SpareBank 1 SMN, together with its subsidiaries, provides various financial and banking products and services.
Undervalued with excellent balance sheet and pays a dividend.
Share Price & News
How has SpareBank 1 SMN's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 0IVM's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: 0IVM exceeded the UK Banks industry which returned -45.4% over the past year.
Return vs Market: 0IVM exceeded the UK Market which returned -25.9% over the past year.
Price Volatility Vs. Market
How volatile is SpareBank 1 SMN's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is SpareBank 1 SMN undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 0IVM (NOK68.1) is trading below our estimate of fair value (NOK146.16)
Significantly Below Fair Value: 0IVM is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 0IVM is poor value based on its PE Ratio (5.6x) compared to the Banks industry average (4.9x).
PE vs Market: 0IVM is good value based on its PE Ratio (5.6x) compared to the UK market (12.3x).
Price to Earnings Growth Ratio
PEG Ratio: 0IVM is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: 0IVM is good value based on its PB Ratio (0.4x) compared to the GB Banks industry average (0.5x).
How is SpareBank 1 SMN forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 0IVM's forecast earnings growth (11.9% per year) is above the savings rate (0.5%).
Earnings vs Market: 0IVM's earnings (11.9% per year) are forecast to grow slower than the UK market (15.4% per year).
High Growth Earnings: 0IVM's earnings are forecast to grow, but not significantly.
Revenue vs Market: 0IVM's revenue (2.1% per year) is forecast to grow slower than the UK market (2.6% per year).
High Growth Revenue: 0IVM's revenue (2.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 0IVM's Return on Equity is forecast to be low in 3 years time (10.8%).
How has SpareBank 1 SMN performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 0IVM has high quality earnings.
Growing Profit Margin: 0IVM's current net profit margins (26.7%) are higher than last year (24.7%).
Past Earnings Growth Analysis
Earnings Trend: 0IVM's earnings have grown by 1.5% per year over the past 5 years.
Accelerating Growth: 0IVM's earnings growth over the past year (21.7%) exceeds its 5-year average (1.5% per year).
Earnings vs Industry: 0IVM earnings growth over the past year (21.7%) underperformed the Banks industry 26.6%.
Return on Equity
High ROE: 0IVM's Return on Equity (12.6%) is considered low.
How is SpareBank 1 SMN's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: 0IVM has a low level of unsold assets or inventory.
Debt Coverage by Assets: 0IVM's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: 0IVM's level of assets compared to its equity is low.
Allowance for Bad Loans: 0IVM has a sufficient allowance for bad loans.
Low Risk Liabilities: 0IVM's liabilities are made up of primarily low risk sources of funding.
Loan Level: 0IVM has an acceptable proportion of non-loan assets held.
Low Risk Deposits: 0IVM has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: 0IVM has an appropriate level of bad loans (0.33%)
What is SpareBank 1 SMN's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 0IVM's dividend (7.41%) is higher than the bottom 25% of dividend payers in the UK market (2.66%).
High Dividend: 0IVM's dividend (7.41%) is low compared to the top 25% of dividend payers in the UK market (7.42%).
Stability and Growth of Payments
Stable Dividend: 0IVM's dividend payments have been volatile in the past 10 years.
Growing Dividend: 0IVM's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (41.2%), 0IVM's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 0IVM's dividends in 3 years are forecast to be covered by earnings (55.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jan-Frode Janson (50yo)
Mr. Jan-Frode Janson is a Director of SpareBank 1 Gruppen AS. He served as President at SpareBank 1 Nord-Norge until March 15, 2019. He was the Chief Executive Officer of SpareBank 1 Nord-Norge from Januar ...
CEO Compensation Analysis
Compensation vs Market: Jan-Frode's total compensation ($USD373.07) is below average for companies of similar size in the UK market ($USD1.28M).
Compensation vs Earnings: Insufficient data to compare Jan-Frode's compensation with company performance.
|Group Chief Executive Officer||0.92yr||kr3.93k||0.023% NOK2.0m|
|Executive VP of Corporate Finance & Deputy CEO||29.25yrs||kr4.35k||0.19% NOK16.6m|
|Executive Director of Legal Affairs||1.25yrs||kr2.04k||0.0036% NOK312.5k|
|Executive Director of Communications & Society||3.5yrs||kr2.37k||0.0056% NOK491.4k|
|Executive Vice President of Business||no data||kr3.11k||0.027% NOK2.4m|
|Executive VP/Executive Director of Technology & Development||0.083yr||no data||no data|
|Chief Economist||no data||no data||no data|
|Managing Director of Regnskapshuset SMN||no data||no data||no data|
|Chief Executive Officer of Sparebank 1 Bilplan||no data||no data||no data|
|Chief Executive Officer of Sparebank 1 Finans Midt-Norge||no data||no data||no data|
Experienced Management: 0IVM's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
|Deputy Board Chair||7.08yrs||kr358.00||no data|
|Chair of the Supervisory Board||2.08yrs||no data||0.0021% NOK186.8k|
|Supervisory Board Vice Chairman||no data||no data||no data|
Experienced Board: 0IVM's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: 0IVM insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
SpareBank 1 SMN's company bio, employee growth, exchange listings and data sources
- Name: SpareBank 1 SMN
- Ticker: 0IVM
- Exchange: LSE
- Founded: 1823
- Industry: Regional Banks
- Sector: Banks
- Market Cap: kr8.728b
- Shares outstanding: 129.30m
- Website: https://www.sparebank1.no/nb/smn
Number of Employees
- SpareBank 1 SMN
- no. 4 Søndre gate
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SRMG.F||OTCPK (Pink Sheets LLC)||Yes||Primary Capital Certificates||US||USD||May 1994|
|MING||OB (Oslo Bors)||Yes||Primary Capital Certificates||NO||NOK||May 1994|
|0IVM||LSE (London Stock Exchange)||Yes||Primary Capital Certificates||GB||NOK||May 1994|
|MINGO||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Primary Capital Certificates||GB||NOK||May 1994|
|MING51||OB (Oslo Bors)||8.25%-FRN PERP NOK500000||NO||NOK||May 2012|
|MING52||OB (Oslo Bors)||FRN PERP NOK500000||NO||NOK||Nov 2012|
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.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/04 23:29|
|End of Day Share Price||2020/04/03 00:00|
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.