Reported Earnings • May 11
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: kr3.15. Revenue: kr1.44b (down 3.9% from 1Q 2025). Net income: kr709.0m (up 98% from 1Q 2025). Profit margin: 49% (up from 24% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.2%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Banks industry in Norway. Upcoming Dividend • Mar 20
Upcoming dividend of kr8.50 per share Eligible shareholders must have bought the stock before 27 March 2026. Payment date: 08 April 2026. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 5.5%. Lower than top quartile of Norwegian dividend payers (7.3%). In line with average of industry peers (6.1%). Declared Dividend • Feb 15
Dividend reduced to kr8.50 Dividend of kr8.50 is 2.9% lower than last year. Ex-date: 27th March 2026 Payment date: 8th April 2026 Dividend yield will be 5.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (56% payout ratio) and is expected to be covered in 3 years' time (73% forecast payout ratio). The dividend has increased by an average of 16% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 3.3% over the next 3 years. However, it would need to fall by 37% to increase the payout ratio to a potentially unsustainable range. New Risk • Feb 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Feb 13
SpareBank 1 Nord-Norge announces Annual dividend, payable on April 08, 2026 SpareBank 1 Nord-Norge announced Annual dividend of NOK 8.5000 per share payable on April 08, 2026, ex-date on March 27, 2026 and record date on March 30, 2026. Announcement • Oct 30
SpareBank 1 Nord-Norge, Annual General Meeting, Mar 26, 2026 SpareBank 1 Nord-Norge, Annual General Meeting, Mar 26, 2026. Reported Earnings • Oct 29
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: kr3.99. Revenue: kr1.62b (down 20% from 3Q 2024). Net income: kr893.0m (up 47% from 3Q 2024). Profit margin: 55% (up from 30% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Banks industry in Norway. Price Target Changed • Oct 15
Price target increased by 8.1% to kr150 Up from kr139, the current price target is an average from 3 analysts. New target price is 6.1% above last closing price of kr141. Stock is up 26% over the past year. The company is forecast to post earnings per share of kr14.29 for next year compared to kr16.30 last year. Reported Earnings • Aug 10
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: kr4.20 (up from kr3.37 in 2Q 2024). Revenue: kr1.70b (up 20% from 2Q 2024). Net income: kr938.0m (up 228% from 2Q 2024). Profit margin: 55% (up from 20% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is expected to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to grow by 3.1%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 28
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from kr13.12 to kr14.50. Revenue forecast steady at kr6.05b. Net income forecast to grow 86% next year vs 117% growth forecast for Banks industry in Norway. Consensus price target up from kr134 to kr139. Share price fell 3.1% to kr144 over the past week. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: kr3.57 (vs kr3.14 in 1Q 2024) First quarter 2025 results: EPS: kr3.57 (up from kr3.14 in 1Q 2024). Revenue: kr1.50b (up 6.8% from 1Q 2024). Net income: kr801.0m (up 121% from 1Q 2024). Profit margin: 53% (up from 26% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Apr 11
SpareBank 1 Nord-Norge Approves Board and Committee Elections SpareBank 1 Nord-Norge at its supervisory board meeting held on April 8, 2025, approved election of Council of Representatives: Deputy Chair Gro-Marith Karlsen was elected for the period 2025/2026. Council of representatives Nomination Committee: Member Rita Myrvang was elected for the period 2025/2026. Deputy Member Christine Møller was elected for the period 2025/2026. Board: Deputy Chair Kathrine Tveiterås was elected for the period 2025. Member Gry Agnete Alsos was elected for the period 2025/2026. Member Inger Lise Strøm was elected for the period 2025/2026. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr120, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Banks industry in Norway. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Apr 02
Upcoming dividend of kr8.75 per share Eligible shareholders must have bought the stock before 09 April 2025. Payment date: 16 April 2025. Payout ratio is a comfortable 54% but the company is not cash flow positive. Trailing yield: 6.1%. Lower than top quartile of Norwegian dividend payers (8.7%). In line with average of industry peers (6.0%). Board Change • Feb 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Director Rolf Bygdnes was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 01
SpareBank 1 Nord-Norge, Annual General Meeting, Apr 08, 2025 SpareBank 1 Nord-Norge, Annual General Meeting, Apr 08, 2025. Announcement • Nov 22
Sparebank 1 Nord-Norge Announces Organizational Changes SpareBank 1 Nord-Norge announced that Within Customer and Business Value, the divisions for retail and corporate markets are strengthened. They will, among other things, be responsible for the respective credit areas, while subsidiaries EiendomsMegler 1, SNN Finans, and SpareBank 1 Regnskapshuset will be more closely linked to the divisions to strengthen collaboration and prioritization. The units for Business and Risk Management are consolidated and refined. Group Finance is strengthened with the department for sustainability and a dedicated team for project implementation, while Risk Management is refined as a control function. Regarding Business Development, Efficiency, and Support, organizational and business support is consolidated into one unit to provide both synergies and increased efficiency. The Group maintains its strong position in the SpareBank 1 alliance by mainly retaining alliance functions in one unit; Business Development and Technology. The new organization will be effective from January 1, 2025. Announcement • Nov 21
Sarebank 1 Nord-Norge Announces Changes to Its Group Management Team SpareBank 1 Nord-Norge announced that Changes are also being made to the company's corporate management. Lasse Hagerupsen, who has been part of the corporate management since 2014, has decided to seek new challenges outsides the Group. Turid Aspenes is also stepping down from the Group management team and is taking on the role of leading the project implementation team. The company also appointed Birgitte Nygård Vibe, Executive director Business Development and Technology. Reported Earnings • Nov 01
Third quarter 2024 earnings: Revenues exceed analyst expectations Third quarter 2024 results: Revenue: kr2.03b (up 74% from 3Q 2023). Net income: kr1.34b (up 483% from 3Q 2023). Profit margin: 66% (up from 20% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 15%. Revenue is forecast to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to remain flat. Reported Earnings • Aug 10
Second quarter 2024 earnings: Revenues exceed analyst expectations Second quarter 2024 results: Revenue: kr1.46b (up 25% from 2Q 2023). Net income: kr742.0m (up 205% from 2Q 2023). Profit margin: 51% (up from 21% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to remain flat. Reported Earnings • May 10
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: kr3.14. Revenue: kr1.40b (up 6.0% from 1Q 2023). Net income: kr705.0m (up 114% from 1Q 2023). Profit margin: 50% (up from 25% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Banks industry in Norway. Upcoming Dividend • Mar 08
Upcoming dividend of kr7.00 per share Eligible shareholders must have bought the stock before 15 March 2024. Payment date: 04 April 2024. Payout ratio is a comfortable 62% but the company is not cash flow positive. Trailing yield: 6.9%. Lower than top quartile of Norwegian dividend payers (7.8%). In line with average of industry peers (7.3%). Reported Earnings • Feb 11
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: kr11.38 (up from kr8.25 in FY 2022). Revenue: kr5.18b (up 30% from FY 2022). Net income: kr1.14b (up 38% from FY 2022). Profit margin: 22% (up from 21% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.85% (up from 2.09% in FY 2022). Cost-to-income ratio: 36.0% (down from 40.3% in FY 2022). Non-performing loans: 0.73% (up from 0.71% in FY 2022). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 10% per year. Announcement • Feb 08
Sparebank 1 Nord-Norge Proposes Cash Dividend, Payable on 4 April 2024 SpareBank 1 Nord-Norge proposed cash dividend of NOK 7.0 per share. Last day including right: 30 March 2023, Ex-date:15 March 2024, Record date: 18 March 2024 Payment date: 4 April 2024 and Date of approval: 14 March 2024. Announcement • Jan 26
SpareBank 1 Nord-Norge to Report Fiscal Year 2023 Final Results on Mar 14, 2024 SpareBank 1 Nord-Norge announced that they will report fiscal year 2023 final results on Mar 14, 2024 Reported Earnings • Oct 30
Third quarter 2023 earnings: Revenues miss analyst expectations Third quarter 2023 results: Revenue: kr1.17b (up 28% from 3Q 2022). Net income: kr509.0m (up 193% from 3Q 2022). Profit margin: 44% (up from 19% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 8.2%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Norway. Reported Earnings • May 12
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: kr7.10 (up from kr2.02 in 1Q 2022). Revenue: kr1.32b (up 38% from 1Q 2022). Net income: kr713.0m (up 244% from 1Q 2022). Profit margin: 54% (up from 22% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 24
Upcoming dividend of kr8.20 per share at 9.0% yield Eligible shareholders must have bought the stock before 31 March 2023. Payment date: 17 April 2023. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 9.0%. Within top quartile of Norwegian dividend payers (8.3%). Higher than average of industry peers (6.5%). Reported Earnings • Feb 10
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: kr18.17 (up from kr10.41 in FY 2021). Revenue: kr4.00b (down 12% from FY 2021). Net income: kr1.82b (up 75% from FY 2021). Profit margin: 46% (up from 23% in FY 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) also surpassed analyst estimates by 5.8%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Feb 10
Sparebank 1 Nord-Norge Proposes Cash Dividend, Payable on 17 April 2023 SpareBank 1 Nord-Norge proposed cash dividend of NOK 8.20 per share. Last day including right: 30 March 2023, Ex-date: 31 March 2023, Record date: 3 April 2023 Payment date: 17 April 2023 and Date of approval: 30 March 2023. Announcement • Feb 02
SpareBank 1 Nord-Norge to Report Fiscal Year 2022 Results on Feb 09, 2023 SpareBank 1 Nord-Norge announced that they will report fiscal year 2022 results at 4:00 PM, Central European Standard Time on Feb 09, 2023 Buying Opportunity • Dec 27
Now 20% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be kr118, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 4.3%. Revenue is forecast to grow by 9.6% in 2 years. Earnings is forecast to grow by 157% in the next 2 years. Buying Opportunity • Dec 07
Now 21% undervalued Over the last 90 days, the stock is up 5.0%. The fair value is estimated to be kr113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 4.3%. Revenue is forecast to grow by 9.5% in 2 years. Earnings is forecast to grow by 157% in the next 2 years. Board Change • Nov 16
No independent directors There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 9 non-independent directors. Director Sigurd Carlsen was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: kr3.82 (vs kr2.42 in 3Q 2021) Third quarter 2022 results: EPS: kr3.82 (up from kr2.42 in 3Q 2021). Revenue: kr916.0m (down 13% from 3Q 2021). Net income: kr383.0m (up 55% from 3Q 2021). Profit margin: 42% (up from 23% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 30
Upcoming dividend of kr3.40 per share Eligible shareholders must have bought the stock before 06 September 2022. Payment date: 20 September 2022. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 7.8%. Within top quartile of Norwegian dividend payers (7.3%). Higher than average of industry peers (5.3%). Major Estimate Revision • Aug 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from kr8.72 to kr7.85 per share. Revenue forecast steady at kr3.90b. Net income forecast to grow 105% next year vs 95% growth forecast for Banks industry in Norway. Consensus price target of kr108 unchanged from last update. Share price was steady at kr94.80 over the past week. Reported Earnings • Aug 12
Second quarter 2022 earnings: Revenues miss analyst expectations Second quarter 2022 results: Revenue: kr827.0m (down 24% from 2Q 2021). Net income: kr335.0m (up 26% from 2Q 2021). Profit margin: 41% (up from 25% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.8%. Over the next year, revenue is expected to shrink by 4.1% compared to a 8.5% growth forecast for the industry in Norway. Reported Earnings • May 08
First quarter 2022 earnings: Revenues miss analyst expectations First quarter 2022 results: Revenue: kr960.0m (down 2.5% from 1Q 2021). Net income: kr447.0m (up 105% from 1Q 2021). Profit margin: 47% (up from 22% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.5%. Over the next year, revenue is expected to shrink by 11% compared to a 8.9% growth forecast for the industry in Norway. Board Change • Apr 27
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 7 non-independent directors. Employee Representative Director Cecilie Wirkola was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Upcoming Dividend • Mar 18
Upcoming dividend of kr7.00 per share Eligible shareholders must have bought the stock before 25 March 2022. Payment date: 12 April 2022. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 6.3%. Within top quartile of Norwegian dividend payers (6.1%). Higher than average of industry peers (4.9%). Recent Insider Transactions • Mar 10
Chief Financial Officer recently bought kr499k worth of stock On the 8th of March, Bengt Olsen bought around 5k shares on-market at roughly kr99.80 per share. This was the largest purchase by an insider in the last 3 months. This was Bengt's only on-market trade for the last 12 months. Reported Earnings • Feb 11
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: kr10.41 (up from kr7.89 in FY 2020). Revenue: kr4.54b (up 22% from FY 2020). Net income: kr2.28b (up 188% from FY 2020). Profit margin: 50% (up from 21% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 7.6% compared to a 11% growth forecast for the banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 19
Price target increased to kr116 Up from kr107, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of kr112. Stock is up 41% over the past year. The company is forecast to post earnings per share of kr9.94 for next year compared to kr7.89 last year. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS kr2.42 (vs kr2.28 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr1.06b (up 4.5% from 3Q 2020). Net income: kr531.0m (up 131% from 3Q 2020). Profit margin: 50% (up from 23% in 3Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Aug 19
Consensus EPS estimates increase to kr9.03 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from kr3.83b to kr4.01b. EPS estimate increased from kr7.99 to kr9.03 per share. Net income forecast to grow 117% next year vs 37% growth forecast for Banks industry in Norway. Consensus price target broadly unchanged at kr93.25. Share price was steady at kr87.30 over the past week. Reported Earnings • Aug 13
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr1.09b (up 11% from 2Q 2020). Net income: kr571.0m (up 153% from 2Q 2020). Profit margin: 52% (up from 23% in 2Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 12
Price target increased to kr91.75 Up from kr85.00, the current price target is an average from 4 analysts. New target price is 6.4% above last closing price of kr86.20. Stock is up 36% over the past year. Recent Insider Transactions • Jun 18
Insider recently bought kr196k worth of stock On the 10th of June, Trude Slettli bought around 2k shares on-market at roughly kr85.00 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr3.1m more in shares than they have sold in the last 12 months. Reported Earnings • May 13
First quarter 2021 earnings released: EPS kr4.68 (vs kr1.74 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr985.0m (up 16% from 1Q 2020). Net income: kr470.0m (up 164% from 1Q 2020). Profit margin: 48% (up from 21% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS kr7.89 (vs kr9.41 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr3.73b (down 9.4% from FY 2019). Net income: kr792.0m (down 16% from FY 2019). Profit margin: 21% (down from 23% in FY 2019). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 1.77% (down from 1.92% in FY 2019). Cost-to-income ratio: 43.7% (up from 42.9% in FY 2019). Non-performing loans: 0.50% (up from 0.41% in FY 2019). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Mar 19
Upcoming Dividend of kr1.27 Per Share Will be paid on the 14th of April to those who are registered shareholders by the 26th of March. The trailing yield of 4.7% is below the top quartile of Norwegian dividend payers (4.9%), but is in line with industry peers (4.5%). Is New 90 Day High Low • Mar 04
New 90-day high: kr81.20 The company is up 11% from its price of kr72.90 on 04 December 2020. The Norwegian market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr106 per share. Reported Earnings • Feb 12
Full year 2020 earnings released: EPS kr17.35 (vs kr9.41 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: kr3.73b (down 9.4% from FY 2019). Net income: kr1.74b (up 84% from FY 2019). Profit margin: 47% (up from 23% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue and earnings miss expectations Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 3.5%, compared to a 16% growth forecast for the Banks industry in Norway. Is New 90 Day High Low • Jan 18
New 90-day high: kr77.50 The company is up 19% from its price of kr65.40 on 20 October 2020. The Norwegian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr111 per share. Price Target Changed • Jan 15
Price target raised to kr79.25 Up from kr73.50, the current price target is an average from 4 analysts. The new target price is 5.4% above the current share price of kr75.20. As of last close, the stock is down 5.9% over the past year. Recent Insider Transactions • Nov 07
Chief Financial Officer recently bought kr1.0m worth of stock On the 30th of October, Bengt Olsen bought around 16k shares on-market at roughly kr62.98 per share. This was the largest purchase by an insider in the last 3 months. Bengt has been a buyer over the last 12 months, purchasing a net total of kr3.0m worth in shares. Is New 90 Day High Low • Oct 29
New 90-day low: kr60.90 The company is down 1.0% from its price of kr61.80 on 30 July 2020. The Norwegian market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr90.20 per share. Recent Insider Transactions • Oct 26
Chief Financial Officer recently bought kr996k worth of stock On the 23rd of October, Bengt Olsen bought around 15k shares on-market at roughly kr66.39 per share. This was the largest purchase by an insider in the last 3 months. This was Bengt's only on-market trade for the last 12 months. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of kr1.47b, up 46% from the prior year. Total revenue was kr3.69b over the last 12 months, down 11% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 24
Third-quarter earnings released: Revenue and earnings beat expectations Third-quarter revenue exceeded analyst estimates by 13% at kr1.07b. Earnings per share (EPS) also surpassed analyst estimates by 31% at kr2.28. Revenue is forecast to grow 2.9% over the next year, compared to a 24% growth forecast for the Banks industry in Norway. 
