OB:RING

Stock Analysis Report

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SpareBank 1 Ringerike Hadeland

Executive Summary

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


Snowflake Analysis

Average dividend payer and fair value.

Share Price & News

How has SpareBank 1 Ringerike Hadeland's share price performed over time and what events caused price changes?


Latest Share Price and Events

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.


Market Performance


7 Day Return

-0.8%

RING

-1.8%

NO Banks

0.1%

NO Market


1 Year Return

7.3%

RING

1.5%

NO Banks

-0.7%

NO Market

Return vs Industry: RING exceeded the Norwegian Banks industry which returned 1.5% over the past year.

Return vs Market: RING exceeded the Norwegian Market which returned -0.7% over the past year.


Shareholder returns

RINGIndustryMarket
7 Day-0.8%-1.8%0.1%
30 Day2.6%18.2%12.7%
90 Day1.7%14.0%8.8%
1 Year15.0%7.3%2.6%1.5%2.9%-0.7%
3 Year47.3%23.8%18.1%6.7%10.3%-2.1%
5 Year78.7%35.3%85.2%53.2%57.9%26.7%

Long-Term Price Volatility Vs. Market

How volatile is SpareBank 1 Ringerike Hadeland's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

17.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RING (NOK234) is trading below our estimate of fair value (NOK283.08)

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


Price To Earnings Ratio

PE vs Industry: RING is good value based on its PE Ratio (5.7x) compared to the NO Banks industry average (9.6x).

PE vs Market: RING is good value based on its PE Ratio (5.7x) compared to the Norwegian market (15.4x).


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 (1x) compared to the NO Banks industry average (0.5x).


Next Steps

Future Growth

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

-24.1%

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 (-24.1% per year).

Earnings vs Market: RING's earnings are forecast to decline over the next 3 years (-24.1% per year).

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

Revenue vs Market: RING's revenue (5.3% per year) is forecast to grow slower than the Norwegian market (6.4% per year).

High Growth Revenue: RING's revenue (5.3% 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 (9.5%).


Next Steps

Past Performance

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

14.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RING has high quality earnings.

Growing Profit Margin: RING became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: RING's earnings have grown by 14.2% per year over the past 5 years.

Accelerating Growth: RING has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: RING has become profitable in the last year, making it difficult to compare its past year earnings growth to the Banks industry (-8.2%).


Return on Equity

High ROE: RING's Return on Equity (8.7%) is considered low.


Next Steps

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 (7.1x) is low.

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

Low Risk Liabilities: 72% 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 (84%).

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.


Next Steps

Dividend

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

5.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: RING's dividend (5.68%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.31%).

High Dividend: RING's dividend (5.68%) is low compared to the top 25% of dividend payers in the Norwegian market (5.88%).


Stability and Growth of Payments

Stable Dividend: RING's dividend payments have been volatile 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 reasonably low payout ratio (32.2%), RING's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: RING's dividends in 3 years are forecast to be covered by earnings (52.5% payout ratio).


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

Steinar Haugli (63 yo)

12.08yrs

Tenure

kr3,751,000

Compensation

Mr. Steinar Haugli serves as Managing Director and Managing Bank Manager at SpareBank 1 Ringerike Hadeland. Mr. Haugli serves as Member of Supervisory Board at SpareBank 1 SR-Bank (formerly, Sparebanken Ro...


CEO Compensation Analysis

Compensation vs Market: Steinar's total compensation ($USD424.81K) is about average for companies of similar size in the Norwegian market ($USD585.04K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Steinar Haugli
MD & ADM Bank Manager12.08yrskr3.75m0.055%
NOK 2.0m
Andrea Søfting
Bank Manager of Finance & Economics5.92yrskr1.29mno data
Jørgen Ruud
Bank Manager of Risk Management & Compliance3.92yrskr1.15mno data
Bjørn Blaker
Bank Manager Market & Communications1.33yrskr464.00kno data
Marthe Westlie
Bank Manager HR & Business Support1.33yrskr449.00kno data
Bjørn Rindal
Bank Manager of Corporate Marketno datakr1.53m0.0054%
NOK 196.3k
Torbjørn Kjerstadmo
Bank Manager of Personal Market1.33yrskr429.00kno data
Kristin Ruud
Bank Manager of Information & Public Affairsno datakr1.03m0.021%
NOK 783.3k
Sten Lunder
Bank Manager of Business Developmentno datakr1.22mno data
Else Hellum
Bank Manager of Personal Marketno datakr1.48mno data
Marit Tronrud
Bank Manager of Customer Serviceno datakr901.23kno data

2.6yrs

Average Tenure

44.5yo

Average Age

Experienced Management: RING's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Olav Fjell
Chairman of the Board1.75yrskr300.00kno data
Wenche Ravlo
Deputy Chairmanno datakr236.00kno data
Svein Oftedal
Director7.75yrskr193.00kno data
Jane Gravbråten
Director2.92yrskr212.00k0.79%
NOK 28.9m
Liv Kildal
Employee Representative Director8.75yrskr193.00kno data
Gunnar Bergan
Director4.5yrskr193.00kno data
Helge Hagelsteen Vik
Member of Supervisory Boardno datakr38.00kno data
Bjørg Westhagen
Member of Supervisory Boardno datano datano data
Lise Gravermoen
Member of Supervisory Boardno datakr2.00kno data
Kari-Anne Jonnes
Chairman of Supervisory Boardno datano datano data
Hans Stubberud
Director2.75yrskr294.00k0.0016%
NOK 59.7k
Steinar Aasnæss
Deputy Chairman of Supervisory Boardno datano datano data

3.7yrs

Average Tenure

57yo

Average Age

Experienced Board: RING's board of directors are considered experienced (3.7 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 company bio, 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RINGOB (Oslo Bors)YesPrimary Capital CertificatesNONOKJun 1996
0N01LSE (London Stock Exchange)YesPrimary Capital CertificatesGBNOKJun 1996
RINGOBATS-CHIXE (BATS 'Chi-X Europe')YesPrimary Capital CertificatesGBNOKJun 1996

Biography

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 trav...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 17:21
End of Day Share Price2020/12/02 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.