tenure: 1.3yrs
    • Compensation: €34.00k
  • Jochen Schwarz

    Chairman of BanSabadell Vida

    • Tenure: 0yrs
  • Aurora Catá Sala (55yo)

    Independent Director

    • Tenure: 4.7yrs
    • Compensation: €160.00k
  • David Vegara Figueras (53yo)

    GM, CRO & Executive Director

    • Tenure: 4.3yrs
    • Compensation: €170.00k

Company Information

Banco de Sabadell, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banco de Sabadell, S.A.
  • Ticker: SAB
  • Exchange: BME
  • Founded: 1881
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €4.859b
  • Shares outstanding: 5.54b
  • Website: https://www.bancsabadell.com

Number of Employees


Location

  • Banco de Sabadell, S.A.
  • Torre Banco Sabadell
  • Av. Diagonal, 407 bis
  • Alicante
  • 8008
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BNDS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 2001
SABBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURApr 2001
0H00LSE (London Stock Exchange)YesOrdinary SharesGBEURApr 2001
BDSBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2001
SABEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 2001
SABWBAG (Wiener Boerse AG)YesOrdinary SharesATEURApr 2001
BNDS.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2008

Biography

Banco de Sabadell, S.A. provides personal, business, and private banking services in Spain and internationally. The company offers various accounts; deposits and long-term saving plans; cards; investments  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/20 21:04
End of Day Share Price2019/09/20 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.