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SpareBank 1 SR-Bank

LSE:0Q57
Snowflake Description

Average dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0Q57
LSE
NOK27B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

SpareBank 1 SR-Bank ASA, together with its subsidiaries, provides various financial products and services for personal and corporate customers in Southern and Western Norway. The last earnings update was 29 days ago. More info.


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0Q57 Share Price and Events
7 Day Returns
0%
LSE:0Q57
0.9%
GB Banks
0.5%
GB Market
1 Year Returns
30.9%
LSE:0Q57
-9.3%
GB Banks
0.8%
GB Market
0Q57 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SpareBank 1 SR-Bank (0Q57) 0% 6.5% 14.4% 30.9% 168.5% 72.3%
GB Banks 0.9% 7.9% 5.9% -9.3% 18.7% -10.6%
GB Market 0.5% 3.6% 7.6% 0.8% 15.9% 6.2%
1 Year Return vs Industry and Market
  • 0Q57 outperformed the Banks industry which returned -9.3% over the past year.
  • 0Q57 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 0.8% over the past year.
Price Volatility
0Q57
Industry
5yr Volatility vs Market

0Q57 Value

 Is SpareBank 1 SR-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 SpareBank 1 SR-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 SpareBank 1 SR-Bank.

LSE:0Q57 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= NOK95.95 * 11.4%
NOK10.89
Book Value of Equity per Share Weighted future Book Value estimates from 7 analysts. NOK95.95
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:0Q57
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))
= 0.592 (1 + (1- 23%) (415.92%))
1.997
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% + (1.997 * 5.96%)
13.13%

Discounted Cash Flow Calculation for LSE:0Q57 using Excess Returns Model Model

The calculations below outline how an intrinsic value for SpareBank 1 SR-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:0Q57 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.4% – 13.13%) * NOK95.95)
NOK-1.71
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-1.71 / (13.13% - 1.23%)
NOK-14.32
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK95.95 + NOK-14.32
NOK81.63
LSE:0Q57 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0Q57 represents 0.99619x of OB:SRBANK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99619x
Value per Share
(Listing Adjusted, NOK)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 81.63 x 0.99619
NOK81.31
Value per share (NOK) From above. NOK81.31
Current discount Discount to share price of NOK104.70
= -1 x (NOK104.70 - NOK81.31) / NOK81.31
-28.8%

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

  • The current share price of SpareBank 1 SR-Bank 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 SR-Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SpareBank 1 SR-Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0Q57 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NOK NOK8.96
OB:SRBANK Share Price ** OB (2019-04-23) in NOK NOK105.1
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 SR-Bank.

LSE:0Q57 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 105.1 ÷ 8.96

11.73x

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

  • SpareBank 1 SR-Bank is overvalued based on earnings compared to the GB Banks industry average.
  • SpareBank 1 SR-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 SpareBank 1 SR-Bank's expected growth come at a high price?
Raw Data
LSE:0Q57 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
4.7%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:0Q57 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.73x ÷ 4.7%

2.52x

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

  • SpareBank 1 SR-Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on SpareBank 1 SR-Bank's assets?
Raw Data
LSE:0Q57 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NOK NOK84.43
OB:SRBANK Share Price * OB (2019-04-23) in NOK NOK105.1
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:0Q57 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 105.1 ÷ 84.43

1.24x

* Primary Listing of SpareBank 1 SR-Bank.

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

  • SpareBank 1 SR-Bank is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess SpareBank 1 SR-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. SpareBank 1 SR-Bank has a total score of 1/6, 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.

0Q57 Future Performance

 How is SpareBank 1 SR-Bank expected to perform in the next 1 to 3 years based on estimates from 7 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
4.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SpareBank 1 SR-Bank expected to grow at an attractive rate?
  • SpareBank 1 SR-Bank's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • SpareBank 1 SR-Bank's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • SpareBank 1 SR-Bank's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0Q57 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0Q57 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 4.7%
LSE:0Q57 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 7.1%
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:0Q57 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0Q57 Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,833
2021-12-31 6,461 2,747 5
2020-12-31 6,199 2,643 6
2019-12-31 6,176 2,787 6
LSE:0Q57 Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2018-12-31 5,121 -9,613 2,291
2018-09-30 5,139 -4,952 2,326
2018-06-30 5,083 -2,702 2,302
2018-03-31 4,953 -8,459 2,199
2017-12-31 4,777 -9,091 2,084
2017-09-30 4,572 -9,743 1,956
2017-06-30 4,438 -4,622 1,880
2017-03-31 4,242 -2,066 1,772
2016-12-31 4,190 -6,026 1,755
2016-09-30 3,970 -7,362 1,768
2016-06-30 3,742 -10,474 1,611
2016-03-31 3,830 -11,587 1,636

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SpareBank 1 SR-Bank's earnings are expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
  • SpareBank 1 SR-Bank's revenue is expected to grow by 7.1% 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:0Q57 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 7 Analyst Estimates (S&P Global) See Below

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

LSE:0Q57 Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 10.74 11.40 10.01 6.00
2020-12-31 10.35 11.00 9.67 7.00
2019-12-31 10.89 12.00 9.61 7.00
LSE:0Q57 Past Financials Data
Date (Data in NOK Millions) EPS *
2018-12-31 8.96
2018-09-30 9.09
2018-06-30 9.00
2018-03-31 8.60
2017-12-31 8.16
2017-09-30 7.65
2017-06-30 7.35
2017-03-31 6.94
2016-12-31 6.87
2016-09-30 6.92
2016-06-30 6.30
2016-03-31 6.40

*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 SR-Bank 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 SR-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.
SpareBank 1 SR-Bank 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.

0Q57 Past Performance

  How has SpareBank 1 SR-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 SpareBank 1 SR-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.
  • SpareBank 1 SR-Bank's year on year earnings growth rate has been positive over the past 5 years.
  • SpareBank 1 SR-Bank's 1-year earnings growth exceeds its 5-year average (9.9% vs 1.8%)
  • SpareBank 1 SR-Bank's earnings growth has not exceeded the GB Banks industry average in the past year (9.9% vs 42.2%).
Earnings and Revenue History
SpareBank 1 SR-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 SpareBank 1 SR-Bank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0Q57 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 5,121.00 2,291.00 1,472.00
2018-09-30 5,139.00 2,326.00 1,486.00
2018-06-30 5,083.00 2,302.00 1,461.00
2018-03-31 4,953.00 2,199.00 1,442.00
2017-12-31 4,777.00 2,084.00 1,428.00
2017-09-30 4,572.00 1,956.00 1,354.00
2017-06-30 4,438.00 1,880.00 1,379.00
2017-03-31 4,242.00 1,772.00 1,350.00
2016-12-31 4,190.00 1,755.00 1,329.00
2016-09-30 3,970.00 1,768.00 1,362.00
2016-06-30 3,742.00 1,611.00 1,312.00
2016-03-31 3,830.00 1,636.00 1,323.00
2015-12-31 4,009.00 1,746.00 1,349.00
2015-09-30 4,247.00 1,752.00 1,316.00
2015-06-30 4,426.00 1,829.00 1,336.00
2015-03-31 4,523.00 1,932.00 1,328.00
2014-12-31 4,657.00 2,095.00 1,298.00
2014-09-30 4,782.00 2,214.00 1,321.00
2014-06-30 4,824.00 2,276.00 1,290.00
2014-03-31 4,667.00 2,125.00 1,289.40
2013-12-31 4,366.00 1,860.00 1,282.00
2013-09-30 4,120.00 1,637.00 1,288.00
2013-06-30 3,952.00 1,519.00 1,202.00
2013-03-31 3,769.00 1,439.00 1,167.60
2012-12-31 3,649.00 1,361.00 1,163.00
2012-09-30 3,506.00 1,354.00 949.00
2012-06-30 3,250.00 1,130.00 949.00

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

0Q57 Health

 How is SpareBank 1 SR-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 SpareBank 1 SR-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 SpareBank 1 SR-Bank Company Filings, last reported 3 months ago.

LSE:0Q57 Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 21,585.00 111,758.00 7,539.00
2018-09-30 21,008.00 102,508.00 4,834.00
2018-06-30 19,908.00 95,591.00 5,827.00
2018-03-31 20,400.00 95,593.00 5,267.00
2017-12-31 19,889.00 99,383.00 7,014.00
2017-09-30 19,334.00 93,787.00 4,794.00
2017-06-30 18,734.00 92,754.00 7,092.00
2017-03-31 18,632.00 86,087.00 6,477.00
2016-12-31 18,288.00 87,019.00 8,213.00
2016-09-30 17,730.00 85,679.00 4,880.00
2016-06-30 17,168.00 87,095.00 6,046.00
2016-03-31 17,295.00 86,285.00 7,197.00
2015-12-31 16,914.00 83,520.00 7,537.00
2015-09-30 16,371.00 82,803.00 10,039.00
2015-06-30 15,998.00 72,612.00 8,102.00
2015-03-31 15,944.00 71,892.00 9,040.00
2014-12-31 15,403.00 75,673.00 10,907.00
2014-09-30 15,130.00 68,757.00 21,852.00
2014-06-30 14,726.00 68,597.00 23,315.00
2014-03-31 14,669.00 63,553.00 23,417.00
2013-12-31 14,056.00 62,087.00 7,341.00
2013-09-30 13,511.00 60,675.00 21,186.00
2013-06-30 13,005.00 56,131.00 20,472.00
2013-03-31 12,992.00 55,439.00 18,752.00
2012-12-31 12,637.00 51,718.00 7,020.00
2012-09-30 11,922.00 47,963.00 26,821.00
2012-06-30 11,431.00 47,338.00 26,632.00
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 SR-Bank has an acceptable proportion of non-loan assets held.
  • SpareBank 1 SR-Bank's liabilities are made up of primarily higher risk sources of funding.
  • SpareBank 1 SR-Bank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • SpareBank 1 SR-Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • SpareBank 1 SR-Bank has a low allowance for bad loans.
  • SpareBank 1 SR-Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess SpareBank 1 SR-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. SpareBank 1 SR-Bank has a total score of 3/6, 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.

0Q57 Dividends

 What is SpareBank 1 SR-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
4.28%
Current annual income from SpareBank 1 SR-Bank dividends. Estimated to be 5.04% next year.
If you bought NOK2,000 of SpareBank 1 SR-Bank shares you are expected to receive NOK86 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 SR-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%).
  • SpareBank 1 SR-Bank's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment

Purchase SpareBank 1 SR-Bank before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:0Q57 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 7 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:0Q57 Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 5.60 6.00
2020-12-31 5.20 7.00
2019-12-31 5.14 7.00
LSE:0Q57 Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-08 4.500 4.634
2018-02-07 4.250 4.746
2017-02-08 2.250 2.903
2016-02-04 1.500 3.395
2015-04-29 2.000 4.558
2014-04-30 1.600 2.836
2013-04-26 1.500 2.781
2012-08-09 1.500 3.747
2012-03-30 1.500 4.470
2012-01-16 1.500 3.666
2011-05-05 2.750 6.148
2011-02-04 2.750 4.786
2010-03-25 1.750 3.373
2009-10-22 0.830 1.658
2009-08-12 0.830 2.039
2009-04-28 0.830 2.689
2009-04-24 0.833 3.256

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 SR-Bank'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 (1.9x coverage).
X
Income/ dividend checks
We assess SpareBank 1 SR-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 SpareBank 1 SR-Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SpareBank 1 SR-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.

0Q57 Management

 What is the CEO of SpareBank 1 SR-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
Arne Austreid
COMPENSATION NOK8,229,000
AGE 62
TENURE AS CEO 8.3 years
CEO Bio

Mr. Arne Austreid has been the Chief Executive Officer of SpareBank 1 SR-Bank ASA since January 1, 2011. Mr. Austreid is Director at Fremtind Forsikring AS. Mr. Austreid served as the Chief Executive Officer of Prosafe SE from 1999 to October 2010 and served as its President from 1999 to December 2010. He joined Prosafe in 1998 and served as its Vice President of marketing and business development. From 1982 to 1998, he held a number of positions in Transocean ASA, both on land and offshore and at the time of departure he served as Transocean's President. He was the Chairman of SpareBank 1 Gruppen AS since April 26, 2016. He served as the Chairman of SpareBank 1 Gruppen AS since April 2011 and served as Vice Chairman from January 26, 2011 to April 2011. He has been Deputy Chairman at SpareBank 1 Gruppen AS. since April 8, 2015. He has been a Director of SpareBank 1 Gruppen AS since January 26, 2011. He has been a Director at Solstad Offshore ASA since 2008. He serves as a Director of Bank 1 Oslo AS. He served as a Director of Bank 1 Oslo Akershus AS. He served as a Non-Executive Director of Prosafe Production Public Limited since 2008. He served as a Director of Prosafe SE. He served as a Member of the Council of Stiftelsen Det Norske Veritas (formerly, Det Norske Veritas ASA). Mr. Austried holds an MBA from the University of Aberdeen and he is a petroleum engineer.

CEO Compensation
  • Arne's compensation has increased by more than 20% in the past year.
  • Arne'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 SR-Bank management team in years:

8.3
Average Tenure
52
Average Age
  • The average tenure for the SpareBank 1 SR-Bank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Arne Austreid

TITLE
Chief Executive Officer
COMPENSATION
NOK8M
AGE
62
TENURE
8.3 yrs

Inge Reinertsen

TITLE
Chief Financial Officer
COMPENSATION
NOK4M
AGE
47
TENURE
9.2 yrs

Ella Skjørestad

TITLE
Executive Vice President of Customer Services & Marketing
COMPENSATION
NOK2M
AGE
38
TENURE
1.2 yrs

Gro Tveit

TITLE
Executive Vice President of Human Resources & Business Support
COMPENSATION
NOK2M
AGE
49
TENURE
0.8 yrs

Tore Medhus

TITLE
Executive Vice President of Corporate Market
COMPENSATION
NOK4M
AGE
53
TENURE
18.6 yrs

Thor-Christian Haugland

TITLE
Executive Vice President of Communications & Sustainability
COMPENSATION
NOK3M
AGE
55
TENURE
14.3 yrs

Jan Friestad

TITLE
Executive Vice President of Retail Market
COMPENSATION
NOK3M
AGE
52
TENURE
7.7 yrs

Frode Bø

TITLE
Executive Vice President of Risk Management
COMPENSATION
NOK3M
AGE
50
TENURE
13.3 yrs

Glenn Sæther

TITLE
Executive Vice President of Strategy
COMPENSATION
NOK4M
AGE
52
TENURE
1.2 yrs

Stian Helgøy

TITLE
Vice President of Investor Relations
COMPENSATION
NOK2M
Board of Directors Tenure

Average tenure and age of the SpareBank 1 SR-Bank board of directors in years:

3.8
Average Tenure
62
Average Age
  • The tenure for the SpareBank 1 SR-Bank board of directors is about average.
Board of Directors

Dag Mejdell

TITLE
Chairman of the Board
COMPENSATION
NOK638K
AGE
61
TENURE
2.8 yrs

Birthe Lepsøe

TITLE
Director
COMPENSATION
NOK335K
AGE
47
TENURE
7.3 yrs

Tor Dahle

TITLE
Director
COMPENSATION
NOK1M
AGE
66
TENURE
5.8 yrs

Per Sekse

TITLE
Chair of the Supervisory Board
AGE
62
TENURE
4.8 yrs

Kate Henriksen

TITLE
Director
COMPENSATION
NOK290K
AGE
58
TENURE
3.8 yrs

Therese Bergjord

TITLE
Director
COMPENSATION
NOK280K
AGE
53
TENURE
2 yrs

Jan Skogseth

TITLE
Director
COMPENSATION
NOK285K
AGE
63
TENURE
2 yrs

Terje Vareberg

TITLE
Member of Supervisory Board
COMPENSATION
NOK511K
AGE
70

Terje Nysted

TITLE
Member of Supervisory Board
AGE
69

Anne Nystrøm Kvale

TITLE
Member of Supervisory Board
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 (NOK) Value (NOK)
X
Management checks
We assess SpareBank 1 SR-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. SpareBank 1 SR-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.

0Q57 News

Simply Wall St News

0Q57 Company Info

Description

SpareBank 1 SR-Bank ASA, together with its subsidiaries, provides various financial products and services for personal and corporate customers in Southern and Western Norway. The company offers its products and services in the areas of savings, loans, advice, insurance, and pensions. It also provides foreign exchange, administrative securities, commercial properties brokerage, leasing, accounting, and securities trading services, as well as active management and securities management services. In addition, the company facilitates debt and equity funding; and sells real estate properties comprising holiday homes, new builds, and used homes. Further, it is involved in the customer trading of interest rate instruments; and purchasing of home mortgages and funds by issuing covered bonds. Additionally, the company offers credit and debit cards; structured products; and mobile and online banking services. The company also serves retail, small business, and agricultural customers, as well as public sector. As of December 31, 2018, it had 36 branches in Rogaland, Vest-Agder, Aust-Agder, and Hordaland. SpareBank 1 SR-Bank ASA was founded in 1839 and is headquartered in Stavanger, Norway.

Details
Name: SpareBank 1 SR-Bank ASA
0Q57
Exchange: LSE
Founded: 1839
NOK26,869,939,359
255,660,698
Website: http://www.sparebank1.no/nb/sr-bank
Address: SpareBank 1 SR-Bank ASA
Bjergsted Terrasse 1,
Postboks 250,
Stavanger,
Rogaland, 4066,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SRBANK Ordinary Shares Oslo Bors NO NOK 10. May 1994
OTCPK SBRK.F Ordinary Shares Pink Sheets LLC US USD 10. May 1994
DB B4M1 Ordinary Shares Deutsche Boerse AG DE EUR 10. May 1994
LSE 0Q57 Ordinary Shares London Stock Exchange GB NOK 10. May 1994
BATS-CHIXE SRBANO Ordinary Shares BATS 'Chi-X Europe' GB NOK 10. May 1994
OB ROGG57 FRN PERP NOK500000 'BANK/VAR' Oslo Bors NO NOK 05. Sep 2012
OB ROGG56 9.35%-FRN T1 PERP NOK500000 'BANK/VAR' Oslo Bors NO NOK 18. Sep 2012
Number of employees
Current staff
Staff numbers
1,178
SpareBank 1 SR-Bank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:41
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/03/25
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.