OB:SBVG

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SpareBank 1 BV

Executive Summary

SpareBank 1 BV provides various banking products and services for private and corporate customers in Norway. More Details


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

-1.1%

SBVG

3.0%

NO Banks

-0.05%

NO Market


1 Year Return

-2.2%

SBVG

-11.4%

NO Banks

-6.4%

NO Market

Return vs Industry: SBVG exceeded the Norwegian Banks industry which returned -12.3% over the past year.

Return vs Market: SBVG exceeded the Norwegian Market which returned -6.3% over the past year.


Shareholder returns

SBVGIndustryMarket
7 Day-1.1%3.0%-0.05%
30 Day-1.1%2.9%-0.05%
90 Day-1.1%-1.9%2.4%
1 Year5.1%-2.2%-10.6%-11.4%-3.2%-6.4%
3 Year32.0%6.2%-1.1%-10.5%2.9%-8.7%
5 Year99.8%-26.3%62.9%32.5%43.9%14.5%

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

Valuation

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

37.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SBVG (NOK36.1) is trading below our estimate of fair value (NOK57.77)

Significantly Below Fair Value: SBVG is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SBVG is good value based on its PE Ratio (8.9x) compared to the NO Banks industry average (9.6x).

PE vs Market: SBVG is good value based on its PE Ratio (8.9x) compared to the Norwegian market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: SBVG is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: SBVG's PB Ratio (0.4x) is in line with the NO Banks industry average.


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?

13.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBVG's forecast earnings growth (13.4% per year) is above the savings rate (1.6%).

Earnings vs Market: SBVG's earnings (13.4% per year) are forecast to grow slower than the Norwegian market (33.1% per year).

High Growth Earnings: SBVG's earnings are forecast to grow, but not significantly.

Revenue vs Market: SBVG's revenue (3.2% per year) is forecast to grow slower than the Norwegian market (5.5% per year).

High Growth Revenue: SBVG's revenue (3.2% 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 (7.6%).


Next Steps

Past Performance

How has SpareBank 1 BV performed over the past 5 years?

38.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBVG has high quality earnings.

Growing Profit Margin: SBVG's current net profit margins (19.7%) are lower than last year (24.9%).


Past Earnings Growth Analysis

Earnings Trend: SBVG has become profitable over the past 5 years, growing earnings by 38.2% per year.

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 (-22.2%) over the past year, making it difficult to compare to the Banks industry average (-5.2%).


Return on Equity

High ROE: SBVG's Return on Equity (8.8%) is considered low.


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


Financial Institutions Analysis

Asset Level: SBVG's Assets to Equity ratio (7.5x) is low.

Allowance for Bad Loans: SBVG has a low allowance for bad loans (61%).

Low Risk Liabilities: 74% of SBVG's liabilities are made up of primarily low risk sources of funding.

Loan Level: SBVG has an appropriate level of Loans to Assets ratio (82%).

Low Risk Deposits: SBVG's Loans to Deposits ratio (129%) is high.

Level of Bad Loans: SBVG has an appropriate level of bad loans (0.9%).


Next Steps

Dividend

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

8.17%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SBVG's dividend (8.17%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.48%).

High Dividend: SBVG's dividend (8.17%) is in the top 25% of dividend payers in the Norwegian market (6.61%)


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 (72.9%), 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 (57.1% payout ratio).


Next Steps

Management

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

1.5yrs

Average board tenure


CEO

Rune Fjeldstad (58 yo)

5.42yrs

Tenure

kr6,983,000

Compensation

Mr. Rune Fjeldstad has been Chief Executive Officer 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 ...


CEO Compensation Analysis

Compensation vs Market: Rune's total compensation ($USD750.49K) is above average for companies of similar size in the Norwegian market ($USD435.35K).

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


Board Members

NamePositionTenureCompensationOwnership
Finn Haugan
Chairman of the Board1.33yrskr187.00k0.048%
NOK 1.0m
Bjørn Hoffstad
Member of the Supervisory Boardno datano datano data
Thor Strand
Member of Supervisory Board11.92yrsno datano data
Torben Hedegart
Member of Supervisory Boardno datano datano data
Bjørn Hellevammen
Member of Supervisory Boardno datano datano data
Geir Vestre
Employee Representative Directorno datakr145.00kno data
Hanne Gravdal
Employee Representative Director11.92yrskr132.00k0.0098%
NOK 216.9k
Lars Bjørnsrud
Chairman of the Supervisory Board1.5yrskr47.00kno data
Tom Mello
Deputy Chairman of the Supervisory Board1.5yrsno datano data
Janne Weseth
Director4.42yrskr160.00kno data
Elisabeth Haug
Director1.33yrskr77.00k0.0043%
NOK 94.5k
Gisle Dahn
Director1.33yrskr119.00kno data

1.5yrs

Average Tenure

56yo

Average Age

Experienced Board: SBVG's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


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 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: kr2.209b
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBVGOB (Oslo Bors)YesPrimary Capital CertificatesNONOKMay 1994
0NY7LSE (London Stock Exchange)YesPrimary Capital CertificatesGBNOKMay 1994
SBVGOBATS-CHIXE (BATS 'Chi-X Europe')YesPrimary Capital CertificatesGBNOKMay 1994

Biography

SpareBank 1 BV provides various banking products and services for private and corporate customers in Norway. It offers current, deposit, bill, and savings accounts; mortgages; consumer, construction, car, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 21:24
End of Day Share Price2020/10/19 00:00
Earnings2020/06/30
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.