Loading...

SpareBank 1 SMN

LSE:0IVM
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0IVM
LSE
NOK12B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

SpareBank 1 SMN, together with its subsidiaries, provides various financial and banking products and services. The last earnings update was 44 days ago. More info.


Add to Portfolio Compare Print
0IVM Share Price and Events
7 Day Returns
1.2%
LSE:0IVM
1%
GB Banks
0.6%
GB Market
1 Year Returns
17%
LSE:0IVM
-8.7%
GB Banks
1.1%
GB Market
0IVM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SpareBank 1 SMN (0IVM) 1.2% -0.7% 6.2% 17% 87.7% 76.5%
GB Banks 1% 4.3% 4.4% -8.7% 17% -11.2%
GB Market 0.6% 2.6% 6.9% 1.1% 15.6% 6.2%
1 Year Return vs Industry and Market
  • 0IVM outperformed the Banks industry which returned -8.7% over the past year.
  • 0IVM outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.1% over the past year.
Price Volatility
0IVM
Industry
5yr Volatility vs Market

Value

 Is SpareBank 1 SMN 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 SpareBank 1 SMN 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 SpareBank 1 SMN.

LSE:0IVM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= NOK98.79 * 11.1%
NOK11.00
Book Value of Equity per Share Weighted future Book Value estimates from 5 analysts. NOK98.79
Discount Rate (Cost of Equity) See below 13.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 LSE:0IVM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 23%) (419.41%))
2.011
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 5.96%)
13.15%

Discounted Cash Flow Calculation for LSE:0IVM using Excess Returns Model Model

The calculations below outline how an intrinsic value for SpareBank 1 SMN 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.

LSE:0IVM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.1% – 13.15%) * NOK98.79)
NOK-1.99
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-1.99 / (13.15% - 1.23%)
NOK-16.67
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK98.79 + NOK-16.67
NOK82.13
LSE:0IVM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0IVM represents 1.00324x of OB:MING
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00324x
Value per Share
(Listing Adjusted, NOK)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 82.13 x 1.00324
NOK82.39
Value per share (NOK) From above. NOK82.39
Current discount Discount to share price of NOK92.90
= -1 x (NOK92.90 - NOK82.39) / NOK82.39
-12.8%

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

  • The current share price of SpareBank 1 SMN is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 SpareBank 1 SMN's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SpareBank 1 SMN's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0IVM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NOK NOK9.98
OB:MING Share Price ** OB (2019-04-18) in NOK NOK92.6
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

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

** Primary Listing of SpareBank 1 SMN.

LSE:0IVM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:MING Share Price ÷ EPS (both in NOK)

= 92.6 ÷ 9.98

9.28x

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

  • SpareBank 1 SMN is good value based on earnings compared to the GB Banks industry average.
  • SpareBank 1 SMN is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does SpareBank 1 SMN's expected growth come at a high price?
Raw Data
LSE:0IVM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
14.5%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

LSE:0IVM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.28x ÷ 14.5%

0.64x

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

  • SpareBank 1 SMN is good value based on expected growth next year.
Price based on value of assets
What value do investors place on SpareBank 1 SMN's assets?
Raw Data
LSE:0IVM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NOK NOK139.01
OB:MING Share Price * OB (2019-04-18) in NOK NOK92.6
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.51x
LSE:0IVM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:MING Share Price ÷ Book Value per Share (both in NOK)

= 92.6 ÷ 139.01

0.67x

* Primary Listing of SpareBank 1 SMN.

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

  • SpareBank 1 SMN is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess SpareBank 1 SMN'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. SpareBank 1 SMN has a total score of 4/6, 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 SpareBank 1 SMN expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
14.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SpareBank 1 SMN expected to grow at an attractive rate?
  • SpareBank 1 SMN's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • SpareBank 1 SMN's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • SpareBank 1 SMN's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0IVM Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0IVM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 14.5%
LSE:0IVM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.2%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
LSE:0IVM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0IVM Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 5,992 2,243 4
2020-12-31 5,742 2,115 4
2019-12-31 5,750 2,253 4
LSE:0IVM Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-12-31 5,223 -7,918 1,291
2018-09-30 5,310 -9,331 1,386
2018-06-30 5,294 -7,557 1,399
2018-03-31 4,851 -5,716 1,188
2017-12-31 4,653 -10,937 1,128
2017-09-30 4,442 -6,611 1,090
2017-06-30 4,244 -8,015 1,031
2017-03-31 4,201 -9,776 1,066
2016-12-31 4,036 -6,462 1,027
2016-09-30 3,849 -6,438 1,428
2016-06-30 3,621 -7,791 1,331
2016-03-31 3,560 -5,777 1,320

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SpareBank 1 SMN's earnings are expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
  • SpareBank 1 SMN's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
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
LSE:0IVM 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 5 Analyst Estimates (S&P Global) See Below

All data from SpareBank 1 SMN Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0IVM Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 10.99 11.53 10.43 5.00
2020-12-31 10.36 10.77 10.08 5.00
2019-12-31 11.06 12.20 9.60 5.00
LSE:0IVM Past Financials Data
Date (Data in NOK Millions) EPS *
2018-12-31 9.98
2018-09-30 10.72
2018-06-30 10.87
2018-03-31 9.17
2017-12-31 8.71
2017-09-30 8.44
2017-06-30 7.96
2017-03-31 8.21
2016-12-31 7.93
2016-09-30 11.03
2016-06-30 10.25
2016-03-31 10.41

*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.
  • SpareBank 1 SMN is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SpareBank 1 SMN'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
SpareBank 1 SMN has a total score of 2/6, 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 SpareBank 1 SMN 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 SpareBank 1 SMN'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.
  • SpareBank 1 SMN's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • SpareBank 1 SMN's 1-year earnings growth exceeds its 5-year average (14.5% vs -6.8%)
  • SpareBank 1 SMN's earnings growth has not exceeded the GB Banks industry average in the past year (14.5% vs 42.2%).
Earnings and Revenue History
SpareBank 1 SMN'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 SpareBank 1 SMN Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0IVM Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5,223.00 1,291.00 1,690.00
2018-09-30 5,310.00 1,386.00 1,663.00
2018-06-30 5,294.00 1,399.00 1,670.00
2018-03-31 4,851.00 1,188.00 1,593.00
2017-12-31 4,653.00 1,128.00 1,530.00
2017-09-30 4,442.00 1,090.00 1,417.00
2017-06-30 4,244.00 1,031.00 1,352.00
2017-03-31 4,201.00 1,066.00 1,333.00
2016-12-31 4,036.00 1,027.00 1,257.00
2016-09-30 3,849.00 1,428.00 1,286.00
2016-06-30 3,621.00 1,331.00 1,232.00
2016-03-31 3,560.00 1,320.00 1,214.00
2015-12-31 3,707.00 1,410.00 1,189.00
2015-09-30 3,722.00 1,096.00 856.00
2015-06-30 3,918.00 1,374.00 949.00
2015-03-31 3,911.00 1,558.00 996.00
2014-12-31 3,934.00 1,772.00 1,083.00
2014-09-30 3,956.00 1,759.00 1,072.00
2014-06-30 3,923.00 1,748.00 1,039.00
2014-03-31 3,741.00 1,569.00 1,021.00
2013-12-31 3,510.00 1,390.00 981.00
2013-09-30 3,340.00 1,287.00 992.00
2013-06-30 3,209.00 1,162.00 1,015.00
2013-03-31 3,101.00 1,116.00 981.00
2012-12-31 3,026.00 1,068.00 973.00
2012-09-30 3,003.00 1,087.00 974.00
2012-06-30 2,866.00 1,021.00 923.00

*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.
  • SpareBank 1 SMN has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SpareBank 1 SMN used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if SpareBank 1 SMN 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 SpareBank 1 SMN'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.
SpareBank 1 SMN has a total score of 2/6, 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 SpareBank 1 SMN'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 SpareBank 1 SMN'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 SpareBank 1 SMN Company Filings, last reported 3 months ago.

LSE:0IVM Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 18,686.00 50,425.00 6,760.00
2018-09-30 18,650.00 51,332.00 26,198.00
2018-06-30 17,982.00 48,837.00 25,493.00
2018-03-31 17,364.00 48,032.00 24,874.00
2017-12-31 17,510.00 47,987.00 9,422.00
2017-09-30 16,255.00 46,251.00 27,377.00
2017-06-30 15,780.00 47,064.00 33,835.00
2017-03-31 15,314.00 47,638.00 29,200.00
2016-12-31 16,253.00 42,856.00 6,549.00
2016-09-30 14,894.00 46,693.00 24,594.00
2016-06-30 14,461.00 48,027.00 35,335.00
2016-03-31 14,051.00 46,153.00 29,148.00
2015-12-31 13,903.00 44,222.00 12,171.00
2015-09-30 13,455.00 51,020.00 26,002.00
2015-06-30 13,192.00 50,317.00 27,348.00
2015-03-31 12,522.00 49,276.00 23,814.00
2014-12-31 12,525.00 42,698.00 13,226.00
2014-09-30 12,228.00 44,853.00 21,703.00
2014-06-30 11,780.00 45,659.00 24,137.00
2014-03-31 11,389.00 43,237.00 23,110.00
2013-12-31 11,242.00 46,347.00 8,819.00
2013-09-30 10,863.00 44,998.00 22,961.00
2013-06-30 10,439.00 45,408.00 25,659.00
2013-03-31 10,171.00 45,798.00 25,596.00
2012-12-31 10,082.00 43,659.00 4,870.00
2012-09-30 9,766.00 47,742.00 26,086.00
2012-06-30 9,365.00 44,887.00 24,973.00
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.
  • SpareBank 1 SMN has an acceptable proportion of non-loan assets held.
  • SpareBank 1 SMN's liabilities are made up of primarily low risk sources of funding.
  • SpareBank 1 SMN has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • SpareBank 1 SMN's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • SpareBank 1 SMN has a sufficient allowance for bad loans.
  • SpareBank 1 SMN has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess SpareBank 1 SMN'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. SpareBank 1 SMN has a total score of 5/6, 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 SpareBank 1 SMN'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
5.51%
Current annual income from SpareBank 1 SMN dividends. Estimated to be 6.49% next year.
If you bought NOK2,000 of SpareBank 1 SMN shares you are expected to receive NOK110 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?
  • SpareBank 1 SMN's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • SpareBank 1 SMN's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
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
LSE:0IVM 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 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

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

LSE:0IVM Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 6.10 5.00
2020-12-31 5.84 5.00
2019-12-31 6.08 5.00
LSE:0IVM Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-03-07 5.100 5.582
2018-02-07 4.400 5.098
2017-02-07 3.000 3.894
2016-03-10 2.250 4.164
2016-02-03 2.250 4.514
2015-03-27 2.250 3.932
2015-02-05 2.250 3.811
2014-03-27 1.750 3.167
2014-02-05 1.750 3.065
2013-03-22 1.500 3.005
2013-02-06 1.500 3.213
2012-03-07 2.000 5.771
2011-08-10 3.000 7.485
2011-02-28 3.000 5.939
2011-02-02 3.000 5.429
2010-04-16 2.500 5.122
2010-02-11 2.500 5.135
2009-04-21 1.667 3.843

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of SpareBank 1 SMN's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess SpareBank 1 SMN'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 SpareBank 1 SMN afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SpareBank 1 SMN has a total score of 5/6, 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 SpareBank 1 SMN'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
Finn Haugan
COMPENSATION NOK9,566,000
AGE 65
TENURE AS CEO 28.3 years
CEO Bio

Mr. Finn Haugan serves as the Managing Director and Group Chief Executive Officer at Sparebanken Midt-Norge. Mr. Haugan is Chairman at Fremtind Forsikring AS. Mr. Haugan has been Group Chief Executive Officer of SpareBank 1 SMN since 1991 and serves as its Managing Director. He serves as Chief Executive Officer at SMN Regnskap AS. Mr. Haugan serves as the Chairman of EiendomsMegler 1 Midt-Norge AS and BN Bank ASA. He serves as Chairman of the Supervisory Board of Selskabet for Trondhjems bys Vel. He served as Chairman of SpareBank 1 Gruppen AS until April 4, 2018. He serves as the Deputy Chairman of Savings Banks Guarantee Fund. He serves as a Director at Leiv Eriksson AS, Fotograf Schrøders stiftelse, Adolf Øiense fond and Leiv Eiriksson Nyskapning AS. He serves as a Director of Bank 1 Oslo Akershus AS and Sparebanken Midt-Norge. He serves as a Director at SpareBank 1 Gruppen AS. Mr. Haugan has been a Director at BN Bank ASA since 2009. Mr. Haugan serves as a Member of Supervisory Board of Sparebanken Rogaland and Sparebanken Nord-Norge. He served as a Director of SpareBank 1 SMN. He served as a Member of Supervisory Board at SpareBank 1 SR-Bank. He served as a Director of Leiv Eiriksson Nyskaping AS. Mr. Haugan served as a Member of the Board of Governors of Sparebanken Vest. He served as Member of Council of Representative at Eksportfinans ASA since 2005.

CEO Compensation
  • Finn's compensation has been consistent with company performance over the past year.
  • Finn's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the SpareBank 1 SMN management team in years:

28.3
Average Tenure
57
Average Age
  • The average tenure for the SpareBank 1 SMN management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Finn Haugan

TITLE
Group Chief Executive Officer
COMPENSATION
NOK10M
AGE
65
TENURE
28.3 yrs

Kjell Fordal

TITLE
Chief Financial Officer
COMPENSATION
NOK4M
AGE
61
TENURE
28.3 yrs

Ola Neråsen

TITLE
Head of Risk Management and Compliance
COMPENSATION
NOK2M
AGE
53

Hans Tronstad

TITLE
Head of Corporate Communications

Petter de Lange

TITLE
Chief Economist

Jon Havdal

TITLE
Managing Director of Regnskapshuset SMN

Tom Jensen

TITLE
Chief Executive Officer of Sparebank 1 Bilplan

Arne Nypan

TITLE
Chief Executive Officer of Sparebank 1 Finans Midt-Norge

Stein Husby

TITLE
Chief Executive Officer of Sparebank 1 Markets

Johan-Petter Winsnes

TITLE
Acting Head of Organisation & Development
AGE
42
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the SpareBank 1 SMN board of directors in years:

6.1
Average Tenure
58
Average Age
  • The tenure for the SpareBank 1 SMN board of directors is about average.
Board of Directors

Kjell Bjordal

TITLE
Chairman
COMPENSATION
NOK496K
AGE
65
TENURE
6.3 yrs

Bard Benum

TITLE
Deputy Board Chair
COMPENSATION
NOK306K
AGE
56
TENURE
6.1 yrs

Knut Solberg

TITLE
Chair of the Supervisory Board
AGE
66
TENURE
1.1 yrs

Paul Hjelm-Hansen

TITLE
Director
COMPENSATION
NOK300K
AGE
56
TENURE
11.3 yrs

Per Tyldum

TITLE
Supervisory Board Vice Chairman

Venche Jonsen

TITLE
Employee Representative Director
COMPENSATION
NOK1M
AGE
66
TENURE
15.3 yrs

Morten Loktu

TITLE
Director
COMPENSATION
NOK233K
AGE
58
TENURE
6.3 yrs

Janne Thomsen

TITLE
Director
COMPENSATION
NOK291K
AGE
61
TENURE
5 yrs

Erik Gunnes

TITLE
Employee representative Director
COMPENSATION
NOK1M
AGE
52
TENURE
3.3 yrs

Mette Kamsvåg

TITLE
Director
COMPENSATION
NOK222K
AGE
47
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by SpareBank 1 SMN insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
12. Apr 19 Buy Knut Solberg Individual 30. Jan 19 30. Jan 19 1,200 NOK86.13 NOK103,356
14. Nov 18 Buy Mette Kamsvåg Individual 13. Nov 18 13. Nov 18 5,600 NOK88.74 NOK496,964
14. Aug 18 Buy Finn Haugan Individual 14. Aug 18 14. Aug 18 1,000 NOK86.00 NOK86,000
13. Aug 18 Buy Camilla Stang Individual 08. Aug 18 08. Aug 18 17 NOK86.44 NOK1,469
13. Aug 18 Buy Katharina Erlandsen Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Oddny Lysberg Individual 08. Aug 18 08. Aug 18 35 NOK86.44 NOK3,025
13. Aug 18 Buy Tove Sorensen Individual 08. Aug 18 08. Aug 18 35 NOK86.44 NOK3,025
13. Aug 18 Buy Cathrine Aunvik Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Endre Reite Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Erik Gunnes Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Rolf Brøske Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Svein Samdal Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Vegard Helland Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Ola Neråsen Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Hans Tronstad Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Kjersti Hønstad Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Tomm Bøyesen Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Berit Rustad Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Venche Jonsen Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Kjell Fordal Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
13. Aug 18 Buy Finn Haugan Individual 08. Aug 18 08. Aug 18 70 NOK86.44 NOK6,051
04. May 18 Buy Ola Neråsen Individual 04. May 18 04. May 18 3,726 NOK80.50 NOK299,943
X
Management checks
We assess SpareBank 1 SMN'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. SpareBank 1 SMN 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

Company Info

Description

SpareBank 1 SMN, together with its subsidiaries, provides various financial and banking products and services. The company provides advisory services to personal and agricultural customers, clubs, associations, and one-person businesses; and a range of products in the fields of financing, savings and investment, insurance, and payment services. It also provides advisory services in investment and operations financing, domestic and foreign money transfers, fixed income and currency hedging, investment of surplus liquidity, and insurance of individuals and buildings/operating equipment; factoring and accountancy services; and mobile and Internet banking services. In addition, the company offers leasing services; and car, consumer, and home loans to retail borrowers and corporates. Further, it provides real estate and asset management services; and trades in fixed income and forex area, bonds, and equities. Additionally, the company offers stock trading; and debit and credit cards services. It operates 48 locations that serves retail and corporate customers. SpareBank 1 SMN was founded in 1823 and is headquartered in Trondheim, Norway.

Details
Name: SpareBank 1 SMN
0IVM
Exchange: LSE
Founded: 1823
NOK12,022,797,209
129,835,823
Website: http://www.sparebank1.no/smn
Address: SpareBank 1 SMN
no. 4 Søndre gate,
Trondheim,
Sør-Trøndelag, 7011,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB MING Primary Capital Certificates Oslo Bors NO NOK 10. May 1994
OTCPK SRMG.F Primary Capital Certificates Pink Sheets LLC US USD 10. May 1994
LSE 0IVM Primary Capital Certificates London Stock Exchange GB NOK 10. May 1994
BATS-CHIXE MINGO Primary Capital Certificates BATS 'Chi-X Europe' GB NOK 10. May 1994
OB MING52 FRN PERP NOK500000 Oslo Bors NO NOK 27. Nov 2012
OB MING51 8.25%-FRN PERP NTS NOK1000 Oslo Bors NO NOK 02. May 2012
Number of employees
Current staff
Staff numbers
1,493
SpareBank 1 SMN employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:06
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/03/07
Last earnings reported: 2018/12/31
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.