Grong Sparebank, an independent savings bank, provides a range of banking products and services in Norway.
Undervalued with acceptable track record.
Share Price & News
How has Grong Sparebank's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GRONG-ME has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: GRONG-ME underperformed the Norwegian Banks industry which returned 10.1% over the past year.
Return vs Market: GRONG-ME matched the Norwegian Market which returned 4.4% over the past year.
Price Volatility Vs. Market
How volatile is Grong Sparebank's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall StDo Insiders Own Lots Of Shares In Grong Sparebank (OB:GRONG-ME)?
1 month ago | Simply Wall StIs Grong Sparebank's (OB:GRONG-ME) 6.7% Dividend Worth Your Time?
3 months ago | Simply Wall StWhat Kind Of Investor Owns Most Of Grong Sparebank (OB:GRONG-ME)?
Is Grong Sparebank 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: GRONG-ME (NOK110) is trading below our estimate of fair value (NOK264.56)
Significantly Below Fair Value: GRONG-ME is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: GRONG-ME is good value based on its PE Ratio (6.1x) compared to the Banks industry average (8.7x).
PE vs Market: GRONG-ME is good value based on its PE Ratio (6.1x) compared to the Norwegian market (14.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate GRONG-ME's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: GRONG-ME is good value based on its PB Ratio (0.5x) compared to the NO Banks industry average (0.5x).
How is Grong Sparebank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Grong Sparebank has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
- Examine whether Grong Sparebank is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Grong Sparebank competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Banks industry.
How has Grong Sparebank performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GRONG-ME has high quality earnings.
Growing Profit Margin: GRONG-ME's current net profit margins (31.1%) are higher than last year (28.8%).
Past Earnings Growth Analysis
Earnings Trend: GRONG-ME's earnings have grown by 14.5% per year over the past 5 years.
Accelerating Growth: GRONG-ME's earnings growth over the past year (11.4%) is below its 5-year average (14.5% per year).
Earnings vs Industry: GRONG-ME earnings growth over the past year (11.4%) underperformed the Banks industry 13%.
Return on Equity
High ROE: GRONG-ME's Return on Equity (7.5%) is considered low.
Return on Assets
Return on Capital Employed
How is Grong Sparebank'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: GRONG-ME has a low level of unsold assets or inventory.
Debt Coverage by Assets: GRONG-ME's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: GRONG-ME's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if GRONG-ME has a sufficient allowance for bad loans.
Low Risk Liabilities: GRONG-ME's liabilities are made up of primarily low risk sources of funding.
Loan Level: GRONG-ME has an acceptable proportion of non-loan assets held.
Low Risk Deposits: GRONG-ME has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if GRONG-ME has an appropriate level of bad loans.
What is Grong Sparebank's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: GRONG-ME's dividend (6.36%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.4%).
High Dividend: GRONG-ME's dividend (6.36%) is in the top 25% of dividend payers in the Norwegian market (5.71%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, GRONG-ME has been paying a dividend for less than 10 years.
Growing Dividend: GRONG-ME has only been paying a dividend for 2 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.8%), GRONG-ME's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
What is the CEO of Grong Sparebank's salary, the management and board of directors tenure and is there insider trading?
Average management tenure
Jon Solum (53yo)
Mr. Jon Håvard Solum has been General Manager at Grong Sparebank since 2000. Mr. Solum serves as Chairman of Nord-Trøndelag Elektrisitetsverk AS. He serves as a Member of Supervisory Board of Eika Forsikri ...
CEO Compensation Analysis
Compensation vs Market: Jon's total compensation ($USD216.74K) is below average for companies of similar size in the Norwegian market ($USD423.16K).
Compensation vs Earnings: Jon's compensation has been consistent with company performance over the past year.
Management Age and Tenure
Experienced Management: GRONG-ME's management team is seasoned and experienced (9 years average tenure).
Board Age and Tenure
Experienced Board: GRONG-ME's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 17.2%.
Jon Solum (53yo)
- Tenure: 20yrs
- Compensation: kr1.92m
- Tenure: 3yrs
Bank Manager of Private Market
- Compensation: kr993.00k
Bank Chief of Corporate Market
- Tenure: 15yrs
- Compensation: kr1.29m
Head of Department Customer Service & Digital
Head of Department Mosjøen
Head of Division Namsos
Manager of Bank Operations & Deputy Chairman
- Tenure: 1.7yrs
Employee Representative Director
- Tenure: 1.8yrs
- Compensation: kr115.00k
Chairman of the Board
- Tenure: 13yrs
- Compensation: kr137.00k
- Compensation: kr71.00k
Employee Representative Director
- Compensation: kr66.00k
- Compensation: kr46.00k
- Tenure: 1.8yrs
Grong Sparebank's company bio, employee growth, exchange listings and data sources
- Name: Grong Sparebank
- Ticker: GRONG-ME
- Exchange: OB
- Founded: 1862
- Industry: Regional Banks
- Sector: Banks
- Market Cap: kr329.945m
- Shares outstanding: 2.97m
- Website: https://www.grong-sparebank.no
- Grong Sparebank
- Sundspetvegen 2
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|GRONG-ME||OB (Oslo Bors)||Yes||Share Capital||NO||NOK||Jun 2017|
Grong Sparebank, an independent savings bank, provides a range of banking products and services in Norway. It offers payment and card services, credits, VIPPS, and mobile and online banking services; children, auto, death fall, health, building, holiday home, property, income, critical illness, disability, UNG, and other insurance, as well as health policies; car loans, mortgages, loans to other vehicles, and loans and refinancing; and savings and pensions, including share savings accounts, bank and fund savings, BSU, IPS, retirement savings and pensions, and investor services to private customers. The company also provides payment solutions and bank cards, net and mobile banking, billing solutions, and payment terminals; financing solutions, such as bank guarantees, construction loans, overdrafts, leasing, and corporate loans; liability, customer's, cyber, farmhouse agriculture, operating equipment and crop, property, health, landlord, craft, commercial, personal, travel, big car, goods during transport, and occupational injuries insurance, as well as home insurance agriculture solutions; other accounts; and savings and pensions, such as deposit and retirement pensions to small business customers in construction, property, trade and services, and agriculture industries. Grong Sparebank was founded in 1862 and is headquartered in Grong, Norway with branches in Snåsa, Lierne, Mosjøen, Namsos, Steinkjer, and Rørvik.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/01/20 22:36|
|End of Day Share Price||2020/01/20 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.