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SPOG

Sparebanken ØstOB:SPOG Stock Report

Market Cap

kr1.1b

7D

0%

1Y

14.3%

Updated

25 Sep, 2021

Data

Company Financials +
SPOG fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance1/6
Financial Health2/6
Dividends4/6

SPOG Overview

Sparebanken Øst operates as a savings bank in Eastern Norway.

Price History & Performance

Summary of all time highs, changes and price drops for Sparebanken Øst
Historical stock prices
Current Share Pricekr51.80
52 Week Highkr43.70
52 Week Lowkr55.20
Beta0.47
1 Month Change2.37%
3 Month Change-0.39%
1 Year Change14.35%
3 Year Change-7.17%
5 Year Change9.05%
Change since IPO-51.59%

Recent News & Updates

May 07
Do Sparebanken Øst's (OB:SPOG) Earnings Warrant Your Attention?

Do Sparebanken Øst's (OB:SPOG) Earnings Warrant Your Attention?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

SPOGNO BanksNO Market
7D0%2.7%1.2%
1Y14.3%45.1%26.4%

Return vs Industry: SPOG underperformed the Norwegian Banks industry which returned 45.1% over the past year.

Return vs Market: SPOG underperformed the Norwegian Market which returned 26.4% over the past year.

Price Volatility

Is SPOG's price volatile compared to industry and market?
SPOG volatility
SPOG Beta0.47
Industry Beta0.87
Market Beta1

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

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

About the Company

FoundedEmployeesCEOWebsite
1843184Pal Strandhttps://www.oest.no

Sparebanken Øst operates as a savings bank in Eastern Norway. The company offers financial products, such as savings, credit, and payment products; mortgages on homes; and debenture financing for second-hand cars, as well as services in the areas of financing, savings and investment, and money-transfer. It also distributes insurance, fund shares, interest rate hedging, and currency, as well as operates, manages, leases, and sells real estate properties.

Sparebanken Øst Fundamentals Summary

How do Sparebanken Øst's earnings and revenue compare to its market cap?
SPOG fundamental statistics
Market Capkr1.07b
Earnings (TTM)kr103.20m
Revenue (TTM)kr737.80m

10.4x

P/E Ratio

0.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SPOG income statement (TTM)
Revenuekr737.80m
Cost of Revenuekr0
Gross Profitkr737.80m
Expenseskr634.60m
Earningskr103.20m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.98
Gross Margin100.00%
Net Profit Margin13.99%
Debt/Equity Ratio580.6%

How did SPOG perform over the long term?

See historical performance and comparison

Dividends

8.7%

Current Dividend Yield

90%

Payout Ratio

Valuation

Is Sparebanken Øst undervalued compared to its fair value and its price relative to the market?

30.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SPOG (NOK51.8) is trading below our estimate of fair value (NOK74.29)

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


Price To Earnings Ratio

PE vs Industry: SPOG is good value based on its PE Ratio (10.4x) compared to the Norwegian Banks industry average (11.3x).

PE vs Market: SPOG is good value based on its PE Ratio (10.4x) compared to the Norwegian market (13.4x).


Price to Earnings Growth Ratio

PEG Ratio: SPOG is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: SPOG is good value based on its PB Ratio (0.2x) compared to the NO Banks industry average (0.6x).


Future Growth

How is Sparebanken Øst forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

9.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPOG's forecast earnings growth (9.3% per year) is above the savings rate (1.2%).

Earnings vs Market: SPOG's earnings (9.3% per year) are forecast to grow slower than the Norwegian market (10.2% per year).

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

Revenue vs Market: SPOG's revenue (3.6% per year) is forecast to grow slower than the Norwegian market (5.6% per year).

High Growth Revenue: SPOG's revenue (3.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SPOG's Return on Equity is forecast to be low in 3 years time (7.2%).


Past Performance

How has Sparebanken Øst performed over the past 5 years?

0.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SPOG has a high level of non-cash earnings.

Growing Profit Margin: SPOG's current net profit margins (14%) are lower than last year (17.3%).


Past Earnings Growth Analysis

Earnings Trend: SPOG's earnings have grown by 0.8% per year over the past 5 years.

Accelerating Growth: SPOG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SPOG had negative earnings growth (-30.2%) over the past year, making it difficult to compare to the Banks industry average (26.4%).


Return on Equity

High ROE: SPOG's Return on Equity (7.4%) is considered low.


Financial Health

How is Sparebanken Øst'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: SPOG's Assets to Equity ratio (10.7x) is moderate.

Allowance for Bad Loans: Insufficient data to determine if SPOG has a sufficient allowance for bad loans.

Low Risk Liabilities: 61% of SPOG's liabilities are made up of primarily higher risk sources of funding.

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

Low Risk Deposits: SPOG's Loans to Deposits ratio (233%) is high.

Level of Bad Loans: Insufficient data to determine if SPOG has an appropriate level of bad loans.


Dividend

What is Sparebanken Øst current dividend yield, its reliability and sustainability?

8.69%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SPOG's dividend (8.69%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.84%).

High Dividend: SPOG's dividend (8.69%) is in the top 25% of dividend payers in the Norwegian market (5.16%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (90.4%), SPOG's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SPOG's dividends in 3 years are forecast to be covered by earnings (79.9% payout ratio).


Next Steps

Management

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

2.9yrs

Average management tenure


CEO

Pal Strand (56 yo)

10.17yrs

Tenure

kr3,092,000

Compensation

Mr. Pal Strand serves as a Director of Frende Holding AS. Mr. Strand was appointed as the Chief Executive Officer of Sparebanken Øst on July 1, 2011. Mr. Strand served as its Director of Private & Corporat...


CEO Compensation Analysis

Compensation vs Market: Pal's total compensation ($USD359.05K) is about average for companies of similar size in the Norwegian market ($USD342.22K).

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


Leadership Team

Experienced Management: SPOG's management team is considered experienced (2.9 years average tenure).


Board Members

Experienced Board: SPOG's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SPOG 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

Sparebanken Øst's employee growth, exchange listings and data sources


Key Information

  • Name: Sparebanken Øst
  • Ticker: SPOG
  • Exchange: OB
  • Founded: 1843
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr1.074b
  • Shares outstanding: 20.73m
  • Website: https://www.oest.no

Number of Employees


Location

  • Sparebanken Øst
  • Bragernes Torg 2
  • PO Box 67
  • Drammen
  • Buskerud
  • 3301
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 16:20
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.