Sparebanken Møre
Sparebanken Møre, together with its subsidiaries, provides banking services for retail and corporate customers primarily in Møre og Romsdal, Norway. The last earnings update was 89 days ago. More info.
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MORG Share Price and Events
7 Day Returns
1 Year Returns
MORG Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Sparebanken Møre (MORG) | -0.3% | -1.3% | 3.9% | 14.1% | 72.7% | 55.7% |
| NO Banks | -2.3% | 0% | -5.5% | -2.1% | 60.4% | 44.4% |
| NO Market | -2.5% | -1.1% | -6.7% | -8.4% | 22.6% | 8.7% |
1 Year Return vs Industry and Market
- MORG outperformed the Banks industry which returned -2.1% over the past year.
- MORG outperformed the Market in Norway which returned -8.4% over the past year.
MORG Value
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
Sparebanken Møre
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Sparebanken Møre.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity = NOK339.86 * 10.2% |
NOK34.59 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 4 analysts. | NOK339.86 |
| Discount Rate (Cost of Equity) | See below | 13.7% |
| Perpetual Growth Rate | 10-Year NO Government Bond Rate | 1.8% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year NO Govt Bond Rate | 1.8% |
| 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))
= 0.597 (1 + (1- 23%) (939.43%)) |
3.621 |
| 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)
= 1.76% + (2 * 5.96%) |
13.68% |
Discounted Cash Flow Calculation for OB:MORG using Excess Returns Model Model
The calculations below outline how an intrinsic value for Sparebanken Møre 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.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (10.2% – 13.68%) * NOK339.86) |
NOK-11.90 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= NOK-11.90 / (13.68% - 1.76%) |
NOK-99.82 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= NOK339.86 + NOK-99.82 |
NOK240.04 |
| Calculation | Result | |
|---|---|---|
| Value per share (NOK) | From above. | NOK240.04 |
| Current discount | Discount to share price of
NOK316.00
= -1 x (NOK316.00 - NOK240.04) / NOK240.04 |
-31.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Sparebanken Møre is above its future cash flow value.
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 Sparebanken Møre's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Sparebanken Møre's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in NOK | NOK30.94 |
| OB:MORG Share Price ** | OB (2019-07-23) in NOK | NOK316 |
| Norway Banks Industry PE Ratio | Median Figure of 31 Publicly-Listed Banks Companies | 8.51x |
| Norway Market PE Ratio | Median Figure of 134 Publicly-Listed Companies | 13.58x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Sparebanken Møre.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = OB:MORG Share Price ÷ EPS (both in NOK) = 316 ÷ 30.94 |
10.21x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sparebanken Møre is overvalued based on earnings compared to the NO Banks industry average.
- Sparebanken Møre is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does
Sparebanken Møre's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 10.21x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
13.1%per year |
| Norway Banks Industry PEG Ratio | Median Figure of 28 Publicly-Listed Banks Companies | 0.61x |
| Norway Market PEG Ratio | Median Figure of 104 Publicly-Listed Companies | 0.84x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 10.21x ÷ 13.1% |
0.78x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sparebanken Møre is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
Sparebanken Møre's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in NOK | NOK632.72 |
| OB:MORG Share Price * | OB (2019-07-23) in NOK | NOK316 |
| Norway Banks Industry PB Ratio | Median Figure of 31 Publicly-Listed Banks Companies | 0.49x |
| Norway Market PB Ratio | Median Figure of 217 Publicly-Listed Companies | 1.14x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = OB:MORG Share Price ÷ Book Value per Share (both in NOK) = 316 ÷ 632.72 |
0.5x |
* Primary Listing of Sparebanken Møre.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sparebanken Møre is overvalued based on assets compared to the NO Banks industry average.
Value checks
We assess Sparebanken Møre's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) Sparebanken Møre has a total score of 2/6, 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.
MORG Future Performance
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!
Earnings growth vs Low Risk Savings
- Sparebanken Møre's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
- Sparebanken Møre's earnings growth is positive but not above the Norway market average.
- Sparebanken Møre's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OB:MORG Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 13.1% |
| OB:MORG Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 5.2% |
| Norway Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 0.5% |
| Norway Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 3.3% |
| Norway Market Earnings Growth Rate | Market Cap Weighted Average | 14.7% |
| Norway Market Revenue Growth Rate | Market Cap Weighted Average | 4% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in NOK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 1,704 | 712 | 3 | |
| 2020-12-31 | 1,642 | 683 | 3 | |
| 2019-12-31 | 1,568 | 656 | 3 |
| Date (Data in NOK Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,439 | 1,328 | 305 |
| 2018-12-31 | 1,411 | -906 | 295 |
| 2018-09-30 | 1,407 | -2,357 | 305 |
| 2018-06-30 | 1,393 | -3,699 | 300 |
| 2018-03-31 | 1,344 | -4,801 | 278 |
| 2017-12-31 | 1,329 | -3,631 | 273 |
| 2017-09-30 | 1,276 | -770 | 254 |
| 2017-06-30 | 1,286 | 323 | 258 |
| 2017-03-31 | 1,338 | 1,887 | 284 |
| 2016-12-31 | 1,341 | 3,163 | 285 |
| 2016-09-30 | 1,345 | 2,067 | 292 |
| 2016-06-30 | 1,311 | 206 | 276 |
*GAAP earnings excluding extraordinary items.
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 4 Analyst Estimates (S&P Global) | See Below |
All data from Sparebanken Møre Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in NOK Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 35.37 | 36.06 | 34.82 | 4.00 |
| 2020-12-31 | 33.91 | 34.66 | 32.90 | 4.00 |
| 2019-12-31 | 32.57 | 33.31 | 31.70 | 4.00 |
| Date (Data in NOK Millions) | EPS * |
|---|---|
| 2019-03-31 | 30.94 |
| 2018-12-31 | 29.97 |
| 2018-09-30 | 30.50 |
| 2018-06-30 | 30.11 |
| 2018-03-31 | 28.20 |
| 2017-12-31 | 27.75 |
| 2017-09-30 | 26.08 |
| 2017-06-30 | 26.40 |
| 2017-03-31 | 28.86 |
| 2016-12-31 | 29.12 |
| 2016-09-30 | 29.87 |
| 2016-06-30 | 28.24 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Sparebanken Møre's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Norway market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Sparebanken Møre 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.
MORG Past Performance
How has Sparebanken Møre 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
Past Earnings growth analysis
- Sparebanken Møre's year on year earnings growth rate has been positive over the past 5 years.
- Sparebanken Møre's 1-year earnings growth exceeds its 5-year average (9.7% vs 1.3%)
- Sparebanken Møre's earnings growth has not exceeded the NO Banks industry average in the past year (9.7% vs 14.7%).
Earnings and Revenue History
All data from Sparebanken Møre Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in NOK Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,439.00 | 305.00 | 509.00 | |
| 2018-12-31 | 1,411.00 | 295.00 | 504.00 | |
| 2018-09-30 | 1,407.00 | 305.00 | 523.00 | |
| 2018-06-30 | 1,393.00 | 300.00 | 520.00 | |
| 2018-03-31 | 1,344.00 | 278.00 | 495.00 | |
| 2017-12-31 | 1,329.00 | 273.00 | 494.00 | |
| 2017-09-30 | 1,276.00 | 254.00 | 507.00 | |
| 2017-06-30 | 1,286.00 | 258.00 | 529.00 | |
| 2017-03-31 | 1,338.00 | 284.00 | 524.00 | |
| 2016-12-31 | 1,341.00 | 285.00 | 520.00 | |
| 2016-09-30 | 1,345.00 | 292.00 | 528.00 | |
| 2016-06-30 | 1,311.00 | 276.00 | 505.00 | |
| 2016-03-31 | 1,267.00 | 254.00 | 502.00 | |
| 2015-12-31 | 1,253.00 | 249.00 | 501.00 | |
| 2015-09-30 | 1,269.00 | 247.00 | 511.00 | |
| 2015-06-30 | 1,388.00 | 306.00 | 503.00 | |
| 2015-03-31 | 1,377.00 | 303.00 | 499.00 | |
| 2014-12-31 | 1,386.00 | 309.00 | 497.00 | |
| 2014-09-30 | 1,381.00 | 312.00 | 482.00 | |
| 2014-06-30 | 1,260.00 | 253.00 | 486.00 | |
| 2014-03-31 | 1,241.00 | 242.00 | 489.00 | |
| 2013-12-31 | 1,190.00 | 214.00 | 499.00 | |
| 2013-09-30 | 1,186.00 | 252.00 | 368.00 | |
| 2013-06-30 | 1,178.00 | 245.00 | 367.00 | |
| 2013-03-31 | 1,178.00 | 242.00 | 377.00 | |
| 2012-12-31 | 1,179.00 | 244.00 | 372.00 | |
| 2012-09-30 | 1,130.00 | 182.00 | 491.00 |
*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.
- Sparebanken Møre has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Sparebanken Møre used its assets less efficiently than the NO Banks industry average last year based on Return on Assets.
- Unable to establish if Sparebanken Møre improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess Sparebanken Møre's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Sparebanken Møre 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.
MORG Health
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.
Balance sheet
Assets
Liabilities and shares
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.
All data from Sparebanken Møre Company Filings, last reported 3 months ago.
| Date (Data in NOK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 6,240.00 | 28,906.00 | 1,390.00 |
| 2018-12-31 | 6,394.00 | 29,456.00 | 2,248.00 |
| 2018-09-30 | 6,239.00 | 28,144.00 | 1,406.00 |
| 2018-06-30 | 6,094.00 | 29,521.00 | 950.00 |
| 2018-03-31 | 5,926.00 | 28,248.00 | 1,079.00 |
| 2017-12-31 | 6,078.00 | 26,878.00 | 1,641.00 |
| 2017-09-30 | 5,905.00 | 26,506.00 | 2,151.00 |
| 2017-06-30 | 5,773.00 | 25,777.00 | 2,256.00 |
| 2017-03-31 | 5,288.00 | 24,355.00 | 1,686.00 |
| 2016-12-31 | 5,441.00 | 22,919.00 | 1,526.00 |
| 2016-09-30 | 5,312.00 | 23,462.00 | 1,585.00 |
| 2016-06-30 | 5,153.00 | 24,352.00 | 2,409.00 |
| 2016-03-31 | 5,003.00 | 24,663.00 | 1,775.00 |
| 2015-12-31 | 5,112.00 | 24,895.00 | 2,290.00 |
| 2015-09-30 | 4,944.00 | 24,754.00 | 1,761.00 |
| 2015-06-30 | 4,835.00 | 23,257.00 | 2,201.00 |
| 2015-03-31 | 4,709.00 | 24,217.00 | 1,135.00 |
| 2014-12-31 | 4,845.00 | 22,512.00 | 979.00 |
| 2014-09-30 | 4,813.00 | 21,279.00 | 1,179.00 |
| 2014-06-30 | 4,658.00 | 20,509.00 | 1,404.00 |
| 2014-03-31 | 4,521.00 | 20,483.00 | 1,067.00 |
| 2013-12-31 | 4,491.00 | 21,534.00 | 1,870.00 |
| 2013-09-30 | 4,388.00 | 20,298.00 | 1,339.00 |
| 2013-06-30 | 3,774.00 | 19,945.00 | 1,032.00 |
| 2013-03-31 | 3,658.00 | 19,509.00 | 6,057.00 |
| 2012-12-31 | 3,761.00 | 19,862.00 | 6,788.00 |
| 2012-09-30 | 3,575.00 | 19,030.00 | 6,481.00 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- Sparebanken Møre has an acceptable proportion of non-loan assets held.
- Sparebanken Møre's liabilities are made up of primarily low risk sources of funding.
- Sparebanken Møre has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
- Sparebanken Møre's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
- Sparebanken Møre has a low allowance for bad loans.
- Sparebanken Møre has an acceptable level of bad loans (less than 2%).
Financial health checks
We assess Sparebanken Møre's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Sparebanken Møre has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
MORG Dividends
What is Sparebanken Møre'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
If you bought
NOK2,000 of
Sparebanken Møre
shares you are expected to receive
NOK98
in your first year as a dividend.
Dividend Amount
- Sparebanken Møre's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.5%).
- Sparebanken Møre's dividend is below the markets top 25% of dividend payers in Norway (6.38%).
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.
| 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 4 Analyst Estimates (S&P Global) | See Below |
| Norway Banks Industry Average Dividend Yield | Market Cap Weighted Average of 28 Stocks | 5.1% |
| Norway Market Average Dividend Yield | Market Cap Weighted Average of 110 Stocks | 4.5% |
| Norway Minimum Threshold Dividend Yield | 10th Percentile | 1.9% |
| Norway Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Norway Top 25% Dividend Yield | 75th Percentile | 6.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in NOK) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 17.63 | 4.00 |
| 2020-12-31 | 16.75 | 4.00 |
| 2019-12-31 | 16.00 | 4.00 |
| Date (Data in NOK) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-21 | 15.500 | 5.016 |
| 2019-01-24 | 15.500 | 5.346 |
| 2018-02-22 | 14.000 | 5.036 |
| 2018-01-25 | 14.000 | 5.182 |
| 2017-03-08 | 14.000 | 5.526 |
| 2017-01-26 | 14.000 | 5.455 |
| 2016-03-17 | 11.500 | 5.643 |
| 2016-01-28 | 11.500 | 6.037 |
| 2015-03-26 | 13.500 | 6.388 |
| 2015-01-29 | 13.500 | 5.738 |
| 2014-03-27 | 8.000 | 3.880 |
| 2014-01-30 | 8.000 | 3.993 |
| 2013-03-25 | 12.000 | 6.198 |
| 2013-01-15 | 12.000 | 6.523 |
| 2012-02-29 | 8.000 | 5.087 |
| 2012-02-02 | 8.000 | 4.583 |
| 2011-03-09 | 12.000 | 6.521 |
| 2011-02-02 | 12.000 | 5.670 |
| 2010-06-11 | 12.000 | 6.307 |
| 2010-01-04 | 10.000 | 5.277 |
| 2009-03-02 | 16.667 | 10.672 |
| 2009-01-05 | 16.667 | 11.413 |
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 fallen over the past 10 years.
Income/ dividend checks
We assess Sparebanken Møre's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Sparebanken Møre afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Sparebanken Møre has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
MORG Management
CEO
| COMPENSATION | NOK2,976,000 |
| AGE | 49 |
| TENURE AS CEO | 2.3 years |
CEO Bio
Mr. Trond Lars Nydal serves as an Executive Vice President of Retail Banking Division at Sparebanken Møre and served as its Executive Vice President, Ålesund and Sula Region Retail Banking since 2008. Mr. Nydal served as Executive Vice President of Inner Region at Sparebanken Møre since 2003. Mr. Nydal served at Sparebanken Møre as Sales Consultant since 1997. He serves as a Director of Møre Boligkreditt AS. He is Business School Graduate from NHH in 1997.
CEO Compensation
- Trond's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
- Trond's remuneration is about average for companies of similar size in Norway.
Management Team Tenure
Average tenure and age of the Sparebanken Møre management team in years:
- The tenure for the Sparebanken Møre management team is about average.
Management Team
Trond Nydal
Chief Executive Officer
NOK3M
49
2.3 yrs
Idar Vattøy
Executive Vice President of Finance & Facilities Management
NOK1M
60
1.8 yrs
Tone Gjerdsbakk
Public Information Manager and Executive VP of Communication & Group Support
NOK1M
37
Erik Røkke
Executive Vice President of Risk Management & Compliance
NOK2M
50
Perdy Lunde
Executive Vice President of Business Support
NOK1M
62
17.5 yrs
Terje Krøvel
Executive Vice President of Corporate Banking Division
NOK2M
60
Kjetil Hauge
Executive Vice President of Organisational Development
NOK1M
47
1.8 yrs
Arild Sulebakk
Executive Vice President of Customer Experience
NOK1M
56
Elisabeth Blomvik
Executive Vice President of Retail Banking Division
NOK2M
41
2 yrs
Runar Sandanger
Head of Treasury & Markets and Director
NOK2M
62
Board of Directors Tenure
Average tenure and age of the Sparebanken Møre board of directors in years:
- The tenure for the Sparebanken Møre board of directors is about average.
Board of Directors
Leif-Arne Langøy
Chairman of Board of Directors
NOK380K
63
8.5 yrs
Roy Reite
Deputy Chairman
NOK186K
54
Runar Sandanger
Head of Treasury & Markets and Director
NOK2M
62
Roald Fiksdal
Chairman of Thetresfjord Bridge & Thevagetunnel
Tormod Hvattum
Chairman of Parent Bank
Finn Stene
Deputy Chairman of Trustee
0.3 yrs
Jan Aurdal
Chairman of Trustee
2.5 yrs
Helge Knudsen
Director
NOK160K
65
5.5 yrs
Ragna Bjerkeset
Director
NOK166K
57
8.5 yrs
Ann Magritt Vikebakk
Director
NOK175K
42
5.5 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Sparebanken Møre individual insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (NOK) | Value (NOK) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14. May 19 | Buy | Roy Reite | Individual | 14. May 19 | 14. May 19 | 1,000 | NOK311.49 | NOK311,490 | ||
| 12. Dec 18 | Sell | Sigrun Rekkedal Ambakk | Individual | 05. Dec 18 | 05. Dec 18 | -26 | NOK280.34 | NOK-7,289 | ||
| 06. Nov 18 | Buy | Karen Synnes | Individual | 06. Nov 18 | 06. Nov 18 | 68 | NOK282.00 | NOK19,176 | ||
| 06. Nov 18 | Buy | Sandra Helseth | Individual | 06. Nov 18 | 06. Nov 18 | 80 | NOK282.00 | NOK22,560 | ||
| 06. Nov 18 | Buy | Elisabeth Blomvik | Individual | 06. Nov 18 | 06. Nov 18 | 93 | NOK282.00 | NOK26,226 | ||
| 06. Nov 18 | Buy | Marie Hide | Individual | 06. Nov 18 | 06. Nov 18 | 67 | NOK282.00 | NOK18,894 | ||
| 06. Nov 18 | Buy | Sigrun Rekkedal Ambakk | Individual | 06. Nov 18 | 06. Nov 18 | 68 | NOK282.00 | NOK19,176 | ||
| 06. Nov 18 | Buy | Tone Gjerdsbakk | Individual | 06. Nov 18 | 06. Nov 18 | 86 | NOK282.00 | NOK24,252 | ||
| 06. Nov 18 | Buy | Marian Barstad | Individual | 06. Nov 18 | 06. Nov 18 | 77 | NOK282.00 | NOK21,714 | ||
| 06. Nov 18 | Buy | Anne-Britt Jensen | Individual | 06. Nov 18 | 06. Nov 18 | 70 | NOK282.00 | NOK19,740 | ||
| 06. Nov 18 | Buy | Erik Røkke | Individual | 06. Nov 18 | 06. Nov 18 | 90 | NOK282.00 | NOK25,380 | ||
| 06. Nov 18 | Buy | Anders Lausund | Individual | 06. Nov 18 | 06. Nov 18 | 67 | NOK282.00 | NOK18,894 | ||
| 06. Nov 18 | Buy | Idar Vattøy | Individual | 06. Nov 18 | 06. Nov 18 | 89 | NOK282.00 | NOK25,098 | ||
| 06. Nov 18 | Buy | Arild Sulebakk | Individual | 06. Nov 18 | 06. Nov 18 | 86 | NOK282.00 | NOK24,252 | ||
| 06. Nov 18 | Buy | Kjetil Hauge | Individual | 06. Nov 18 | 06. Nov 18 | 86 | NOK282.00 | NOK24,252 | ||
| 06. Nov 18 | Buy | Ove Ness | Individual | 06. Nov 18 | 06. Nov 18 | 82 | NOK282.00 | NOK23,124 | ||
| 06. Nov 18 | Buy | Helge Knudsen | Individual | 06. Nov 18 | 06. Nov 18 | 68 | NOK282.00 | NOK19,176 | ||
| 06. Nov 18 | Buy | Terje Krøvel | Individual | 06. Nov 18 | 06. Nov 18 | 95 | NOK282.00 | NOK26,790 | ||
| 06. Nov 18 | Buy | Perdy Lunde | Individual | 06. Nov 18 | 06. Nov 18 | 89 | NOK282.00 | NOK25,098 | ||
| 06. Nov 18 | Buy | Runar Sandanger | Individual | 06. Nov 18 | 06. Nov 18 | 95 | NOK282.00 | NOK26,790 | ||
| 04. Sep 18 | Sell | Ove Ness | Individual | 04. Sep 18 | 04. Sep 18 | -100 | NOK282.00 | NOK-28,200 | ||
Management checks
We assess Sparebanken Møre's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Sparebanken Møre 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.
MORG News
Simply Wall St News
Is Sparebanken Møre's (OB:MORG) Future Growth Already Accounted For In Today's Price?
See our latest analysis for Sparebanken Møre What can we expect from Sparebanken Møre in the future? … But, to properly examine the value of a high-growth stock such as Sparebanken Møre, we must reflect its earnings growth into the valuation. … A PE ratio of 10.28x and expected year-on-year earnings growth of 13% give Sparebanken Møre a very low PEG ratio of 0.78x.
Simply Wall St - – Full articleWith EPS Growth And More, Sparebanken Møre (OB:MORG) Is Interesting
One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. … Sparebanken Møre maintained stable EBIT margins over the last year, all while growing revenue 7.1% to øre1.4b. … You can take a look at the company's revenue and earnings growth trend, in the chart below
Simply Wall St - – Full articleInvestors Who Bought Sparebanken Møre (OB:MORG) Shares Three Years Ago Are Now Up 66%
Just take a look at Sparebanken Møre (OB:MORG), which is up 66%, over three years, soundly beating the market return of 32% (not including dividends). … During three years of share price growth, Sparebanken Møre achieved compound earnings per share growth of 5.5% per year. … It might be well worthwhile taking a look at our free report on Sparebanken Møre's earnings, revenue and cash flow.
Simply Wall St - – Full articleCould The Sparebanken Møre (OB:MORG) Ownership Structure Tell Us Something Useful?
If you want to know who really controls Sparebanken Møre (OB:MORG), then you'll have to look at the makeup of its share registry. … Sparebanken Møre is a smaller company with a market capitalization of øre3.0b, so it may still be flying under the radar of many institutional investors. … institutional investors have bought into the company.
Simply Wall St - – Full articleSparebanken Møre (OB:MORG) Will Pay øre15.50 In Dividends
To qualify for the dividend check of øre15.50 per share, investors must have owned the shares prior to 21 March 2019, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:? … Has its dividend been stable over the past (i.e. no missed payments or significant payout cuts)?
Simply Wall St - – Full articleIs Sparebanken Møre (OB:MORG) Over-Exposed To Risk?
As a small-cap bank with a market capitalisation of øre2.9b, Sparebanken Møre’s (OB:MORG) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Sparebanken Møre’s bottom line. … See our latest analysis for Sparebanken Møre
Simply Wall St - – Full articleWhat Do Analysts Think About Sparebanken Møre's (OB:MORG) Future?
On 31 December 2018, Sparebanken Møre (OB:MORG) released its earnings update. … as earnings are expected to increase by more than twofold next year,
Simply Wall St - – Full articleHow Does Sparebanken Møre (OB:MORG) Fare As A Dividend Stock?
Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, Sparebanken Møre (OB:MORG) has been paying a dividend to shareholders. … Let's dig deeper into whether Sparebanken Møre should have a place in your portfolio.
Simply Wall St - – Full articleHow Much Are Sparebanken Møre (OB:MORG) Insiders Spending On Buying Shares?
So we'll take a look at whether insiders have been buying or selling shares in Sparebanken Møre (OB:MORG). … Sparebanken Møre Insider Transactions Over The Last Year. … In the last twelve months there was more buying than selling by Sparebanken Møre insiders
Simply Wall St - – Full articleInvestors Are Undervaluing Sparebanken Møre (OB:MORG) By 28.73%
MORG operates in the banking industry, which has characteristics that make it unique compared to other sectors. … Understanding these differences is crucial when it comes to putting a value on the bank stock. … For example, banks are required to hold more capital to reduce the risk to depositors.
Simply Wall St - – Full articleMORG Company Info
Description
Sparebanken Møre, together with its subsidiaries, provides banking services for retail and corporate customers primarily in Møre og Romsdal, Norway. It operates through Corporate, Retail, and Real Estate Brokerage segments. The company offers services in the areas of deposits and other forms of investments, asset management, financing, financial advisory, payment transfers, currency and interest rate hedging, insurance, real estate brokerage, and real estate management, as well as provides foreign exchange services. As of December 31, 2017, it operated through a network of 28 branches located in 16 municipalities of Sunnmøre, 6 municipalities of Romsdal, and 2 municipalities of Nordmøre. The company was founded in 1843 and is headquartered in Ålesund, Norway.
Details
| Name: | Sparebanken Møre |
| MORG | |
| Exchange: | OB |
| Founded: | 1843 |
| NOK3,076,982,064 | |
| 9,862,122 | |
| Website: | http://www.sbm.no |
| Address: |
Sparebanken Møre Keiser Wilhelmsgt. 29/33, PO Box 121, Ålesund, Møre og Romsdal, 6001, Norway |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| OB | MORG | Primary Capital Certificates | Oslo Bors | NO | NOK | 02. Jan 1992 |
Number of employees
Current staff
Industry
| Regional Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/23 23:30 |
| End of day share price update: | 2019/07/23 00:00 |
| Last estimates confirmation: | 2019/07/11 |
| Last earnings filing: | 2019/04/25 |
| Last earnings reported: | 2019/03/31 |
| 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.
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