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RING

SpareBank 1 Ringerike HadelandOB:RING Stock Report

Market Cap

kr4.8b

7D

2.7%

1Y

36.3%

Updated

27 Sep, 2021

Data

Company Financials +
RING fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance5/6
Financial Health3/6
Dividends5/6

RING Overview

SpareBank 1 Ringerike Hadeland provides various banking products and services to retail and corporate customers in Norway.

Price History & Performance

Summary of all time highs, changes and price drops for SpareBank 1 Ringerike Hadeland
Historical stock prices
Current Share Pricekr308.00
52 Week Highkr220.00
52 Week Lowkr312.00
Beta0.35
1 Month Change6.21%
3 Month Change8.45%
1 Year Change36.28%
3 Year Change60.42%
5 Year Change81.18%
Change since IPO120.00%

Recent News & Updates

Shareholder Returns

RINGNO BanksNO Market
7D2.7%2.7%1.2%
1Y36.3%45.1%26.4%

Return vs Industry: RING underperformed the Norwegian Banks industry which returned 45.1% over the past year.

Return vs Market: RING exceeded the Norwegian Market which returned 26.4% over the past year.

Price Volatility

Is RING's price volatile compared to industry and market?
RING volatility
RING Beta0.35
Industry Beta0.87
Market Beta1

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

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

About the Company

FoundedEmployeesCEOWebsite
1833227Steinar Hauglihttps://www.sparebank1.no/ringerike-hadeland

SpareBank 1 Ringerike Hadeland provides various banking products and services to retail and corporate customers in Norway. The company offers saving, deposit, and currency accounts; vehicle, house and travel, and pet insurance products, as well as life, children, disability, critical illness, accident, health, and business and personal products; mobile and online banking services; and debit and credit cards. It also provides mortgages; car, boat, and other vehicles; consumer and other loans; and bank guarantees, construction loans, trade credit, and operating credit for agriculture, as well as factoring, leasing, and repayment services.

SpareBank 1 Ringerike Hadeland Fundamentals Summary

How do SpareBank 1 Ringerike Hadeland's earnings and revenue compare to its market cap?
RING fundamental statistics
Market Capkr4.79b
Earnings (TTM)kr421.62m
Revenue (TTM)kr891.00m

11.4x

P/E Ratio

1.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RING income statement (TTM)
Revenuekr891.00m
Cost of Revenuekr0
Gross Profitkr891.00m
Expenseskr469.38m
Earningskr421.62m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)26.94
Gross Margin100.00%
Net Profit Margin47.32%
Debt/Equity Ratio134.2%

How did RING perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

8%

Payout Ratio

Valuation

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

12.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RING (NOK306) is trading below our estimate of fair value (NOK353.15)

Significantly Below Fair Value: RING is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: RING's PE Ratio (11.4x) is in line with the Norwegian Banks industry average.

PE vs Market: RING is good value based on its PE Ratio (11.4x) compared to the Norwegian market (13.4x).


Price to Earnings Growth Ratio

PEG Ratio: RING's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: RING is overvalued based on its PB Ratio (1.2x) compared to the NO Banks industry average (0.6x).


Future Growth

How is SpareBank 1 Ringerike Hadeland forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-0.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RING's earnings are forecast to decline over the next 3 years (-0.7% per year).

Earnings vs Market: RING's earnings are forecast to decline over the next 3 years (-0.7% per year).

High Growth Earnings: RING's earnings are forecast to decline over the next 3 years.

Revenue vs Market: RING's revenue (3.5% per year) is forecast to grow slower than the Norwegian market (5.6% per year).

High Growth Revenue: RING's revenue (3.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RING's Return on Equity is forecast to be low in 3 years time (9.2%).


Past Performance

How has SpareBank 1 Ringerike Hadeland performed over the past 5 years?

5.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RING has high quality earnings.

Growing Profit Margin: RING's current net profit margins (47.3%) are higher than last year (41.6%).


Past Earnings Growth Analysis

Earnings Trend: RING's earnings have grown by 5.7% per year over the past 5 years.

Accelerating Growth: RING's earnings growth over the past year (32.2%) exceeds its 5-year average (5.7% per year).

Earnings vs Industry: RING earnings growth over the past year (32.2%) exceeded the Banks industry 26.4%.


Return on Equity

High ROE: RING's Return on Equity (10.5%) is considered low.


Financial Health

How is SpareBank 1 Ringerike Hadeland'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: RING's Assets to Equity ratio (6.7x) is low.

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

Low Risk Liabilities: 75% of RING's liabilities are made up of primarily low risk sources of funding.

Loan Level: RING has an appropriate level of Loans to Assets ratio (86%).

Low Risk Deposits: RING's Loans to Deposits ratio (135%) is high.

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


Dividend

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

3.70%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RING's dividend (3.73%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.84%).

High Dividend: RING's dividend (3.73%) is low compared to the top 25% of dividend payers in the Norwegian market (5.16%).


Stability and Growth of Payments

Stable Dividend: RING's dividends per share have been stable in the past 10 years.

Growing Dividend: RING's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (8.2%), RING's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RING's dividends in 3 years are forecast to be covered by earnings (57% payout ratio).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Steinar Haugli (64 yo)

12.83yrs

Tenure

kr3,544,000

Compensation

Mr. Steinar Haugli serves as Chief Executive Officer, Managing Director and Managing Bank Manager at SpareBank 1 Ringerike Hadeland (Former Name: SpareBank 1 Ringerike). Mr. Haugli serves as Member of Supe...


CEO Compensation Analysis

Compensation vs Market: Steinar's total compensation ($USD411.54K) is below average for companies of similar size in the Norwegian market ($USD630.00K).

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


Leadership Team

Experienced Management: RING's management team is seasoned and experienced (5.7 years average tenure).


Board Members

Experienced Board: RING's board of directors are considered experienced (4.5 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 Ringerike Hadeland's employee growth, exchange listings and data sources


Key Information


Number of Employees


Location

  • SpareBank 1 Ringerike Hadeland
  • Søndre Torv 6
  • Hønefoss
  • Buskerud
  • 3510
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/27 16:20
End of Day Share Price2021/09/27 00:00
Earnings2021/06/30
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.