Stock Analysis Report

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Executive Summary

Pareto Bank ASA provides various banking products and services in Norway. More Details

Snowflake Analysis

Good value with proven track record.

Share Price & News

How has Pareto Bank's share price performed over time and what events caused price changes?

Latest Share Price and Events

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

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

Market Performance

7 Day Return




NO Banks


NO Market

1 Year Return




NO Banks


NO Market

Return vs Industry: PARB matched the Norwegian Banks industry which returned -1.2% over the past year.

Return vs Market: PARB underperformed the Norwegian Market which returned 9.3% over the past year.

Shareholder returns

7 Day-0.2%3.6%-0.8%
30 Day9.7%3.0%-0.2%
90 Day4.9%7.0%9.9%
1 Year6.0%0.7%3.6%2.5%13.8%10.2%
3 Year23.1%10.0%22.9%10.9%14.4%1.7%
5 Year112.5%80.6%115.2%78.1%74.9%42.0%

Long-Term Price Volatility Vs. Market

How volatile is Pareto Bank's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Pareto Bank 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: PARB (NOK42.3) is trading below our estimate of fair value (NOK75.89)

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

Price To Earnings Ratio

PE vs Industry: PARB is good value based on its PE Ratio (7.1x) compared to the NO Banks industry average (10.3x).

PE vs Market: PARB is good value based on its PE Ratio (7.1x) compared to the Norwegian market (14.5x).

Price to Earnings Growth Ratio

PEG Ratio: PARB is poor value based on its PEG Ratio (1.2x)

Price to Book Ratio

PB vs Industry: PARB is overvalued based on its PB Ratio (0.8x) compared to the NO Banks industry average (0.5x).

Next Steps

Future Growth

How is Pareto Bank forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PARB's forecast earnings growth (5.8% per year) is above the savings rate (1.4%).

Earnings vs Market: PARB's earnings (5.8% per year) are forecast to grow slower than the Norwegian market (26.4% per year).

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

Revenue vs Market: PARB's revenue (7% per year) is forecast to grow slower than the Norwegian market (7.9% per year).

High Growth Revenue: PARB's revenue (7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PARB's Return on Equity is forecast to be low in 3 years time (12.3%).

Next Steps

Past Performance

How has Pareto Bank performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PARB has high quality earnings.

Growing Profit Margin: PARB's current net profit margins (60.4%) are higher than last year (60%).

Past Earnings Growth Analysis

Earnings Trend: PARB's earnings have grown by 15.3% per year over the past 5 years.

Accelerating Growth: PARB's earnings growth over the past year (7.8%) is below its 5-year average (15.3% per year).

Earnings vs Industry: PARB earnings growth over the past year (7.8%) exceeded the Banks industry -2.7%.

Return on Equity

High ROE: PARB's Return on Equity (12.1%) is considered low.

Next Steps

Financial Health

How is Pareto Bank'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: PARB's Assets to Equity ratio (5.5x) is low.

Allowance for Bad Loans: Insufficient data to determine if PARB has a sufficient allowance for bad loans.

Low Risk Liabilities: 66% of PARB's liabilities are made up of primarily low risk sources of funding.

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

Low Risk Deposits: PARB's Loans to Deposits ratio (140%) is high.

Level of Bad Loans: Insufficient data to determine if PARB has an appropriate level of bad loans.

Next Steps


What is Pareto Bank current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PARB's dividend (3.55%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.07%).

High Dividend: PARB's dividend (3.55%) is low compared to the top 25% of dividend payers in the Norwegian market (5.56%).

Stability and Growth of Payments

Stable Dividend: PARB has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PARB's dividend payments have increased, but the company has only paid a dividend for 6 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25%), PARB's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: PARB's dividends in 3 years are forecast to be covered by earnings (55.7% payout ratio).

Next Steps


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


Average management tenure


Tiril Villum





Ms. Tiril Haug Villum has been the Chief Executive Officer at Pareto Bank ASA at Pareto AS since 2011. Ms. Villum served as Chief Financial Officer at Pareto Bank ASA. She served as Chief Financial Officer...

CEO Compensation Analysis

Compensation vs Market: Tiril's total compensation ($USD499.13K) is about average for companies of similar size in the Norwegian market ($USD563.64K).

Compensation vs Earnings: Tiril's compensation has been consistent with company performance over the past year.

Leadership Team

Tiril Villum
Chief Executive Officer10.08yrskr4.24m0.46%
NOK 13.5m
Erling Mork
CFO and Head of finance & accountingno datakr3.15m0.11%
NOK 3.1m
Erik Skarbøvig
Head of Corporate Financeno datakr3.60m0.096%
NOK 2.8m
Per Schiong
Executive Director of Creditno datakr3.80m0.11%
NOK 3.2m
Caroline Sem
Marketing Managerno datano datano data
Anders Jørgensen
2.17yrsno datano data
Mats Gehrken
Heads of Operational Financing2.08yrsno datano data
Monica Mælen
Treasury1.92yrsno datano data
Espen Bekvik
Controller1.83yrsno datano data


Average Tenure

Experienced Management: PARB's management team is considered experienced (2.1 years average tenure).

Board Members

Åsmund Skår
Chairman of the Boardno datakr500.00k0.034%
NOK 995.2k
Nils Hjellegjerde
Deputy Memberno datano datano data
Brita Eilertsen
Deputy Chairmanno datakr420.00kno data
Peter Knudsen
NOK 42.3k
Hilde Vatne
Director1.92yrskr380.00kno data
Trine Høgås-Ellingsen
Deputy Directorno datakr20.00kno data
Trine Ludvigsen
Deputy Employee Directorno datakr1.56m0.025%
NOK 728.3k
Eyvind Width
Director1.92yrskr400.00kno data
Per Nicolaisen
Deputy Director1.92yrskr20.00kno data
Lars Erik Næss
NOK 1.8m
Jon Henrik Piela
Employee Deputy Memberno datano datano data
Eivind Kvaale
Deputy Member1.08yrsno datano data


Average Tenure


Average Age

Experienced Board: PARB's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


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

Pareto Bank ASA's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Pareto Bank ASA
  • Ticker: PARB
  • Exchange: OB
  • Founded: 2007
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr2.955b
  • Shares outstanding: 69.85m
  • Website: https://www.paretobank.no

Number of Employees


  • Pareto Bank ASA
  • Dronning Mauds gate 3
  • Oslo
  • Oslo
  • 250
  • Norway


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PARBOB (Oslo Bors)YesShare CapitalNONOKMar 2014
0RI3LSE (London Stock Exchange)YesShare CapitalGBNOKMar 2014
8PBDB (Deutsche Boerse AG)YesShare CapitalDEEURMar 2014
PARBOBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBNOKMar 2014


Pareto Bank ASA provides various banking products and services in Norway. The company offers financing for housing and business projects; companies with a specific need for capital; conventional and indust...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/24 17:21
End of Day Share Price2021/02/24 00:00
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.