Executive Summary
SpareBank 1 Telemark provides banking products and services to private and business customers in Norway. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with moderate growth potential.
Share Price & News
How has SpareBank 1 Telemark's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SBTE is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: SBTE's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
0.6%
SBTE
1.1%
NO Banks
-0.7%
NO Market
1 Year Return
37.8%
SBTE
53.0%
NO Banks
34.5%
NO Market
Return vs Industry: SBTE underperformed the Norwegian Banks industry which returned 58.2% over the past year.
Return vs Market: SBTE underperformed the Norwegian Market which returned 36.1% over the past year.
Shareholder returns
| SBTE | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.6% | 1.1% | -0.7% |
| 30 Day | 2.5% | -0.8% | -2.5% |
| 90 Day | 12.3% | 11.3% | 2.7% |
| 1 Year | 42.8%37.8% | 59.9%53.0% | 39.4%34.5% |
| 3 Year | n/a | 34.5%21.6% | 11.6%-0.5% |
| 5 Year | n/a | 121.5%84.5% | 75.4%43.4% |
Long-Term Price Volatility Vs. Market
How volatile is SpareBank 1 Telemark's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 months ago | Simply Wall St
Is SpareBank 1 Telemark (OB:SBTE) A Smart Choice For Dividend Investors?7 months ago | Simply Wall St
SpareBank 1 Telemark (OB:SBTE) Insiders Increased Their Holdings8 months ago | Simply Wall St
What You Need To Know About SpareBank 1 Telemark's (OB:SBTE) Investor CompositionValuation
Is SpareBank 1 Telemark undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SBTE (NOK164) is trading below our estimate of fair value (NOK422.84)
Significantly Below Fair Value: SBTE is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SBTE's PE Ratio (11.2x) is in line with the Norwegian Banks industry average.
PE vs Market: SBTE is good value based on its PE Ratio (11.2x) compared to the Norwegian market (14.8x).
Price to Earnings Growth Ratio
PEG Ratio: SBTE is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: SBTE's PB Ratio (0.5x) is in line with the NO Banks industry average.
Future Growth
How is SpareBank 1 Telemark forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
22.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SBTE's forecast earnings growth (22.9% per year) is above the savings rate (1.2%).
Earnings vs Market: SBTE's earnings (22.9% per year) are forecast to grow faster than the Norwegian market (17.2% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SBTE's revenue (3.7% per year) is forecast to grow slower than the Norwegian market (4.5% per year).
High Growth Revenue: SBTE's revenue (3.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SBTE's Return on Equity is forecast to be low in 3 years time (9%).
Past Performance
How has SpareBank 1 Telemark performed over the past 5 years?
2.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SBTE has a high level of non-cash earnings.
Growing Profit Margin: SBTE's current net profit margins (21%) are lower than last year (21.9%).
Past Earnings Growth Analysis
Earnings Trend: SBTE's earnings have grown by 2.4% per year over the past 5 years.
Accelerating Growth: SBTE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SBTE had negative earnings growth (-3.3%) over the past year, making it difficult to compare to the Banks industry average (19.2%).
Return on Equity
High ROE: SBTE's Return on Equity (8.9%) is considered low.
Financial Health
How is SpareBank 1 Telemark'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: SBTE's Assets to Equity ratio (7.9x) is low.
Allowance for Bad Loans: Insufficient data to determine if SBTE has a sufficient allowance for bad loans.
Low Risk Liabilities: 68% of SBTE's liabilities are made up of primarily low risk sources of funding.
Loan Level: SBTE has an appropriate level of Loans to Assets ratio (90%).
Low Risk Deposits: SBTE's Loans to Deposits ratio (151%) is high.
Level of Bad Loans: Insufficient data to determine if SBTE has an appropriate level of bad loans.
Dividend
What is SpareBank 1 Telemark current dividend yield, its reliability and sustainability?
3.35%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SBTE's dividend (3.35%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.9%).
High Dividend: SBTE's dividend (3.35%) is low compared to the top 25% of dividend payers in the Norwegian market (5.04%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SBTE has been paying a dividend for less than 10 years.
Growing Dividend: SBTE has only been paying a dividend for 2 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (37.6%), SBTE's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SBTE's dividends in 3 years are forecast to be well covered by earnings (49.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.3yrs
Average management tenure
CEO
Per Halvorsen (58 yo)
15.33yrs
Tenure
kr4,024,000
Compensation
Mr. Per Halvorsen serves as Chief Executive Officer of SpareBank 1 Telemark since 2006. Mr. Halvorsen served as Chairman of SpareBank 1 Gruppen AS since April 2014 and served as its Director until April 8,...
CEO Compensation Analysis
Compensation vs Market: Per's total compensation ($USD488.29K) is about average for companies of similar size in the Norwegian market ($USD492.11K).
Compensation vs Earnings: Per's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: SBTE's management team is seasoned and experienced (9.3 years average tenure).
Board Members
Experienced Board: SBTE's board of directors are considered experienced (3.8 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 Telemark's company bio, employee growth, exchange listings and data sources
Key Information
- Name: SpareBank 1 Telemark
- Ticker: SBTE
- Exchange: OB
- Founded: 1844
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: kr1.787b
- Shares outstanding: 10.90m
- Website: https://www.sparebank1.no/nb/telemark/privat.html
Number of Employees
Location
- SpareBank 1 Telemark
- Storgata 117
- Porsgrunn
- Telemark
- 3921
- Norway
Listings
Biography
SpareBank 1 Telemark provides banking products and services to private and business customers in Norway. It offers deposit and saving accounts; and consumer, car and construction loans, repayment and build...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/05/18 02:31 |
| End of Day Share Price | 2021/05/14 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.