Executive Summary
SpareBank 1 BV provides various banking products and services in Norway.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued established dividend payer.
Share Price & News
How has SpareBank 1 BV's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SBVG has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.3%
SBVG
0.6%
NO Banks
0.5%
NO Market
1 Year Return
8.5%
SBVG
5.8%
NO Banks
-0.5%
NO Market
Return vs Industry: SBVG exceeded the Norwegian Banks industry which returned 5.8% over the past year.
Return vs Market: SBVG exceeded the Norwegian Market which returned -0.5% over the past year.
Shareholder returns
| SBVG | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.3% | 0.6% | 0.5% |
| 30 Day | 1.9% | -5.0% | -0.8% |
| 90 Day | 4.6% | 4.9% | 3.4% |
| 1 Year | 17.3%8.5% | 11.0%5.8% | 4.9%-0.5% |
| 3 Year | 75.1%41.5% | 34.0%17.6% | 32.7%15.8% |
| 5 Year | 112.7%-21.4% | 91.3%51.4% | 74.0%33.6% |
Price Volatility Vs. Market
How volatile is SpareBank 1 BV's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Should You Take Comfort From Insider Transactions At SpareBank 1 BV (OB:SBVG)?1 month ago | Simply Wall St
Did SpareBank 1 BV's (OB:SBVG) Share Price Deserve to Gain 65%?2 months ago | Simply Wall St
Don't Sell SpareBank 1 BV (OB:SBVG) Before You Read ThisValuation
Is SpareBank 1 BV undervalued compared to its fair value and its price relative to the market?
44.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SBVG (NOK38.5) is trading below our estimate of fair value (NOK69.82)
Significantly Below Fair Value: SBVG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SBVG is poor value based on its PE Ratio (8.4x) compared to the Banks industry average (8.4x).
PE vs Market: SBVG is good value based on its PE Ratio (8.4x) compared to the Norwegian market (13.3x).
Price to Earnings Growth Ratio
PEG Ratio: SBVG is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: SBVG is good value based on its PB Ratio (0.5x) compared to the NO Banks industry average (0.5x).
Next Steps
Future Growth
How is SpareBank 1 BV forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
9.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SBVG's forecast earnings growth (9.7% per year) is above the savings rate (0.7%).
Earnings vs Market: SBVG's earnings (9.7% per year) are forecast to grow slower than the Norwegian market (21.1% per year).
High Growth Earnings: SBVG's earnings are forecast to grow, but not significantly.
Revenue vs Market: SBVG's revenue (6.5% per year) is forecast to grow faster than the Norwegian market (4.4% per year).
High Growth Revenue: SBVG's revenue (6.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SBVG's Return on Equity is forecast to be low in 3 years time (9.9%).
Next Steps
Past Performance
How has SpareBank 1 BV performed over the past 5 years?
42.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SBVG has high quality earnings.
Growing Profit Margin: SBVG's current net profit margins (24.1%) are lower than last year (29.2%).
Past Earnings Growth Analysis
Earnings Trend: SBVG's earnings have grown significantly by 42.3% per year over the past 5 years.
Accelerating Growth: SBVG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SBVG had negative earnings growth (-19.7%) over the past year, making it difficult to compare to the Banks industry average (13%).
Return on Equity
High ROE: SBVG's Return on Equity (10%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is SpareBank 1 BV'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
Inventory Level: SBVG has a low level of unsold assets or inventory.
Debt Coverage by Assets: SBVG's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: SBVG's level of assets compared to its equity is low.
Allowance for Bad Loans: SBVG has a low allowance for bad loans.
Low Risk Liabilities: SBVG's liabilities are made up of primarily low risk sources of funding.
Loan Level: SBVG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SBVG has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: SBVG has an appropriate level of bad loans (0.84%)
Next Steps
Dividend
What is SpareBank 1 BV's current dividend yield, its reliability and sustainability?
7.66%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: SBVG's dividend (7.66%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.52%).
High Dividend: SBVG's dividend (7.66%) is in the top 25% of dividend payers in the Norwegian market (5.93%)
Stability and Growth of Payments
Stable Dividend: SBVG's dividend payments have been volatile in the past 10 years.
Growing Dividend: SBVG's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (64.3%), SBVG's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SBVG's dividends in 3 years are forecast to be covered by earnings (63.4% payout ratio).
Next Steps
Management
What is the CEO of SpareBank 1 BV's salary, the management and board of directors tenure and is there insider trading?
2.9yrs
Average board tenure
CEO
Rune Fjeldstad (57yo)
4.6yrs
Tenure
kr6,447,000
Compensation
Mr. Rune Fjeldstad has been Managing Director of SpareBank 1 BV since May 1, 2015 and served as its Director since April 2014 until February 2015. He has a Master's degree in Economics and Master of Manage ...
CEO Compensation Analysis
Compensation vs Market: Rune's total compensation ($USD703.13K) is above average for companies of similar size in the Norwegian market ($USD422.84K).
Compensation vs Earnings: Rune's compensation has been consistent with company performance over the past year.
Board Age and Tenure
2.9yrs
Average Tenure
60yo
Average Age
Experienced Board: SBVG's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chairman of Corporate Board Chairman of the Board |
| Shares | 10,000 |
| Max Price | kr37.50 |
| Entity | Individual |
| Shares | 2,700 |
| Max Price | kr37.50 |
| Entity | Individual |
| Shares | 2,000 |
| Max Price | kr37.50 |
| Entity | Individual |
| Role | Vice Chairman Deputy Chair |
| Shares | 27,000 |
| Max Price | kr36.85 |
| Entity | Individual |
| Shares | 525 |
| Max Price | kr39.20 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Per Grøtterød
Bank Manager
- Tenure: 0yrs
- Compensation: kr1.00m
Ola Saltrøe
Executive Officer of Legal Affairs & Business Operations
- Tenure: 0yrs
- Compensation: kr1.08m
Geir Hansen (60yo)
Deputy CEO
- Tenure: 11.1yrs
- Compensation: kr1.96m
Marianne Evensen (49yo)
Director of Risk Management
- Tenure: 0yrs
- Compensation: kr1.53m
Tonje Stormoen (54yo)
Director of Business Support
- Tenure: 0yrs
- Compensation: kr1.25m
Rune Fjeldstad (57yo)
Managing Director
- Tenure: 4.6yrs
- Compensation: kr6.45m
Live Stensholt
Head of Communication
- Tenure: 0yrs
- Compensation: kr709.00k
Lasse Olsen (44yo)
Director of Person Market
- Tenure: 0yrs
- Compensation: kr1.80m
Johan Hjerkinn (49yo)
Director of Business & Organizational Development
- Tenure: 0yrs
- Compensation: kr1.61m
Ørjan Larsen
Chief Financial Officer
- Tenure: 0yrs
Board Members
Finn Haugan (66yo)
Chairman of the Board
- Tenure: 0yrs
Kristin Barkost (65yo)
Director
- Tenure: 0yrs
- Compensation: kr165.00k
Bjørn Hellevammen (71yo)
Member of Supervisory Board
- Tenure: 0yrs
Hanne Gravdal (55yo)
Employee Representative Director
- Tenure: 11.1yrs
- Compensation: kr132.00k
Lars Bjørnsrud
Chairman of the Supervisory Board
- Tenure: 0.7yrs
- Compensation: kr57.00k
Tom Mello
Deputy Chairman of the Supervisory Board
- Tenure: 0.7yrs
Janne Weseth (40yo)
Director
- Tenure: 3.6yrs
- Compensation: kr160.00k
Eric Sandtrø (47yo)
Director
- Tenure: 2.9yrs
- Compensation: kr22.00k
Øyvind Birkeland (64yo)
Chairman of the Board
- Tenure: 0yrs
- Compensation: kr321.00k
Heine Wang (56yo)
Deputy Chair
- Tenure: 0yrs
Company Information
SpareBank 1 BV's company bio, employee growth, exchange listings and data sources
Key Information
- Name: SpareBank 1 BV
- Ticker: SBVG
- Exchange: OB
- Founded: 1859
- Industry: Regional Banks
- Sector: Banks
- Market Cap: kr2.410b
- Shares outstanding: 63.10m
- Website: https://www.sparebank1.no/nb/bv
Number of Employees
Location
- SpareBank 1 BV
- Anton Jenssens gate 2
- Tønsberg
- Vestfold
- 3125
- Norway
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SBVG | OB (Oslo Bors) | Yes | Primary Capital Certificates | NO | NOK | May 1994 |
| 0NY7 | LSE (London Stock Exchange) | Yes | Primary Capital Certificates | GB | NOK | May 1994 |
Biography
SpareBank 1 BV provides various banking products and services in Norway. The company offers share and housing savings accounts; mortgages and loans; car, auto, and housing insurance products; and mobile an ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/06 20:38 |
| End of Day Share Price | 2019/12/06 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.