Executive Summary
SpareBank 1 Østlandet provides various financial products and services to individuals, businesses, public sectors, clubs, and societies.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -4.1% per year for the next 3 years
Snowflake Analysis
Solid track record and good value.
Share Price & News
How has SpareBank 1 Østlandet's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SPOL has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.4%
SPOL
-1.1%
NO Banks
-0.8%
NO Market
1 Year Return
18.3%
SPOL
9.1%
NO Banks
4.9%
NO Market
Return vs Industry: SPOL exceeded the Norwegian Banks industry which returned 10.1% over the past year.
Return vs Market: SPOL exceeded the Norwegian Market which returned 4.5% over the past year.
Shareholder returns
| SPOL | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.4% | -1.1% | -0.8% |
| 30 Day | 7.3% | 0.07% | 1.1% |
| 90 Day | 10.9% | -0.6% | 4.4% |
| 1 Year | 24.2%18.3% | 14.5%9.1% | 10.5%4.9% |
| 3 Year | n/a | 35.5%18.9% | 31.4%15.1% |
| 5 Year | n/a | 92.1%52.2% | 64.3%26.9% |
Price Volatility Vs. Market
How volatile is SpareBank 1 Østlandet's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
What Makes SpareBank 1 Østlandet (OB:SPOL) A Great Dividend Stock?1 month ago | Simply Wall St
Investors Who Bought SpareBank 1 Østlandet (OB:SPOL) Shares A Year Ago Are Now Up 14%1 month ago | Simply Wall St
SpareBank 1 Østlandet (OB:SPOL) Insiders Increased Their HoldingsValuation
Is SpareBank 1 Østlandet undervalued compared to its fair value and its price relative to the market?
29.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SPOL (NOK95.7) is trading below our estimate of fair value (NOK139.61)
Significantly Below Fair Value: SPOL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SPOL is good value based on its PE Ratio (8.7x) compared to the Banks industry average (8.8x).
PE vs Market: SPOL is good value based on its PE Ratio (8.4x) compared to the Norwegian market (14.2x).
Price to Earnings Growth Ratio
PEG Ratio: SPOL's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: SPOL is overvalued based on its PB Ratio (0.7x) compared to the NO Banks industry average (0.5x).
Next Steps
Future Growth
How is SpareBank 1 Østlandet forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-4.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SPOL's earnings are forecast to decline over the next 3 years (-4.1% per year).
Earnings vs Market: SPOL's earnings are forecast to decline over the next 3 years (-4.1% per year).
High Growth Earnings: SPOL's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SPOL's revenue (0.09% per year) is forecast to grow slower than the Norwegian market (3.2% per year).
High Growth Revenue: SPOL's revenue (0.09% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SPOL's Return on Equity is forecast to be low in 3 years time (10.2%).
Next Steps
Past Performance
How has SpareBank 1 Østlandet performed over the past 5 years?
7.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SPOL has high quality earnings.
Growing Profit Margin: SPOL's current net profit margins (32.8%) are higher than last year (25.7%).
Past Earnings Growth Analysis
Earnings Trend: SPOL's earnings have grown by 7% per year over the past 5 years.
Accelerating Growth: SPOL's earnings growth over the past year (44.1%) exceeds its 5-year average (7% per year).
Earnings vs Industry: SPOL earnings growth over the past year (44.1%) exceeded the Banks industry 13%.
Return on Equity
High ROE: SPOL's Return on Equity (12.4%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is SpareBank 1 Østlandet'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: SPOL has a low level of unsold assets or inventory.
Debt Coverage by Assets: SPOL's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: SPOL's level of assets compared to its equity is low.
Allowance for Bad Loans: SPOL has a low allowance for bad loans.
Low Risk Liabilities: SPOL's liabilities are made up of primarily low risk sources of funding.
Loan Level: SPOL has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SPOL has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: SPOL has an appropriate level of bad loans (0.46%)
Next Steps
Dividend
What is SpareBank 1 Østlandet's current dividend yield, its reliability and sustainability?
4.17%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: SPOL's dividend (4.31%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.4%).
High Dividend: SPOL's dividend (4.31%) is low compared to the top 25% of dividend payers in the Norwegian market (5.71%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, SPOL has been paying a dividend for less than 10 years.
Growing Dividend: SPOL's dividend payments have increased, but the company has only paid a dividend for 2 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (36.3%), SPOL's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SPOL's dividends in 3 years are forecast to be covered by earnings (50.4% payout ratio).
Next Steps
Management
What is the CEO of SpareBank 1 Østlandet's salary, the management and board of directors tenure and is there insider trading?
7.2yrs
Average management tenure
CEO
Richard Heiberg (63yo)
9.6yrs
Tenure
kr4,891,000
Compensation
Mr. Richard H. Heiberg has been Deputy Chairman of the Board at SpareBank 1 Gruppen AS since April 4, 2018 and serves as its Director. He has been the Chief Executive Officer of SpareBank 1 Østlandet (form ...
CEO Compensation Analysis
Compensation vs Market: Richard's total compensation ($USD550.96K) is about average for companies of similar size in the Norwegian market ($USD587.00K).
Compensation vs Earnings: Richard's compensation has been consistent with company performance over the past year.
Management Age and Tenure
7.2yrs
Average Tenure
62yo
Average Age
Experienced Management: SPOL's management team is seasoned and experienced (7.2 years average tenure).
Board Age and Tenure
4.0yrs
Average Tenure
51yo
Average Age
Experienced Board: SPOL's board of directors are considered experienced (4 years average tenure).
Insider Trading
Insider Buying: SPOL insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Financial Officer Executive Vice President & CFO |
| Shares | 500 |
| Max Price | kr91.58 |
| Entity | Individual |
| Role | Chief Executive Officer Chief Executive Officer |
| Shares | 5,000 |
| Max Price | kr90.01 |
| Entity | Individual |
| Role | Senior Key Executive Chief Risk Officer |
| Shares | 1,175 |
| Max Price | kr85.00 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 1,602 |
| Max Price | kr84.50 |
| Entity | Individual |
| Role | Chief Legal Officer Head of HR & Legal |
| Shares | 1,000 |
| Max Price | kr83.64 |
| Entity | Individual |
| Shares | 1,500 |
| Max Price | kr85.40 |
| Entity | Individual |
| Shares | 1,453 |
| Max Price | kr85.20 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.4%.
Management Team
Richard Heiberg (63yo)
Chief Executive Officer
- Tenure: 9.6yrs
- Compensation: kr4.89m
Hans Wedvik
Head of Corporate Banking
- Compensation: kr2.47m
Eldar Kjendlie
Head of HR & Legal
- Compensation: kr2.24m
Siv Stenseth
Head of Communications
- Compensation: kr2.10m
Dag-Arne Hoberg (62yo)
Head of Innovation & Business Development
- Compensation: kr2.47m
Vidar Nordheim
Chief Risk Officer
- Compensation: kr2.20m
Kari Gisnås
Head of Personal Banking
- Compensation: kr2.80m
Geir-Egil Bolstad (52yo)
Executive Vice President & CFO
- Tenure: 3.1yrs
- Compensation: kr3.21m
Magnus Aasen
Managing Director of EiendomsMegler 1 Hedmark Eiendom AS
- Tenure: 7.2yrs
- Compensation: kr1.70m
Espen Mejlænder-Larsen
Head of Organizations & Capital Markets
- Compensation: kr2.11m
Board Members
Siri Strømmevold (58yo)
Chair of the Board
- Tenure: 8yrs
- Compensation: kr321.00k
Nina Lier (47yo)
Deputy Chairman of the Board
- Tenure: 4yrs
- Compensation: kr253.00k
Espen Larsen (43yo)
Director
- Tenure: 12yrs
- Compensation: kr1.22m
Tore Dobloug (57yo)
Director
- Tenure: 1yrs
- Compensation: kr2.12m
Pål-Jan Stokke
Chairman of the Supervisory Board
- Compensation: kr6.00k
Alexander Lund (50yo)
Director
- Tenure: 1yrs
- Compensation: kr52.00k
Hans-Christian Gabrielsen (52yo)
Director
- Tenure: 4yrs
- Compensation: kr154.00k
Vibeke Larsen (42yo)
Director
- Tenure: 4yrs
- Compensation: kr722.00k
Guro Vestvik (52yo)
Director
- Tenure: 4yrs
- Compensation: kr165.00k
Siri Enget
Deputy Chairman of supervisory board
- Tenure: 1.8yrs
Company Information
SpareBank 1 Østlandet's company bio, employee growth, exchange listings and data sources
Key Information
- Name: SpareBank 1 Østlandet
- Ticker: SPOL
- Exchange: OB
- Founded: 1845
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: kr11.456b
- Shares outstanding: 115.83m
- Website: https://www.sparebank1.no/en/ostlandet/personal.html
Number of Employees
Location
- SpareBank 1 Østlandet
- Strandgata 15
- Hamar
- Hedmark
- 2302
- Norway
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SPOL | OB (Oslo Bors) | Yes | Equity Capital Instruments | NO | NOK | Jun 2017 |
| 2SF | DB (Deutsche Boerse AG) | Yes | Equity Capital Instruments | DE | EUR | Jun 2017 |
| 0RU6 | LSE (London Stock Exchange) | Yes | Equity Capital Instruments | GB | NOK | Jun 2017 |
| SPOLO | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Equity Capital Instruments | GB | NOK | Jun 2017 |
| SPRB.F | OTCPK (Pink Sheets LLC) | Yes | Equity Capital Instruments | US | USD | Jun 2017 |
Biography
SpareBank 1 Østlandet provides various financial products and services to individuals, businesses, public sectors, clubs, and societies. It offers loans, retail and corporate banking services, deposits, insurance products, and pensions. The company offers payment, real estate brokerage, accounting and payroll services, leasing, and financing, consulting, and online banking services. It has 37 branches, including 21 in Hedmark, 2 in Oppland, 5 in Oslo, and 9 in Akershus. SpareBank 1 Østlandet was founded in 1845 and is headquartered in Hamar, Norway.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/26 22:54 |
| End of Day Share Price | 2020/01/24 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.