OB:SVEG

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Sparebanken Vest

Executive Summary

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


Snowflake Analysis

Solid track record with adequate balance sheet 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 +/- 4% a week.

Volatility Over Time: SVEG's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

0%

SVEG

-1.8%

NO Banks

0.1%

NO Market


1 Year Return

12.3%

SVEG

1.5%

NO Banks

-0.7%

NO Market

Return vs Industry: SVEG exceeded the Norwegian Banks industry which returned 3% over the past year.

Return vs Market: SVEG exceeded the Norwegian Market which returned 0.4% over the past year.


Shareholder returns

SVEGIndustryMarket
7 Day0%-1.8%0.1%
30 Day9.3%18.2%12.7%
90 Day6.0%14.0%8.8%
1 Year18.4%12.3%2.6%1.5%2.9%-0.7%
3 Year52.7%29.2%18.1%6.7%10.3%-2.1%
5 Year151.7%89.8%85.2%53.2%57.9%26.7%

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?

10.98x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SVEG (NOK68.5) is trading above our estimate of fair value (NOK50.89)

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 (11x) compared to the NO Banks industry average (9.5x).

PE vs Market: SVEG is good value based on its PE Ratio (11x) compared to the Norwegian market (15.3x).


Price to Earnings Growth Ratio

PEG Ratio: SVEG is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: SVEG's PB Ratio (0.4x) is in line with the NO Banks industry average.


Next Steps

Future Growth

How is Sparebanken Vest forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

18.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SVEG's forecast earnings growth (18.4% per year) is above the savings rate (1.6%).

Earnings vs Market: SVEG's earnings (18.4% per year) are forecast to grow slower than the Norwegian market (33.8% per year).

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

Revenue vs Market: SVEG's revenue (8% per year) is forecast to grow faster than the Norwegian market (6.3% per year).

High Growth Revenue: SVEG's revenue (8% 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 (10.9%).


Next Steps

Past Performance

How has Sparebanken Vest performed over the past 5 years?

24.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SVEG has high quality earnings.

Growing Profit Margin: SVEG's current net profit margins (17.8%) are higher than last year (10.8%).


Past Earnings Growth Analysis

Earnings Trend: SVEG has become profitable over the past 5 years, growing earnings by 24.7% per year.

Accelerating Growth: SVEG's earnings growth over the past year (48%) exceeds its 5-year average (24.7% per year).

Earnings vs Industry: SVEG earnings growth over the past year (48%) exceeded the Banks industry -8.2%.


Return on Equity

High ROE: SVEG's Return on Equity (9.9%) is considered low.


Next Steps

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 (12.7x) is moderate.

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

Low Risk Liabilities: 60% 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 (81%).

Low Risk Deposits: SVEG's Loans to Deposits ratio (217%) is high.

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


Next Steps

Dividend

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

3.53%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SVEG's dividend (3.53%) is higher than the bottom 25% of dividend payers in the Norwegian market (2.5%).

High Dividend: SVEG's dividend (3.53%) is low compared to the top 25% of dividend payers in the Norwegian market (5.88%).


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 (38.8%), 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 (46.5% payout ratio).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Jan Kjerpeseth (49 yo)

7.17yrs

Tenure

kr6,863,000

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 ($USD778.27K) is above average for companies of similar size in the Norwegian market ($USD536.77K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Jan Kjerpeseth
MD & CEO7.17yrskr6.86m0.13%
NOK 9.7m
Frank Johannesen
Executive VP & CFO1.25yrskr3.39m0.069%
NOK 5.1m
Siren Sundland
Executive VP & Head of Operational Services5yrskr3.12m0.065%
NOK 4.8m
Bjørg Eknes
Executive VP3.83yrskr2.98m0.062%
NOK 4.6m
Ragnhild Fresvik
Executive VP & Head of Corporate Market7.08yrskr3.82m0.043%
NOK 3.2m
Tina Ødegård
Executive VP and Head of Organization & Development3.25yrskr2.50m0.026%
NOK 1.9m
Jan-Ståle Hatlebakk
Executive VP & Chief Risk Officer1.25yrskr1.96m0.021%
NOK 1.6m
Terje Mjelde
Head of Management Accountingno datano datano data
Lars Breivik
Chief Information Officer & Head of Communicationno datano data0.0021%
NOK 153.6k
Hans Ingdal
Director of Finance & Investor Relationsno datano data0.0044%
NOK 327.1k
Monica Døsvig
Head of Legalno datano data0.0031%
NOK 230.1k
Nina Nordby
Executive Vice President of Innovation and Customer Experienceno datakr1.17mno data

3.8yrs

Average Tenure

49yo

Average Age

Experienced Management: SVEG's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Magne Morken
Independent Deputy Chairman1.33yrskr272.43k0.0084%
NOK 616.0k
Waageingri Waage
Member of Supervisory Boardno datano datano data
Arild Bødal
Independent Chairman of the Board1.75yrskr435.55k0.055%
NOK 4.1m
Anne-Marit Hope
Employee Representative Board Member10.67yrskr201.15k0.0078%
NOK 570.5k
Kristin Axelsen
Employee Representative Board Member7.67yrskr193.75k0.0050%
NOK 366.1k
Birthe Lange
Independent Director8.67yrskr219.35k0.00027%
NOK 19.8k
Borghild Ones
Chair of Supervisory Board5.92yrsno datano data
Gunnar Skeie
Independent Director4.75yrskr260.35k0.010%
NOK 738.1k
Marianne Dorthea Jacobsen
Independent Director3.75yrskr201.15k0.00027%
NOK 19.8k
Agnethe Brekke
Independent Director1.33yrskr81.40k0.00054%
NOK 39.7k
Christine Helgø
Director0.75yrkr10.13kno data
Henrik Gundersen
Director0.75yrno data0.00087%
NOK 64.0k

3.8yrs

Average Tenure

53yo

Average Age

Experienced Board: SVEG's board of directors are considered experienced (3.8 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 been substantially diluted in the past year, with total shares outstanding growing by 78.3%.


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: kr7.351b
  • Shares outstanding: 107.32m
  • Website: https://www.spv.no

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SVEGOB (Oslo Bors)YesPrimary Capital CertificatesNONOKJan 1995
SPIZ.FOTCPK (Pink Sheets LLC)YesPrimary Capital CertificatesUSUSDJan 1995
0G67LSE (London Stock Exchange)YesPrimary Capital CertificatesGBNOKJan 1995
SVEGOBATS-CHIXE (BATS 'Chi-X Europe')YesPrimary Capital CertificatesGBNOKJan 1995

Biography

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 Ma...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/02 17:20
End of Day Share Price2020/12/01 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.