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Sandnesrebank

OB:SADG
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SADG
OB
NOK1B
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

Sandnes Sparebank, an independent savings bank, provides a range of banking and investment products to retail and corporate customers in Norway. The last earnings update was 63 days ago. More info.


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SADG Share Price and Events
7 Day Returns
1.6%
OB:SADG
-2.3%
NO Banks
-2.5%
NO Market
1 Year Returns
28%
OB:SADG
-2.1%
NO Banks
-8.4%
NO Market
SADG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sandnesrebank (SADG) 1.6% 0% 3.2% 28% 158.1% -30.4%
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
  • SADG outperformed the Banks industry which returned -2.1% over the past year.
  • SADG outperformed the Market in Norway which returned -8.4% over the past year.
Price Volatility
SADG
Industry
5yr Volatility vs Market

Value

 Is Sandnesrebank undervalued based on future cash flows and its price relative to the stock market?

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 Sandnesrebank 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sandnesrebank.

OB:SADG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NOK81.15 * 7.4%
NOK5.98
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. NOK81.15
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.

Calculation of Discount Rate/ Cost of Equity for OB:SADG
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%) (885.74%))
3.456
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:SADG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Sandnesrebank 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.

OB:SADG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.4% – 13.68%) * NOK81.15)
NOK-5.12
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-5.12 / (13.68% - 1.76%)
NOK-42.97
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK81.15 + NOK-42.97
NOK38.18
OB:SADG Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK38.18
Current discount Discount to share price of NOK64.00
= -1 x (NOK64.00 - NOK38.18) / NOK38.18
-67.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Sandnesrebank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Sandnesrebank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sandnesrebank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:SADG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in NOK NOK7.46
OB:SADG Share Price ** OB (2019-07-23) in NOK NOK64
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 Sandnesrebank.

OB:SADG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:SADG Share Price ÷ EPS (both in NOK)

= 64 ÷ 7.46

8.58x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandnesrebank is overvalued based on earnings compared to the NO Banks industry average.
  • Sandnesrebank is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does Sandnesrebank's expected growth come at a high price?
Raw Data
OB:SADG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
5.3%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 .

OB:SADG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.58x ÷ 5.3%

1.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandnesrebank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Sandnesrebank's assets?
Raw Data
OB:SADG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in NOK NOK124.32
OB:SADG Share Price * OB (2019-07-23) in NOK NOK64
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
OB:SADG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:SADG Share Price ÷ Book Value per Share (both in NOK)

= 64 ÷ 124.32

0.51x

* Primary Listing of Sandnesrebank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandnesrebank is overvalued based on assets compared to the NO Banks industry average.
X
Value checks
We assess Sandnesrebank's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Sandnesrebank has a total score of 1/6, 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.

Future Performance

 How is Sandnesrebank expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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!
Annual Growth Rate
5.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sandnesrebank expected to grow at an attractive rate?
  • Sandnesrebank's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Sandnesrebank's earnings growth is positive but not above the Norway market average.
  • Sandnesrebank's revenue growth is positive but not above the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:SADG Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:SADG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 5.3%
OB:SADG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.7%
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
Raw Data
OB:SADG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:SADG Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 615 236 2
2020-12-31 589 222 2
2019-12-31 576 246 2
OB:SADG Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-03-31 574 496 170
2018-12-31 561 491 159
2018-09-30 541 556 144
2018-06-30 547 464 147
2018-03-31 512 511 125
2017-12-31 525 611 128
2017-09-30 525 729 120
2017-06-30 535 785 127
2017-03-31 570 735 144
2016-12-31 504 714 111
2016-09-30 333 611 62
2016-06-30 260 704 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sandnesrebank's earnings are expected to grow by 5.3% yearly, however this is not considered high growth (20% yearly).
  • Sandnesrebank's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:SADG 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 2 Analyst Estimates (S&P Global) See Below

All data from Sandnesrebank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:SADG Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 6.70 6.73 6.67 2.00
2020-12-31 6.29 6.39 6.20 2.00
2019-12-31 6.98 7.08 6.88 2.00
OB:SADG Past Financials Data
Date (Data in NOK Millions) EPS *
2019-03-31 7.46
2018-12-31 6.93
2018-09-30 6.29
2018-06-30 6.39
2018-03-31 5.38
2017-12-31 5.59
2017-09-30 5.25
2017-06-30 5.55
2017-03-31 5.31
2016-12-31 4.85
2016-09-30 3.23
2016-06-30 1.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Sandnesrebank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sandnesrebank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sandnesrebank has a total score of 1/6, 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.

Past Performance

  How has Sandnesrebank 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
Below we compare Sandnesrebank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sandnesrebank has delivered over 20% year on year earnings growth in the past 5 years.
  • Sandnesrebank's 1-year earnings growth exceeds its 5-year average (36.5% vs 21.2%)
  • Sandnesrebank's earnings growth has exceeded the NO Banks industry average in the past year (36.5% vs 14.7%).
Earnings and Revenue History
Sandnesrebank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sandnesrebank Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:SADG Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 574.49 170.12 181.43
2018-12-31 560.80 159.47 177.39
2018-09-30 541.14 144.39 187.96
2018-06-30 547.02 146.71 187.56
2018-03-31 512.46 124.59 188.97
2017-12-31 524.59 128.49 192.37
2017-09-30 524.58 120.17 188.62
2017-06-30 535.46 127.03 193.39
2017-03-31 569.97 144.09 194.13
2016-12-31 504.40 111.29 194.26
2016-09-30 333.20 61.54 216.44
2016-06-30 260.20 18.71 214.90
2016-03-31 209.07 -35.45 224.63
2015-12-31 268.09 -15.96 222.68
2015-09-30 424.52 18.25 188.93
2015-06-30 491.19 46.85 187.32
2015-03-31 503.71 72.82 187.92
2014-12-31 520.96 73.71 193.07
2014-09-30 548.60 110.51 200.41
2014-06-30 553.94 107.81 205.14
2014-03-31 544.17 99.80 194.62
2013-12-31 520.62 96.57 192.85
2013-09-30 553.70 97.38 195.22
2013-06-30 529.40 90.27 196.10
2013-03-31 512.26 84.10 195.25
2012-12-31 518.88 84.96 198.34
2012-09-30 497.96 56.04 192.34

*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.
  • Sandnesrebank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sandnesrebank used its assets less efficiently than the NO Banks industry average last year based on Return on Assets.
  • Unable to establish if Sandnesrebank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Sandnesrebank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sandnesrebank has a total score of 3/6, 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.

Health

 How is Sandnesrebank's financial position? (This company is analysed differently as a bank or financial institution)

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.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Sandnesrebank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
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.
Raw Data

All data from Sandnesrebank Company Filings, last reported 3 months ago.

OB:SADG Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,862.73 12,828.48 4,722.61
2018-12-31 2,961.00 12,833.57 4,925.82
2018-09-30 2,907.22 12,744.28 4,853.69
2018-06-30 2,765.92 12,325.93 4,785.08
2018-03-31 2,673.71 12,243.32 4,499.63
2017-12-31 2,708.75 12,366.08 4,259.66
2017-09-30 2,709.36 12,364.67 4,472.53
2017-06-30 2,664.76 12,320.62 4,450.55
2017-03-31 2,631.61 12,498.19 4,641.41
2016-12-31 2,583.24 12,779.47 4,503.81
2016-09-30 2,542.88 13,223.93 807.09
2016-06-30 2,148.41 13,258.33 1,452.57
2016-03-31 2,077.39 13,757.07 4,194.28
2015-12-31 2,081.83 13,606.22 1,447.25
2015-09-30 2,165.79 13,108.88 2,270.48
2015-06-30 2,173.29 12,796.54 1,458.96
2015-03-31 2,193.14 13,060.12 1,356.68
2014-12-31 2,146.07 12,141.97 1,623.83
2014-09-30 2,143.11 11,796.60 1,588.47
2014-06-30 2,100.68 11,282.09 1,870.26
2014-03-31 2,074.20 11,225.06 1,424.15
2013-12-31 2,045.76 11,803.21 1,322.46
2013-09-30 2,005.38 12,266.15 1,731.51
2013-06-30 1,964.51 12,242.85 2,021.80
2013-03-31 1,948.49 12,364.15 1,359.49
2012-12-31 1,922.41 12,646.04 1,672.64
2012-09-30 1,847.69 13,085.43 1,919.44
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Sandnesrebank has an acceptable proportion of non-loan assets held.
  • Sandnesrebank's liabilities are made up of primarily higher risk sources of funding.
  • Sandnesrebank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Sandnesrebank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Sandnesrebank has a sufficient allowance for bad loans.
  • Sandnesrebank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Sandnesrebank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sandnesrebank has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

Dividends

 What is Sandnesrebank'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
Dividend payments
8.13%
Current annual income from Sandnesrebank dividends. Estimated to be 6.76% next year.
If you bought NOK2,000 of Sandnesrebank shares you are expected to receive NOK163 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sandnesrebank's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.5%).
  • Sandnesrebank's dividend is above 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.
Raw Data
OB:SADG Annualized Past and Future Dividends
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 2 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.

OB:SADG Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 4.48 2.00
2020-12-31 4.25 2.00
2019-12-31 4.25 2.00
OB:SADG Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-14 5.200 8.160
2018-03-13 2.800 5.234
2017-03-27 1.250 2.554
2016-11-04 0.000 0.000
2016-08-11 0.000 0.000
2016-04-21 0.000 0.000
2016-02-26 0.000 0.000
2015-03-27 3.000 3.611
2015-02-11 3.000 2.967
2014-03-28 3.000 3.163
2014-02-13 3.000 3.214
2013-04-30 3.000 3.714
2013-02-21 3.000 3.660
2012-03-30 2.500 3.958
2012-02-15 2.500 3.541
2009-10-30 0.000 0.000
2009-08-13 0.000 0.000
2009-05-07 0.000 0.000
2009-04-17 0.000 0.000
2009-02-17 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sandnesrebank has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Sandnesrebank only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Sandnesrebank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Sandnesrebank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sandnesrebank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sandnesrebank has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Sandnesrebank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Trine Karin Stangeland
COMPENSATION NOK0
AGE 46
TENURE AS CEO 2.3 years
CEO Bio

Ms. Trine Karin Lise Stangeland serves as Managing Director of Sandnes Sparebank. She is currently the CEO of Lyse Dialog AS. Ms. Stangeland serve as Deputy Chairman of the Board at Eika Gruppen AS. She has a bachelor degree in economics and a master in strategic management from BI Norwegian Business School. In addition to various management roles in the Lyse Group since 2005, she also has several years of economic and financial management experience from industrial concerns.

CEO Compensation
  • Trine Karin's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Trine Karin's remuneration is lower than average for companies of similar size in Norway.
Management Team

Trine Karin Stangeland

TITLE
MD & CEO
AGE
46
TENURE
2.3 yrs

Tomas Middelthon

TITLE
CFO & Co-Director
AGE
42
TENURE
2.3 yrs

Ingrid Fure Schøpp

TITLE
Director of Communications

Owe Høines

TITLE
Chief Risk Officer and Director of Risk Management
COMPENSATION
NOK1M
Board of Directors Tenure

Average tenure and age of the Sandnesrebank board of directors in years:

4.3
Average Tenure
47
Average Age
  • The tenure for the Sandnesrebank board of directors is about average.
Board of Directors

Harald Espedal

TITLE
Chairman of the Board
COMPENSATION
NOK270K
AGE
47
TENURE
4.3 yrs

Frode Svaboe

TITLE
Deputy Chairman of the Board
COMPENSATION
NOK265K
TENURE
4.3 yrs

Dag Halvorsen

TITLE

Ørjan Gjerde

TITLE
Chairman of the Board of Trustees

Kari Larsen

TITLE
Deputy Chairman of the Board of Trustees

Solveig Vatne

TITLE
Employee Representative Director
COMPENSATION
NOK135K
TENURE
2.5 yrs

Jan Aarreberg

TITLE
Employee Representative Director
COMPENSATION
NOK135K
TENURE
4.3 yrs

Heidi Flikka

TITLE
Director
COMPENSATION
NOK185K
TENURE
3.2 yrs

Birte Norheim

TITLE
Director
COMPENSATION
NOK135K
AGE
46
TENURE
11.5 yrs

Sven Ulvatne

TITLE
Director
AGE
59
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Sandnesrebank individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
21. May 19 Buy Sven Ulvatne Individual 21. May 19 21. May 19 9,300 NOK64.85 NOK603,105
22. Feb 19 Buy Frode Svaboe Individual 22. Feb 19 22. Feb 19 2,500 NOK65.00 NOK162,500
18. Feb 19 Buy Salt Value AS Company 18. Feb 19 18. Feb 19 40,000 NOK64.00 NOK2,560,000
20. Nov 18 Buy Tomas Middelthon Individual 20. Nov 18 20. Nov 18 3,000 NOK54.50 NOK163,500
07. Nov 18 Buy Salt Value AS Company 07. Nov 18 07. Nov 18 40,000 NOK56.00 NOK2,240,000
02. Nov 18 Buy Trine Karin Stangeland Individual 02. Nov 18 02. Nov 18 1,000 NOK56.50 NOK56,500
01. Nov 18 Buy Frode Svaboe Individual 01. Nov 18 01. Nov 18 2,700 NOK55.94 NOK151,038
31. Oct 18 Buy Tomas Middelthon Individual 31. Oct 18 31. Oct 18 2,953 NOK54.00 NOK159,462
30. Oct 18 Buy Christian Ravnås Individual 30. Oct 18 30. Oct 18 275 NOK54.68 NOK15,037
30. Oct 18 Buy Gerd-Lovise Søndervik Pedersen Individual 30. Oct 18 30. Oct 18 28 NOK54.68 NOK1,531
30. Oct 18 Buy Heidi Tørring Individual 30. Oct 18 30. Oct 18 165 NOK54.68 NOK9,022
30. Oct 18 Buy Carl Hjelle Individual 30. Oct 18 30. Oct 18 343 NOK54.68 NOK18,755
30. Oct 18 Buy Lene Nordahl Individual 30. Oct 18 30. Oct 18 110 NOK54.68 NOK6,015
30. Oct 18 Buy Erik Hansen Individual 30. Oct 18 30. Oct 18 220 NOK54.68 NOK12,030
30. Oct 18 Buy Trine Karin Stangeland Individual 30. Oct 18 30. Oct 18 823 NOK54.68 NOK45,002
30. Oct 18 Buy Arne Norheim Individual 30. Oct 18 30. Oct 18 309 NOK54.68 NOK16,896
30. Oct 18 Buy Magnar Oanes Individual 30. Oct 18 30. Oct 18 343 NOK54.68 NOK18,755
30. Oct 18 Buy Per Mauritzen Individual 30. Oct 18 30. Oct 18 55 NOK54.68 NOK3,007
30. Oct 18 Buy Tomas Middelthon Individual 30. Oct 18 30. Oct 18 549 NOK54.68 NOK30,019
30. Oct 18 Buy Jan Aarreberg Individual 30. Oct 18 30. Oct 18 275 NOK54.68 NOK15,037
30. Oct 18 Buy Heidi Flikka Individual 30. Oct 18 30. Oct 18 309 NOK54.68 NOK16,896
30. Oct 18 Buy Birte Norheim Individual 30. Oct 18 30. Oct 18 309 NOK54.68 NOK16,896
30. Oct 18 Buy Marianne Aareskjold Koi Individual 30. Oct 18 30. Oct 18 330 NOK54.68 NOK18,044
30. Oct 18 Buy Ingrid Fure Schøpp Individual 30. Oct 18 30. Oct 18 165 NOK54.68 NOK9,022
30. Oct 18 Buy Solveig Vatne Individual 30. Oct 18 30. Oct 18 275 NOK54.68 NOK15,037
X
Management checks
We assess Sandnesrebank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sandnesrebank 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.

News

Simply Wall St News

Announcing: Sandnesrebank (OB:SADG) Stock Increased An Energizing 161% In The Last Three Years

It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. … So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. … Sandnesrebank is not the only stock that insiders are buying.

Simply Wall St -

Sandnes Sparebank (OB:SADG) Insiders Increased Their Holdings

Insiders at Sandnesrebank Have Bought Stock Recently There was some insider buying at Sandnesrebank over the last quarter. … Insider Ownership of Sandnesrebank Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. … Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Sandnesrebank.

Simply Wall St -

Sandnes Sparebank (OB:SADG): What Are The Future Prospects?

Help shape the future of investing tools and you could win a $250 gift card! … After Sandnes Sparebank's (OB:SADG) earnings announcement in December 2018, … with earnings expected to grow by 43% in the upcoming year

Simply Wall St -

Is Now The Time To Put Sandnesrebank (OB:SADG) On Your Watchlist?

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling short, can easily find investors. … Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. … While we note Sandnesrebank's EBIT margins were flat over the last year, revenue grew by a solid 6.9% to øre561m.

Simply Wall St -

Sandnes Sparebank (OB:SADG): Will The Growth Last?

In December 2018, Sandnes Sparebank (OB:SADG) released its most recent earnings announcement, whicha … indicated

Simply Wall St -

Three Key Risks For Sandnes Sparebank (OB:SADG) You Should Know

As a small-cap bank with a market capitalisation of øre1.4b, Sandnes Sparebank’s (OB:SADG) 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 Sandnesrebank’s bottom line. … OB:SADG Historical Debt, April 2nd 2019

Simply Wall St -

Does Sandnes Sparebank (OB:SADG) Have A Place In Your Portfolio?

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Does Sandnesrebank tick all the boxes of a great dividend stock? … 5 checks you should do on a dividend stock

Simply Wall St -

What Kind Of Shareholder Owns Most Sandnes Sparebank (OB:SADG) Stock?

So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … Taking a look at our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about SADG

Simply Wall St -

Did Sandnes Sparebank (OB:SADG) Insiders Buy Up More Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. … Over the last year, we can see that the biggest insider sale was by Ole Olsnes for øre435k worth of shares, at about øre51.00 per share.

Simply Wall St -

What You Should Know About Sandnes Sparebank’s (OB:SADG) Liquidity

As a small-cap bank stock with a market capitalisation of øre1.3b, Sandnes Sparebank’s (OB:SADG) risk and profitability are largely determined by the underlying economic growth of the NO regions in which it operates. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels. … Today we will be measuring Sandnesrebank’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Company Info

Description

Sandnes Sparebank, an independent savings bank, provides a range of banking and investment products to retail and corporate customers in Norway. The company operates through three segments: Retail Market, Corporate Market, and Real Estate Agency. It offers fixed rate deposits, deposit accounts, BSU, escrow accounts for tax withholding, and other accounts; various loans and guarantees; and mobile and Internet banking services. It also provides real estate brokerage and general investment advisory services. Sandnes Sparebank was founded in 1875 and is headquartered in Sandnes, Norway.

Details
Name: Sandnes Sparebank
SADG
Exchange: OB
Founded: 1875
NOK1,460,304,737
22,996,925
Website: http://www.sandnes-sparebank.no
Address: Sandnes Sparebank
Rådhusgata 3,
Sandnes,
Rogaland, 4306,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SADG Equity Capital Certificates Oslo Bors NO NOK 30. Oct 1995
Number of employees
Current staff
Staff numbers
136
Sandnesrebank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/23 23:34
End of day share price update: 2019/07/23 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/21
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.