OTCPK:BNDS.F

Stock Analysis Report

Executive Summary

Banco de Sabadell, S.A. provides personal, business, and private banking services in Spain and internationally.

Snowflake

Fundamentals

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has Banco de Sabadell's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

BNDS.F

3.7%

US Banks

1.8%

US Market


1 Year Return

-32.0%

BNDS.F

1.9%

US Banks

7.3%

US Market

Return vs Industry: BNDS.F underperformed the US Banks industry which returned 1.9% over the past year.

Return vs Market: BNDS.F underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

BNDS.FIndustryMarket
7 Day0%3.7%1.8%
30 Day10.6%0.2%-0.7%
90 Day-10.3%2.5%0.06%
1 Year-32.0%-32.0%4.9%1.9%9.7%7.3%
3 Yearn/a51.7%41.2%46.3%36.9%
5 Yearn/a69.7%51.2%64.5%46.5%

Price Volatility Vs. Market

How volatile is Banco de Sabadell's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Banco de Sabadell undervalued compared to its fair value and its price relative to the market?

8.2x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: BNDS.F ($0.95) is trading above our estimate of fair value ($0.74)

Significantly Undervalued: BNDS.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BNDS.F is good value based on its PE Ratio (8.2x) compared to the Banks industry average (12.6x).

PE vs Market: BNDS.F is good value based on its PE Ratio (8.2x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BNDS.F is good value based on its PB Ratio (0.4x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Banco de Sabadell forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

-2.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BNDS.F's earnings are forecast to decline over the next 3 years (-2.6% per year).

Earnings vs Market: BNDS.F's earnings are forecast to decline over the next 3 years (-2.6% per year).

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

Revenue vs Market: BNDS.F's revenue (0.8% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: BNDS.F's revenue (0.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: BNDS.F's Return on Equity is forecast to be low in 3 years time (5.7%).


Next Steps

Past Performance

How has Banco de Sabadell performed over the past 5 years?

3.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BNDS.F's earnings have grown by 3% per year over the past 5 years.

Accelerating Growth: BNDS.F's earnings growth over the past year (53.6%) exceeds its 5-year average (3% per year).

Earnings vs Industry: BNDS.F earnings growth over the past year (53.6%) exceeded the Banks industry 30.5%.


Return on Equity

High ROE: BNDS.F's Return on Equity (5.9%) is considered low.


Return on Assets

ROA vs Industry: BNDS.F's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Banco de Sabadell'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: BNDS.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: BNDS.F's debt is not covered by short term assets (assets are 0.8x debt).


Financial Institutions Analysis

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

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

Low Risk Liabilities: BNDS.F's liabilities are made up of primarily low risk sources of funding.

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

Low Risk Deposits: BNDS.F's loans are broadly funded by customer deposits.

Level of Bad Loans: BNDS.F has a high level of bad loans (3.96%)


Next Steps

Dividend

What is Banco de Sabadell's current dividend yield, its reliability and sustainability?

2.95%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.5%markettop25%3.7%industryaverage3.0%forecastin3Years5.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BNDS.F's dividend (2.95%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: BNDS.F's dividend (2.95%) is low compared to the top 25% of dividend payers in the US market (3.72%).

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

Growing Dividend: BNDS.F's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (8.1%), BNDS.F's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BNDS.F's dividends in 3 years are forecast to be well covered by earnings (46.2% payout ratio).


Next Steps

Management

What is the CEO of Banco de Sabadell's salary, the management and board of directors tenure and is there insider trading?

1.3yrs

Average management tenure


CEO

Jaime Guardiola Romojaro (62yo)

12.1yrs

Tenure

€100,000

Compensation

Mr. Jaime Guardiola Romojaro has been an Executive Director of Banco de Sabadell SA since September 27, 2007. Mr. Guardiola Romojaro serves as a Managing Manager at Banco de Sabadell SA since September 201 ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Jaime's total compensation is reasonable compared to companies of similar size in the US market.

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


Management Age and Tenure

1.3yrs

Average Tenure

54.5yo

Average Age

Experienced Management: BNDS.F's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Age and Tenure

4.8yrs

Average Tenure

58.5yo

Average Age

Experienced Board: BNDS.F's board of directors are considered experienced (4.8 years average tenure).


Insider Trading

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


Recent Insider Transactions

Buy€51,68908 Aug 19
David Vegara Figueras
EntityIndividual
Role
Member of the Board of Directors
GM, CRO & Executive Director
Shares60,000
Max Price€0.86
Buy€22,551,26418 Feb 19
David Manuel Martínez Guzmán
EntityIndividual
Shares22,000,000
Max Price€1.06
Buy€109,15907 Feb 19
Manuel Valls Morató
EntityIndividual
Shares110,000
Max Price€0.99
Buy€29,93020 Dec 18
David Vegara Figueras
EntityIndividual
Role
Member of the Board of Directors
GM, CRO & Executive Director
Shares25,000
Max Price€1.20

Ownership Breakdown


Management Team

  • Jaime Guardiola Romojaro (62yo)

    CEO, MD & Executive Director

    • Tenure: 12.1yrs
    • Compensation: €100.00k
  • José Nieto de la Cierva (55yo)

    Deputy General Manager of Corporate & Investment Banking

    • Tenure: 1.6yrs
  • Tomás Varela Muiña

    General Manager & CFO

    • Tenure: 0yrs
  • María José García Beato (54yo)

    General Secretary & Executive Director

    • Tenure: 1.4yrs
    • Compensation: €34.00k
  • Gonzalo Barettino Coloma

    Assistant General Manager of Legal

    • Tenure: 0yrs
  • Federico Rodríguez Castillo

    Assistant General Manager of Compliance

    • Tenure: 1.4yrs
  • Alfonso Calle

    Assistant General Manager of Technology Innovation

    • Tenure: 0.8yrs
  • Miquel Montes Güell

    COO, Corporate Development Director and GM of Operations & People

    • Tenure: 0yrs
  • David Vegara Figueras (53yo)

    GM, CRO & Executive Director

    • Tenure: 4.4yrs
    • Compensation: €170.00k
  • Cecilia Romero

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • José Javier Echenique Landiribar (68yo)

    Independent Vice Chairman of the Board

    • Tenure: 8.9yrs
    • Compensation: €205.00k
  • Fernando Pérez-Hickman Muñoz (52yo)

    General Manager

    • Tenure: 0yrs
  • Jaime Guardiola Romojaro (62yo)

    CEO, MD & Executive Director

    • Tenure: 12.1yrs
    • Compensation: €100.00k
  • Pascal Poupelle (64yo)

    Chairman of Dexia Sabadell

    • Tenure: 0yrs
  • Francisco Vallejo López (74yo)

    Chairman of Banco Urquijo

    • Tenure: 0yrs
  • Josep Tarrés i Busquets

    Chairman of Solvia

    • Tenure: 0yrs
  • María José García Beato (54yo)

    General Secretary & Executive Director

    • Tenure: 1.4yrs
    • Compensation: €34.00k
  • Jochen Schwarz

    Chairman of BanSabadell Vida

    • Tenure: 0yrs
  • Aurora Catá Sala (55yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: €160.00k
  • David Vegara Figueras (53yo)

    GM, CRO & Executive Director

    • Tenure: 4.4yrs
    • Compensation: €170.00k

Company Information

Banco de Sabadell, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banco de Sabadell, S.A.
  • Ticker: BNDS.F
  • Exchange: OTCPK
  • Founded: 1881
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €5.635b
  • Listing Market Cap: €6.267b
  • Shares outstanding: 5.54b
  • Website: https://www.bancsabadell.com

Number of Employees


Location

  • Banco de Sabadell, S.A.
  • Torre Banco Sabadell
  • Av. Diagonal, 407 bis
  • Alicante
  • 8008
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BNDS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 2001
SABBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURApr 2001
0H00LSE (London Stock Exchange)YesOrdinary SharesGBEURApr 2001
BDSBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2001
SABEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 2001
SABWBAG (Wiener Boerse AG)YesOrdinary SharesATEURApr 2001
BNDS.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2008

Biography

Banco de Sabadell, S.A. provides personal, business, and private banking services in Spain and internationally. The company offers various accounts; deposits and long-term saving plans; cards; investments  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 23:46
End of Day Share Price2019/10/02 00:00
Earnings2019/06/30
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.