Stock Analysis Report

SpareBank 1 SR-Bank

Executive Summary

SpareBank 1 SR-Bank ASA, together with its subsidiaries, provides various financial products and services for personal and corporate customers in Southern and Western Norway.



Proven track record average dividend payer.

Similar Companies

Share Price & News

How has SpareBank 1 SR-Bank's share price performed over time and what events caused price changes?

Latest Share Price and Events

Market Performance

7 Day Return




NO Banks


NO Market

1 Year Return




NO Banks


NO Market

Return vs Industry: SRBANK exceeded the Norwegian Banks industry which returned -1.9% over the past year.

Return vs Market: SRBANK exceeded the Norwegian Market which returned -8.2% over the past year.

Share holder returns

7 Day0.2%4.3%1.7%
30 Day-0.8%-0.2%-0.09%
90 Day-5.8%-0.9%-0.7%
1 Year9.8%5.0%2.8%-1.9%-3.2%-8.2%
3 Year135.6%106.8%58.1%39.0%40.8%22.5%
5 Year121.3%80.5%89.5%50.1%63.9%26.3%

Price Volatility Vs. Market

How volatile is SpareBank 1 SR-Bank's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is SpareBank 1 SR-Bank undervalued based on future cash flows and its price relative to the stock market?


Discount to future cash flow value

Intrinsic Value Based on Future Cash Flows

Undervalued: SRBANK (NOK97) is trading below our estimate of fair value (NOK133.55)

Significantly Undervalued: SRBANK is trading below fair value, but not by a significant amount.

Price Based on Earnings

PE vs Industry: SRBANK is good value based on its PE Ratio (7.8x) compared to the Banks industry average (7.9x).

PE vs Market: SRBANK is good value based on its PE Ratio (7.8x) compared to the Norwegian market (13.3x).

Price Based on Expected Growth

Low PEG Ratio: SRBANK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price Based on Value of Assets

PB vs Industry: SRBANK is overvalued based on its PB Ratio (1.1x) compared to the NO Banks industry average (0.5x).

Next Steps

Future Growth

How is SpareBank 1 SR-Bank expected to perform in the next 1 to 3 years based on estimates from 7 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Estimates

Future Annual Growth Analysis

Earnings vs Savings Rate: SRBANK's earnings are forecast to decline over the next 3 years (-8.4% per year).

Earnings vs Market: SRBANK's earnings are forecast to decline over the next 3 years (-8.4% per year).

High Growth Earnings: SRBANK's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SRBANK's revenue (0.4% per year) is forecast to grow slower than the Norwegian market (4.9% per year).

High Growth Revenue: SRBANK's revenue (0.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Estimates

Future Return on Equity

High Future ROE: SRBANK's Return on Equity is forecast to be low in 3 years time (11%).

Next Steps

Past Performance

How has SpareBank 1 SR-Bank performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Past Earnings Growth Analysis

Earnings Trend: SRBANK's earnings have grown by 6.9% per year over the past 5 years.

Accelerating Growth: SRBANK's earnings growth over the past year (38.7%) exceeds its 5-year average (6.9% per year).

Earnings vs Industry: SRBANK earnings growth over the past year (38.7%) exceeded the Banks industry 13.3%.

Return on Equity

High ROE: SRBANK's Return on Equity (13.9%) is considered low.

Return on Assets

ROA vs Industry: SRBANK has a higher Return on Assets than the Banks industry average last year.

Return on Capital Employed

ROCE Improving: Insufficient data to calculate SRBANK's Return on Capital Employed to determine if it has improved over the past 3 years.

Next Steps

Financial Health

How is SpareBank 1 SR-Bank'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: SRBANK has a low level of unsold assets or inventory.

Debt Coverage by Assets: SRBANK's debt is not covered by short term assets (assets are 0.1x debt).

Financial Institutions Analysis

Asset Level: SRBANK's level of assets compared to its equity is moderate.

Allowance for Bad Loans: SRBANK has a low allowance for bad loans.

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

Loan Level: SRBANK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SRBANK has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: SRBANK has an appropriate level of bad loans (1.08%)

Next Steps


What is SpareBank 1 SR-Bank's current dividend yield, its reliability and sustainability?


Expected Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Dividend Yield and Payments Analysis

Notable Dividend: SRBANK's dividend (4.64%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.56%).

High Dividend: SRBANK's dividend (4.64%) is low compared to the top 25% of dividend payers in the Norwegian market (6.31%).

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

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

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36%), SRBANK's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: SRBANK's dividends in 3 years are forecast to be covered by earnings (50.9% payout ratio).

Next Steps


What is the CEO of SpareBank 1 SR-Bank's salary, the management and board of directors tenure and is there insider trading?


Average management tenure


Arne Austreid (63yo)





Mr. Arne Austreid has been the Chief Executive Officer of SpareBank 1 SR-Bank ASA since January 1, 2011. Mr. Austreid is Director at Fremtind Forsikring AS. Mr. Austreid served as the Chief Executive Offi ...

CEO Compensation Analysis

Compensation vs. Market: Arne's total compensation ($USD902.39K) is about average for companies of similar size in the Norwegian market ($USD945.13K).

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

Management Age and Tenure


Average Tenure


Average Age

Experienced Management: SRBANK's management team is seasoned and experienced (8.8 years average tenure).

Board Age and Tenure


Average Tenure


Average Age

Experienced Board: SRBANK's board of directors are considered experienced (4.3 years average tenure).

Insider Trading

Insider Buying: SRBANK insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Buykr473,25022 Aug 19
Dag Mejdell
Chairman of the Board
Chairman of the Board
Max Pricekr94.65
Buykr190,00015 Aug 19
Therese Bergjord
Member of the Board of Directors
Max Pricekr95.00

Ownership Breakdown

Management Team

  • Arne Austreid (63yo)

    Chief Executive Officer

    • Tenure: 8.8yrs
    • Compensation: kr8.23m
  • Gro Tveit (50yo)

    Executive Vice President of Human Resources & Business Support

    • Tenure: 1.3yrs
    • Compensation: kr1.92m
  • Tore Medhus (54yo)

    Executive Vice President of Corporate Market

    • Tenure: 19.1yrs
    • Compensation: kr3.62m
  • Thor-Christian Haugland (56yo)

    Executive Vice President of Communications & Sustainability

    • Tenure: 14.8yrs
    • Compensation: kr2.85m
  • Jan Friestad (53yo)

    Executive Vice President of Retail Market

    • Tenure: 8.2yrs
    • Compensation: kr3.02m
  • Frode (51yo)

    Executive Vice President of Risk Management

    • Tenure: 13.8yrs
    • Compensation: kr3.07m
  • Stian Helgøy

    Vice President of Investor Relations

    • Tenure: 0yrs
    • Compensation: kr2.23m
  • Inge Reinertsen (48yo)

    Chief Financial Officer

    • Tenure: 9.7yrs
    • Compensation: kr3.69m
  • Glenn Sæther (53yo)

    Executive Vice President of Strategy

    • Tenure: 1.7yrs
    • Compensation: kr3.55m
  • Ella Skjørestad (39yo)

    Executive Vice President of Customer Services & Marketing

    • Tenure: 1.7yrs
    • Compensation: kr2.25m

Board Members

  • Dag Mejdell (62yo)

    Chairman of the Board

    • Tenure: 3.3yrs
    • Compensation: kr638.00k
  • Terje Vareberg (71yo)

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: kr511.00k
  • Terje Nysted (70yo)

    Member of Supervisory Board

    • Tenure: 0yrs
  • Anne Nystrøm Kvale

    Member of Supervisory Board

    • Tenure: 0yrs
  • Therese Bergjord (54yo)


    • Tenure: 2.5yrs
    • Compensation: kr280.00k
  • Per Sekse (63yo)

    Chair of the Supervisory Board

    • Tenure: 5.3yrs
  • Birthe Lepsøe (48yo)


    • Tenure: 7.8yrs
    • Compensation: kr335.00k
  • Jan Skogseth (64yo)


    • Tenure: 2.5yrs
    • Compensation: kr285.00k
  • Tor Dahle (67yo)


    • Tenure: 6.3yrs
    • Compensation: kr1.45m
  • Kate Henriksen (59yo)


    • Tenure: 4.3yrs
    • Compensation: kr290.00k

Company Information

SpareBank 1 SR-Bank ASA's company bio, employee growth, exchange listings and data sources

Key Information

Number of Employees


  • SpareBank 1 SR-Bank ASA
  • Bjergsted Terrasse 1
  • Postboks 250
  • Stavanger
  • Rogaland
  • 4066
  • Norway


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SRBANKOB (Oslo Bors)YesOrdinary SharesNONOKMay 1994
SBRK.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMay 1994
0Q57LSE (London Stock Exchange)YesOrdinary SharesGBNOKMay 1994
B4M1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 1994
SRBANOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKMay 1994
ROGG57OB (Oslo Bors)FRN PERP NOK500000 'BANK/VAR'NONOKSep 2012
ROGG56OB (Oslo Bors)9.35%-FRN T1 PERP NOK500000 'BANK/VAR'NONOKSep 2012


SpareBank 1 SR-Bank ASA, together with its subsidiaries, provides various financial products and services for personal and corporate customers in Southern and Western Norway. The company offers its product ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 20:35
End of Day Share Price2019/10/14 00:00
Annual Earnings2018/12/31

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.


Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.

Copyright © 2018, Standard & Poor’s Financial Services LLC. Reproduction of S&P Capital IQ in any form is prohibited except with the prior written permission of S&P. S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber’s or others’ use of S&P Capital IQ. (2018)