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SpareBank 1 SMN

Market Cap

kr15.2b

Last Updated

2021/05/18 16:21 UTC

Data Sources

Company Financials +

Executive Summary

SpareBank 1 SMN, together with its subsidiaries, provides various financial and banking products and services to personal and corporate customers in Norway and internationally. More Details


Snowflake Analysis

Undervalued with excellent balance sheet.

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: MING is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: MING's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-0.2%

MING

1.1%

NO Banks

-0.7%

NO Market


1 Year Return

63.6%

MING

53.0%

NO Banks

34.5%

NO Market

Return vs Industry: MING exceeded the Norwegian Banks industry which returned 53% over the past year.

Return vs Market: MING exceeded the Norwegian Market which returned 34.5% over the past year.


Shareholder returns

MINGIndustryMarket
7 Day-0.2%1.1%-0.7%
30 Day4.2%-0.8%-2.5%
90 Day16.6%11.3%2.7%
1 Year65.6%63.6%59.9%53.0%39.4%34.5%
3 Year68.3%45.8%34.5%21.6%11.6%-0.5%
5 Year211.3%144.9%121.5%84.5%75.4%43.4%

Long-Term 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

Valuation

Is SpareBank 1 SMN undervalued compared to its fair value and its price relative to the market?

33.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MING (NOK117.8) is trading below our estimate of fair value (NOK175.77)

Significantly Below Fair Value: MING is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MING is good value based on its PE Ratio (10.7x) compared to the Norwegian Banks industry average (11.2x).

PE vs Market: MING is good value based on its PE Ratio (10.7x) compared to the Norwegian market (14.8x).


Price to Earnings Growth Ratio

PEG Ratio: MING is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: MING is overvalued based on its PB Ratio (0.7x) compared to the NO Banks industry average (0.6x).


Future Growth

How is SpareBank 1 SMN forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

11.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MING's forecast earnings growth (11.6% per year) is above the savings rate (1.2%).

Earnings vs Market: MING's earnings (11.6% per year) are forecast to grow slower than the Norwegian market (17.4% per year).

High Growth Earnings: MING's earnings are forecast to grow, but not significantly.

Revenue vs Market: MING's revenue (3.4% per year) is forecast to grow slower than the Norwegian market (4.5% per year).

High Growth Revenue: MING's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MING's Return on Equity is forecast to be low in 3 years time (11.1%).


Past Performance

How has SpareBank 1 SMN performed over the past 5 years?

1.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MING has a high level of non-cash earnings.

Growing Profit Margin: MING's current net profit margins (23.9%) are higher than last year (21.3%).


Past Earnings Growth Analysis

Earnings Trend: MING's earnings have grown by 1.7% per year over the past 5 years.

Accelerating Growth: MING's earnings growth over the past year (31.4%) exceeds its 5-year average (1.7% per year).

Earnings vs Industry: MING earnings growth over the past year (31.4%) exceeded the Banks industry 12.9%.


Return on Equity

High ROE: MING's Return on Equity (11.3%) is considered low.


Financial Health

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


Balance Sheet


Financial Institutions Analysis

Asset Level: MING's Assets to Equity ratio (8.9x) is low.

Allowance for Bad Loans: MING has a sufficient allowance for bad loans (333%).

Low Risk Liabilities: 67% of MING's liabilities are made up of primarily low risk sources of funding.

Loan Level: MING has an appropriate level of Loans to Assets ratio (75%).

Low Risk Deposits: MING's Loans to Deposits ratio (127%) is high.

Level of Bad Loans: MING has an appropriate level of bad loans (0.3%).


Dividend

What is SpareBank 1 SMN current dividend yield, its reliability and sustainability?

1.10%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MING's dividend (1.1%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (1.9%).

High Dividend: MING's dividend (1.1%) is low compared to the top 25% of dividend payers in the Norwegian market (5.04%).


Stability and Growth of Payments

Stable Dividend: MING is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are stable.

Growing Dividend: MING is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: MING is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MING's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average management tenure


CEO

Jan-Frode Janson (51 yo)

2yrs

Tenure

kr3,930,000

Compensation

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 has been Director of Fremtind Forsikring AS since 2020. He was the Ch...


CEO Compensation Analysis

Compensation vs Market: Jan-Frode's total compensation ($USD474.89K) is about average for companies of similar size in the Norwegian market ($USD619.35K).

Compensation vs Earnings: Insufficient data to compare Jan-Frode's compensation with company performance.


Leadership Team

Experienced Management: MING's management team is considered experienced (2.5 years average tenure).


Board Members

Experienced Board: MING's board of directors are considered experienced (3.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

SpareBank 1 SMN's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SpareBank 1 SMN
  • Ticker: MING
  • Exchange: OB
  • Founded: 1823
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: kr15.190b
  • Shares outstanding: 129.39m
  • Website: https://www.sparebank1.no/nb/smn

Number of Employees


Location

  • SpareBank 1 SMN
  • No. 4 Søndre gate
  • Trondheim
  • Sør-Trøndelag
  • Norway

Listings


Biography

SpareBank 1 SMN, together with its subsidiaries, provides various financial and banking products and services to personal and corporate customers in Norway and internationally. The company provides a range...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/18 16:21
End of Day Share Price2021/05/18 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


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.