Sparebanken Vest, a financial services company, provides banking and financing services in the counties of Hordaland, Rogaland, and Sogn og Fjordane, Norway.
Very undervalued with solid track record and pays a dividend.
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's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: SVEG exceeded the Norwegian Banks industry which returned -30.2% over the past year.
Return vs Market: SVEG exceeded the Norwegian Market which returned -28.8% over the past year.
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
1 week ago | Simply Wall StSparebanken Vest (OB:SVEG) Will Pay A kr2.80 Dividend In 4 Days
1 month ago | Simply Wall StKey Things To Watch Out For If You Are After Sparebanken Vest's (OB:SVEG) 3.9% Dividend
1 month ago | Simply Wall StSparebanken Vest Just Released Its Yearly Results And Analysts Are Updating Their Estimates
Is Sparebanken Vest undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SVEG (NOK48.5) is trading below our estimate of fair value (NOK66.51)
Significantly Below Fair Value: SVEG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SVEG is good value based on its PE Ratio (6.5x) compared to the Banks industry average (6.6x).
PE vs Market: SVEG is good value based on its PE Ratio (6.5x) compared to the Norwegian market (9.7x).
Price to Earnings Growth Ratio
PEG Ratio: SVEG is good value based on its PEG Ratio (0.2x)
Price to Book Ratio
PB vs Industry: SVEG is good value based on its PB Ratio (0.3x) compared to the NO Banks industry average (0.4x).
How is Sparebanken Vest forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SVEG's forecast earnings growth (26.2% per year) is above the savings rate (0.7%).
Earnings vs Market: SVEG's earnings (26.2% per year) are forecast to grow faster than the Norwegian market (19.4% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SVEG's revenue (4.6% per year) is forecast to grow faster than the Norwegian market (3% per year).
High Growth Revenue: SVEG's revenue (4.6% 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%).
How has Sparebanken Vest performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SVEG has high quality earnings.
Growing Profit Margin: SVEG's current net profit margins (12.2%) are higher than last year (9.9%).
Past Earnings Growth Analysis
Earnings Trend: SVEG's earnings have grown by 17.6% per year over the past 5 years.
Accelerating Growth: SVEG's earnings growth over the past year (39.6%) exceeds its 5-year average (17.6% per year).
Earnings vs Industry: SVEG earnings growth over the past year (39.6%) exceeded the Banks industry 18.4%.
Return on Equity
High ROE: SVEG's Return on Equity (12.2%) is considered low.
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
Inventory Level: SVEG has a low level of unsold assets or inventory.
Debt Coverage by Assets: SVEG's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: SVEG's level of assets compared to its equity is moderate.
Allowance for Bad Loans: SVEG has a sufficient allowance for bad loans.
Low Risk Liabilities: SVEG's liabilities are made up of primarily higher risk sources of funding.
Loan Level: SVEG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: SVEG has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: SVEG has an appropriate level of bad loans (0.24%)
What is Sparebanken Vest's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SVEG's dividend (5.77%) is higher than the bottom 25% of dividend payers in the Norwegian market (3.86%).
High Dividend: SVEG's dividend (5.77%) is low compared to the top 25% of dividend payers in the Norwegian market (8.43%).
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 reasonably low payout ratio (37.5%), SVEG's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SVEG's dividends in 3 years are forecast to be well covered by earnings (46.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jan Kjerpeseth (48yo)
Mr. Jan Erik Kjerpeseth has been Chairman of the Board at Bergenshalvøens Kommunale Kraftselskap AS since June 07, 2018. Mr. Kjerpeseth has been Chief Executive Officer of Sparebanken Vest since October 31 ...
CEO Compensation Analysis
Compensation vs Market: Jan's total compensation ($USD627.55K) is about average for companies of similar size in the Norwegian market ($USD491.21K).
Compensation vs Earnings: Jan's compensation has been consistent with company performance over the past year.
|MD & CEO||6.42yrs||kr6.55m||0.22% NOK6.2m|
|Executive VP & CFO||0.50yr||kr3.33m||0.093% NOK2.7m|
|Executive VP & Head of Operational Services||4.25yrs||kr2.90m||0.085% NOK2.4m|
|Executive VP||3yrs||kr2.85m||0.080% NOK2.3m|
|Executive VP & Head of Corporate Market||6.33yrs||kr3.50m||0.049% NOK1.4m|
|Executive VP and Head of Organization & Development||2.5yrs||kr2.08m||0.021% NOK591.5k|
|Head of Management Accounting||no data||no data||no data|
|Chief Information Officer & Head of Communication||no data||no data||0.0037% NOK107.3k|
|Leader IR||no data||no data||no data|
|Head of Legal||no data||no data||no data|
Experienced Management: SVEG's management team is considered experienced (3.6 years average tenure).
|Deputy Chairman||0.58yr||kr224.00k||0.010% NOK290.6k|
|Chairman of the Board||1yr||kr228.58k||0.0029% NOK82.6k|
|Independent Director||11.92yrs||kr227.20k||no data|
|Employee Representative Board Member||9.92yrs||kr184.30k||0.011% NOK304.1k|
|Employee Representative Board Member||6.92yrs||kr170.00k||0.0063% NOK181.5k|
|Independent Director||7.92yrs||kr198.40k||no data|
|Chair of Supervisory Board||5.17yrs||no data||no data|
|Independent Director||4yrs||kr234.60k||0.013% NOK376.0k|
|Employee Representative Board Member||4yrs||kr170.00k||0.0022% NOK64.4k|
|Independent Director||3yrs||kr180.60k||no data|
Experienced Board: SVEG's board of directors are considered experienced (4.6 years average tenure).
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.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13%.
Sparebanken Vest's company bio, employee growth, exchange listings and data sources
- Name: Sparebanken Vest
- Ticker: SVEG
- Exchange: OB
- Founded: 1823
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: kr2.877b
- Shares outstanding: 60.19m
- Website: https://www.spv.no
Number of Employees
- Sparebanken Vest
- Jonsvollsgaten 2
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SVEG||OB (Oslo Bors)||Yes||Primary Capital Certificates||NO||NOK||Jan 1995|
|SPIZ.F||OTCPK (Pink Sheets LLC)||Yes||Primary Capital Certificates||US||USD||Jan 1995|
|0G67||LSE (London Stock Exchange)||Yes||Primary Capital Certificates||GB||NOK||Jan 1995|
|SVEGO||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Primary Capital Certificates||GB||NOK||Jan 1995|
|SVEG58||OB (Oslo Bors)||8.05%-VAR SUB BDS PERP NOK500000||NO||NOK||Jun 2010|
Sparebanken Vest, a financial services company, provides banking and financing services in the counties of Hordaland, Rogaland, and Sogn og Fjordane, Norway. It operates through Corporate Market, Retail Market, Treasury, and Estate Agency Activities segments. The company is also involved in the estate agency and home mortgages activities. As of December 31, 2018, it had 33 points of sale outlets. The company was founded in 1823 and is headquartered in Bergen, Norway.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/30 20:44|
|End of Day Share Price||2020/03/30 00:00|
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.