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Spar Nord Bank

LSE:0JH4
Snowflake Description

Undervalued with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0JH4
LSE
DKK7B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

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 77 days ago. More info.


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0JH4 Share Price and Events
7 Day Returns
-1.2%
LSE:0JH4
-1.3%
GB Banks
1.2%
GB Market
1 Year Returns
-17.8%
LSE:0JH4
-9.9%
GB Banks
2.5%
GB Market
0JH4 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Spar Nord Bank (0JH4) -1.2% 0.3% -0.7% -17.8% 7.6% -4.6%
GB Banks -1.3% 6.6% 5.5% -9.9% 14.8% -12.4%
GB Market 1.2% 5.3% 9.8% 2.5% 16.9% 6.7%
1 Year Return vs Industry and Market
  • 0JH4 underperformed the Banks industry which returned -9.9% over the past year.
  • 0JH4 underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
0JH4
Industry
5yr Volatility vs Market

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Spar Nord Bank.

LSE:0JH4 Discounted Cash Flow Data Sources
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
= DKK76.42 * 10.8%
DKK8.23
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. DKK76.42
Discount Rate (Cost of Equity) See below 6.6%
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:0JH4
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 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 22%) (57.22%))
0.907
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.907 * 5.96%)
6.63%

Discounted Cash Flow Calculation for LSE:0JH4 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.

LSE:0JH4 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.8% – 6.63%) * DKK76.42)
DKK3.16
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= DKK3.16 / (6.63% - 1.23%)
DKK58.49
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= DKK76.42 + DKK58.49
DKK134.91
LSE:0JH4 Discount to Share Price
Calculation Result
Value per share (DKK) From above. DKK134.91
Current discount Discount to share price of DKK57.70
= -1 x (DKK57.70 - DKK134.91) / DKK134.91
57.2%

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

Current Discount
Amount off the current price Spar Nord Bank is available for.
Intrinsic value
>50%
Share price is DKK57.7 vs Future cash flow value of DKK134.91
Current Discount Checks
For Spar Nord Bank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
LSE:0JH4 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in DKK DKK7.18
CPSE:SPNO Share Price ** CPSE (2019-04-25) in DKK DKK57.7
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 9.92x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.3x

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

** Primary Listing of Spar Nord Bank.

LSE:0JH4 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= CPSE:SPNO Share Price ÷ EPS (both in DKK)

= 57.7 ÷ 7.18

8.04x

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

  • Spar Nord Bank is good value based on earnings compared to the GB Banks industry average.
  • Spar Nord Bank is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Spar Nord Bank's expected growth come at a high price?
Raw Data
LSE:0JH4 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-1.5%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.84x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 566 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

LSE:0JH4 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.04x ÷ -1.5%

-5.26x

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?
Raw Data
LSE:0JH4 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in DKK DKK75.15
CPSE:SPNO Share Price * CPSE (2019-04-25) in DKK DKK57.7
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.87x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
LSE:0JH4 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= CPSE:SPNO Share Price ÷ Book Value per Share (both in DKK)

= 57.7 ÷ 75.15

0.77x

* 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 good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Spar Nord Bank'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. Spar Nord Bank has a total score of 5/6, 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 Spar Nord Bank expected to perform in the next 1 to 3 years based on estimates from 3 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
-1.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Spar Nord Bank expected to grow at an attractive rate?
  • Spar Nord Bank's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Spar Nord Bank's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Spar Nord Bank'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:0JH4 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0JH4 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -1.5%
LSE:0JH4 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 1.9%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
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:0JH4 Analysts Growth Expectations Data Sources
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 numbers in DKK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0JH4 Future Estimates Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,203 841 2
2020-12-31 3,136 818 2
2019-12-31 3,105 819 2
LSE:0JH4 Past Financials Data
Date (Data in DKK Millions) Revenue Cash Flow Net Income *
2018-12-31 3,017 -1,776 883
2018-09-30 3,155 -1,049 1,001
2018-06-30 3,162 -2,115 1,006
2018-03-31 3,128 -3,054 945
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
2016-03-31 2,627 -1,556 587

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Spar Nord Bank's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Spar Nord Bank's revenue is expected to grow by 1.9% 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:0JH4 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.

LSE:0JH4 Future Estimates Data
Date (Data in DKK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 6.99 7.27 6.55 3.00
2020-12-31 6.70 6.88 6.40 3.00
2019-12-31 6.67 7.14 6.02 3.00
LSE:0JH4 Past Financials Data
Date (Data in DKK Millions) EPS *
2018-12-31 7.18
2018-09-30 8.15
2018-06-30 8.24
2018-03-31 7.72
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
2016-03-31 4.67

*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.
  • Spar Nord Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Spar Nord Bank'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.
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.

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
Below we compare Spar Nord Bank'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.
  • 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 GB Banks industry average.
Earnings and Revenue History
Spar Nord Bank'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 Spar Nord Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0JH4 Past Revenue, Cash Flow and Net Income Data
Date (Data in DKK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,017.00 883.00 1,329.00
2018-09-30 3,155.00 1,001.00 1,926.00
2018-06-30 3,162.00 1,006.00 1,927.00
2018-03-31 3,128.00 945.00 1,920.00
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
2012-06-30 1,715.10 226.90 1,462.50

*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 more efficiently than the GB 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.
X
Past performance checks
We assess Spar Nord Bank'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.
Spar Nord Bank 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 Spar Nord Bank'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 Spar Nord Bank'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 Spar Nord Bank Company Filings, last reported 3 months ago.

LSE:0JH4 Past Debt and Equity Data
Date (Data in DKK Millions) Total Equity Total Debt Cash & Short Term Investments
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
2012-06-30 5,584.30 19,207.20 6,712.00
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.
  • 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%).
X
Financial health checks
We assess Spar Nord Bank'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. Spar Nord Bank has a total score of 4/6, 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 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
Dividend payments
6.07%
Current annual income from Spar Nord Bank dividends. Estimated to be 5.81% next year.
If you bought DKK2,000 of Spar Nord Bank shares you are expected to receive DKK121 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?
  • Spar Nord Bank's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Spar Nord Bank's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.1%).
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:0JH4 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 3 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 5%
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 5.1%

Industry and Market average data is calculated daily.

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

LSE:0JH4 Future Dividends Estimate Data
Date (Data in DKK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.34 3.00
2020-12-31 3.40 3.00
2019-12-31 3.32 3.00
LSE:0JH4 Past Annualized Dividends Data
Date (Data in DKK) Dividend per share (annual) Avg. Yield (%)
2019-02-07 3.500 6.133
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

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 well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Spar Nord Bank'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 Spar Nord Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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.

Management

 What is the CEO of Spar Nord Bank'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
Lasse Nyby
COMPENSATION DKK5,100,000
AGE 58
TENURE AS CEO 18.5 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.
  • Lasse'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 Spar Nord Bank management team in years:

19
Average Tenure
58.5
Average Age
  • 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

TITLE
CEO & Member of Executive Board
COMPENSATION
DKK5M
AGE
58
TENURE
18.5 yrs

Lars Møller

TITLE
Managing Director & Member of Executive Board
COMPENSATION
DKK4M
AGE
61
TENURE
19 yrs

John Lundsgaard

TITLE
Managing Director & Member of Executive Board
COMPENSATION
DKK4M
AGE
54
TENURE
19.3 yrs

Thorkild Mathiesen

TITLE
General Manager of Finance & Accounts

Trine Haals

TITLE
Principal Administrative Officer
AGE
59

Karin Duerlund

TITLE
Head of Legal Department

Jan Poulsen

TITLE
Head of Funding
AGE
57

Poul Christensen

TITLE
Senior Vice President
AGE
66

Ole Madsen

TITLE
Senior Vice President of Communication & Business Development

Kai Max-Jakobsen

TITLE
Managing Director of Vejgaard
Board of Directors Tenure

Average tenure and age of the Spar Nord Bank board of directors in years:

4
Average Tenure
53
Average Age
  • The tenure for the Spar Nord Bank board of directors is about average.
Board of Directors

Kjeld Johannesen

TITLE
Chairman
COMPENSATION
DKK800K
AGE
65
TENURE
3 yrs

Per Bukh

TITLE
Deputy Chairman of the Board
COMPENSATION
DKK600K
AGE
53
TENURE
3 yrs

Kaj Christiansen

TITLE
Director
COMPENSATION
DKK400K
AGE
63
TENURE
7 yrs

Jannie Skovsen

TITLE
Director
COMPENSATION
DKK300K
AGE
53
TENURE
11.3 yrs

Laila Mortensen

TITLE
Director
COMPENSATION
DKK400K
AGE
53
TENURE
7 yrs

Gitte Sørensen

TITLE
Director
COMPENSATION
DKK300K
AGE
53
TENURE
7.3 yrs

John Sørensen

TITLE
Director
COMPENSATION
DKK400K
AGE
61
TENURE
4 yrs

Morten Gaardboe

TITLE
Director
COMPENSATION
DKK300K
AGE
50
TENURE
3 yrs

Lene Aaen

TITLE
Director
COMPENSATION
DKK200K
AGE
48
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (DKK) Value (DKK)
X
Management checks
We assess Spar Nord Bank'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. 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.

News

Simply Wall St News

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
0JH4
Exchange: LSE
Founded: 1824
DKK7,095,078,249
122,964,961
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
Staff numbers
1,518
Spar Nord Bank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 21:23
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/04/24
Last earnings filing: 2019/02/07
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.