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SOON

SpareBank 1 Sørøst-NorgeOB:SOON Stock Report

Market Cap

kr6.2b

7D

0.8%

1Y

43.3%

Updated

24 Sep, 2021

Data

Company Financials +
SOON fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance5/6
Financial Health4/6
Dividends4/6

SOON Overview

SpareBank 1 Sørøst-Norge provides various banking products and services for private and corporate customers in Norway.

Price History & Performance

Summary of all time highs, changes and price drops for SpareBank 1 Sørøst-Norge
Historical stock prices
Current Share Pricekr52.00
52 Week Highkr33.70
52 Week Lowkr52.60
Beta0.51
1 Month Change4.21%
3 Month Change4.00%
1 Year Change43.25%
3 Year Change44.04%
5 Year Change140.74%
Change since IPO22.60%

Recent News & Updates

Apr 03
Increases to CEO Compensation Might Be Put On Hold For Now at SpareBank 1 BV (OB:SBVG)

Increases to CEO Compensation Might Be Put On Hold For Now at SpareBank 1 BV (OB:SBVG)

Despite strong share price growth of 62% for SpareBank 1 BV ( OB:SBVG ) over the last few years, earnings growth has...

Mar 08
Growth Investors: Industry Analysts Just Upgraded Their SpareBank 1 BV (OB:SBVG) Revenue Forecasts By 65%

Growth Investors: Industry Analysts Just Upgraded Their SpareBank 1 BV (OB:SBVG) Revenue Forecasts By 65%

Shareholders in SpareBank 1 BV ( OB:SBVG ) may be thrilled to learn that the analysts have just delivered a major...

Shareholder Returns

SOONNO BanksNO Market
7D0.8%2.7%1.2%
1Y43.3%45.1%26.4%

Return vs Industry: SOON matched the Norwegian Banks industry which returned 42.5% over the past year.

Return vs Market: SOON exceeded the Norwegian Market which returned 25.9% over the past year.

Price Volatility

Is SOON's price volatile compared to industry and market?
SOON volatility
SOON Beta0.51
Industry Beta0.87
Market Beta1

Stable Share Price: SOON is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: SOON's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1859530Rune Fjeldstadhttps://www.sparebank1.no/nb/bv

SpareBank 1 Sørøst-Norge 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, boat, motorcycle, caravan, motorhome, and ATV vehicle loans; and bank guarantee, trade credit, agriculture operating credit, and factoring services, as well as vehicle and equipment leasing services. The company also provides auto, electric car, motorhome, veteran, boat, moped, snowmobile, tractor, bike, caravan, trailer, and ATV vehicle insurance products; and house, property, costume, hearing aid, bell, travel, valuables, life, children, disability, critical illness, accident, and health insurance products, as well as dog, cat, and horse insurance.

SpareBank 1 Sørøst-Norge Fundamentals Summary

How do SpareBank 1 Sørøst-Norge's earnings and revenue compare to its market cap?
SOON fundamental statistics
Market Capkr6.17b
Earnings (TTM)kr368.36m
Revenue (TTM)kr1.40b

16.8x

P/E Ratio

0.6x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SOON income statement (TTM)
Revenuekr1.40b
Cost of Revenuekr0
Gross Profitkr1.40b
Expenseskr1.03b
Earningskr368.36m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 10, 2021

Earnings per share (EPS)3.10
Gross Margin100.00%
Net Profit Margin26.25%
Debt/Equity Ratio172.5%

How did SOON perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

61%

Payout Ratio

Valuation

Is SpareBank 1 Sørøst-Norge undervalued compared to its fair value and its price relative to the market?

35.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SOON (NOK52) is trading below our estimate of fair value (NOK80.87)

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


Price To Earnings Ratio

PE vs Industry: SOON is poor value based on its PE Ratio (16.8x) compared to the Norwegian Banks industry average (11.3x).

PE vs Market: SOON is poor value based on its PE Ratio (16.8x) compared to the Norwegian market (13.3x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: SOON's PB Ratio (0.6x) is in line with the NO Banks industry average.


Future Growth

How is SpareBank 1 Sørøst-Norge forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

23.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SOON's forecast earnings growth (23.2% per year) is above the savings rate (1.2%).

Earnings vs Market: SOON's earnings (23.2% per year) are forecast to grow faster than the Norwegian market (10.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SOON's revenue (13.7% per year) is forecast to grow faster than the Norwegian market (5.8% per year).

High Growth Revenue: SOON's revenue (13.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SOON's Return on Equity is forecast to be low in 3 years time (9.5%).


Past Performance

How has SpareBank 1 Sørøst-Norge performed over the past 5 years?

15.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SOON has high quality earnings.

Growing Profit Margin: SOON's current net profit margins (26.3%) are higher than last year (22%).


Past Earnings Growth Analysis

Earnings Trend: SOON's earnings have grown by 15.6% per year over the past 5 years.

Accelerating Growth: SOON's earnings growth over the past year (40.9%) exceeds its 5-year average (15.6% per year).

Earnings vs Industry: SOON earnings growth over the past year (40.9%) exceeded the Banks industry 26.4%.


Return on Equity

High ROE: SOON's Return on Equity (6.6%) is considered low.


Financial Health

How is SpareBank 1 Sørøst-Norge'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: SOON's Assets to Equity ratio (7.7x) is low.

Allowance for Bad Loans: SOON has a low allowance for bad loans (88%).

Low Risk Liabilities: 73% of SOON's liabilities are made up of primarily low risk sources of funding.

Loan Level: SOON has an appropriate level of Loans to Assets ratio (83%).

Low Risk Deposits: SOON's Loans to Deposits ratio (131%) is high.

Level of Bad Loans: SOON has an appropriate level of bad loans (0.5%).


Dividend

What is SpareBank 1 Sørøst-Norge current dividend yield, its reliability and sustainability?

3.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SOON's dividend (3.65%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.86%).

High Dividend: SOON's dividend (3.65%) is low compared to the top 25% of dividend payers in the Norwegian market (5.14%).


Stability and Growth of Payments

Stable Dividend: SOON's dividend payments have been volatile in the past 10 years.

Growing Dividend: SOON's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.2%), SOON's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SOON's dividends in 3 years are forecast to be well covered by earnings (45.2% payout ratio).


Next Steps

Management

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

2.3yrs

Average board tenure


CEO

Rune Fjeldstad (59 yo)

6.33yrs

Tenure

kr9,218,000

Compensation

Mr. Rune Fjeldstad has been Chief Executive Officer of SpareBank 1 Sørøst-Norge (formerly known as SpareBank 1 BV) since May 1, 2015 and served as its Director since April 2014 until February 2015. Mr. Fje...


CEO Compensation Analysis

Compensation vs Market: Rune's total compensation ($USD1.07M) is above average for companies of similar size in the Norwegian market ($USD658.87K).

Compensation vs Earnings: Rune's compensation has increased by more than 20% in the past year.


Board Members

Experienced Board: SOON's board of directors are not considered experienced ( 2.3 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 88.1%.


Top Shareholders

Company Information

SpareBank 1 Sørøst-Norge's employee growth, exchange listings and data sources


Key Information

  • Name: SpareBank 1 Sørøst-Norge
  • Ticker: SOON
  • Exchange: OB
  • Founded: 1859
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: kr6.172b
  • Shares outstanding: 118.69m
  • Website: https://www.sparebank1.no/nb/bv

Number of Employees


Location

  • SpareBank 1 Sørøst-Norge
  • Anton Jenssens gate 2
  • Tønsberg
  • Vestfold
  • 3125
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/24 22:57
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.