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Sparebanken Vest

Market Cap

kr9.3b

Last Updated

2021/05/07 16:22 UTC

Data Sources

Company Financials +

Executive Summary

Sparebanken Vest, a financial services company, provides banking and financing services in the counties of Vestland and Rogaland, Norway. More Details


Snowflake Analysis

Solid track record with reasonable growth potential and pays a dividend.


Similar Companies

Share Price & News

How has Sparebanken Vest's share price performed over time and what events caused price changes?


Latest Share Price and Events

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

Volatility Over Time: SVEG's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

2.2%

SVEG

1.6%

NO Banks

-0.8%

NO Market


1 Year Return

46.5%

SVEG

53.3%

NO Banks

35.9%

NO Market

Return vs Industry: SVEG underperformed the Norwegian Banks industry which returned 53.3% over the past year.

Return vs Market: SVEG exceeded the Norwegian Market which returned 35.9% over the past year.


Shareholder returns

SVEGIndustryMarket
7 Day2.2%1.6%-0.8%
30 Day10.1%1.7%-0.8%
90 Day22.9%9.2%3.7%
1 Year50.5%46.5%60.1%53.3%41.7%35.9%
3 Year103.4%79.8%33.6%20.8%12.8%0.3%
5 Year237.3%155.9%126.1%88.0%77.8%45.0%

Long-Term Price Volatility Vs. Market

How volatile is Sparebanken Vest's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

11.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SVEG (NOK87) is trading above our estimate of fair value (NOK72.93)

Significantly Below Fair Value: SVEG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SVEG is poor value based on its PE Ratio (11.8x) compared to the NO Banks industry average (11.4x).

PE vs Market: SVEG is good value based on its PE Ratio (11.8x) compared to the Norwegian market (15.2x).


Price to Earnings Growth Ratio

PEG Ratio: SVEG is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: SVEG's PB Ratio (0.5x) is in line with the NO Banks industry average.


Future Growth

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

30.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SVEG's forecast earnings growth (30.5% per year) is above the savings rate (1.2%).

Earnings vs Market: SVEG's earnings (30.5% per year) are forecast to grow faster than the Norwegian market (19.3% per year).

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

Revenue vs Market: SVEG's revenue (7.7% per year) is forecast to grow faster than the Norwegian market (5.4% per year).

High Growth Revenue: SVEG's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SVEG's Return on Equity is forecast to be low in 3 years time (11.6%).


Past Performance

How has Sparebanken Vest performed over the past 5 years?

17.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SVEG has high quality earnings.

Growing Profit Margin: SVEG's current net profit margins (20.6%) are higher than last year (12.3%).


Past Earnings Growth Analysis

Earnings Trend: SVEG's earnings have grown by 17.4% per year over the past 5 years.

Accelerating Growth: SVEG's earnings growth over the past year (56.4%) exceeds its 5-year average (17.4% per year).

Earnings vs Industry: SVEG earnings growth over the past year (56.4%) exceeded the Banks industry 3.3%.


Return on Equity

High ROE: SVEG's Return on Equity (11%) is considered low.


Financial Health

How is Sparebanken Vest'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: SVEG's Assets to Equity ratio (12x) is moderate.

Allowance for Bad Loans: SVEG has a sufficient allowance for bad loans (221%).

Low Risk Liabilities: 59% of SVEG's liabilities are made up of primarily higher risk sources of funding.

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

Low Risk Deposits: SVEG's Loans to Deposits ratio (222%) is high.

Level of Bad Loans: SVEG has an appropriate level of bad loans (0.2%).


Dividend

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

4.60%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SVEG's dividend (4.6%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.97%).

High Dividend: SVEG's dividend (4.6%) is low compared to the top 25% of dividend payers in the Norwegian market (4.99%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.4%), SVEG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SVEG's dividends in 3 years are forecast to be well covered by earnings (48.7% payout ratio).


Next Steps

Management

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

1.7yrs

Average management tenure


CEO

Jan Kjerpeseth (49 yo)

7.58yrs

Tenure

kr6,977,000

Compensation

Mr. Jan Erik Kjerpeseth serves as the Chairman of Frende Holding AS. Mr. Kjerpeseth has been Chairman of the Board at BKK AS (formerly known as Bergenshalvøens Kommunale Kraftselskap AS) since June 07, 201...


CEO Compensation Analysis

Compensation vs Market: Jan's total compensation ($USD839.13K) is above average for companies of similar size in the Norwegian market ($USD632.29K).

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


Leadership Team

Experienced Management: SVEG's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

Experienced Board: SVEG's board of directors are considered experienced (4.2 years average tenure).


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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Sparebanken Vest's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sparebanken Vest
  • Ticker: SVEG
  • Exchange: OB
  • Founded: 1823
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr9.307b
  • Shares outstanding: 107.22m
  • Website: https://www.spv.no

Number of Employees


Location

  • Sparebanken Vest
  • Jonsvollsgaten 2
  • Bergen
  • Hordaland
  • 5011
  • Norway

Listings


Biography

Sparebanken Vest, a financial services company, provides banking and financing services in the counties of Vestland and Rogaland, Norway. It operates through Corporate Market, Retail Market, Bulder Bank, T...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/07 16:22
End of Day Share Price2021/05/07 00:00
Earnings2020/12/31
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.