OTCPK:DNSK.F

Stock Analysis Report

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Executive Summary

Danske Bank A/S provides various banking products and services to small and medium-sized businesses; and corporate, institutional, and personal customers.


Snowflake Analysis

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has Danske Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DNSK.F's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

1.6%

DNSK.F

3.1%

US Banks

0.5%

US Market


1 Year Return

19.5%

DNSK.F

-15.2%

US Banks

18.7%

US Market

Return vs Industry: DNSK.F exceeded the US Banks industry which returned -15.2% over the past year.

Return vs Market: DNSK.F matched the US Market which returned 18.7% over the past year.


Shareholder returns

DNSK.FIndustryMarket
7 Day1.6%3.1%0.5%
30 Day6.1%5.7%4.9%
90 Day55.6%20.1%19.8%
1 Year19.5%19.5%-12.2%-15.2%21.2%18.7%
3 Year-58.5%-58.5%-7.2%-14.8%46.2%36.8%
5 Year-45.4%-45.4%20.9%6.0%85.3%65.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Danske Bank undervalued compared to its fair value and its price relative to the market?

10.9x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: DNSK.F ($16.26) is trading above our estimate of fair value ($9.72)

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


Price To Earnings Ratio

PE vs Industry: DNSK.F is poor value based on its PE Ratio (10.9x) compared to the US Banks industry average (10x).

PE vs Market: DNSK.F is good value based on its PE Ratio (10.9x) compared to the US market (19.1x).


Price to Earnings Growth Ratio

PEG Ratio: DNSK.F is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: DNSK.F is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Danske Bank forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

35.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DNSK.F's forecast earnings growth (35.1% per year) is above the savings rate (2.2%).

Earnings vs Market: DNSK.F's earnings (35.1% per year) are forecast to grow faster than the US market (24.1% per year).

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

Revenue vs Market: DNSK.F's revenue (2% per year) is forecast to grow slower than the US market (9.5% per year).

High Growth Revenue: DNSK.F's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DNSK.F's Return on Equity is forecast to be low in 3 years time (7.2%).


Next Steps

Past Performance

How has Danske Bank performed over the past 5 years?

1.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DNSK.F has a large one-off loss of DKK3.3B impacting its June 30 2020 financial results.

Growing Profit Margin: DNSK.F's current net profit margins (20%) are lower than last year (27.2%).


Past Earnings Growth Analysis

Earnings Trend: DNSK.F's earnings have grown by 1.1% per year over the past 5 years.

Accelerating Growth: DNSK.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: DNSK.F had negative earnings growth (-31.5%) over the past year, making it difficult to compare to the Banks industry average (-2.9%).


Return on Equity

High ROE: DNSK.F's Return on Equity (5.5%) is considered low.


Next Steps

Financial Health

How is Danske 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


Financial Institutions Analysis

Asset Level: DNSK.F's Assets to Equity ratio (24.7x) is very high.

Allowance for Bad Loans: DNSK.F has a low allowance for bad loans (72%).

Low Risk Liabilities: 67% of DNSK.F's liabilities are made up of primarily higher risk sources of funding.

Loan Level: DNSK.F has an appropriate level of Loans to Assets ratio (52%).

Low Risk Deposits: DNSK.F's Loans to Deposits ratio (164%) is high.

Level of Bad Loans: DNSK.F has an appropriate level of bad loans (1.7%).


Next Steps

Dividend

What is Danske Bank current dividend yield, its reliability and sustainability?

7.98%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: DNSK.F's dividend (7.98%) is higher than the bottom 25% of dividend payers in the US market (1.59%).

High Dividend: DNSK.F's dividend (7.98%) is in the top 25% of dividend payers in the US market (4.31%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, DNSK.F has been paying a dividend for less than 10 years.

Growing Dividend: DNSK.F's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (87%), DNSK.F's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DNSK.F's dividends in 3 years are forecast to be covered by earnings (50.3% payout ratio).


Next Steps

Management

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

1.5yrs

Average management tenure


CEO

Chris F. H. Vogelzang (58 yo)

1.17yrs

Tenure

kr.21,800,000

Compensation

Mr. Chris F. H. H. Vogelzang has been Chief Executive Officer of Danske Bank since September 5, 2019 and has been the Member of the Executive Leadership team at Danske Bank A/S since June 01, 2019. He serv ...


CEO Compensation Analysis

Compensation vs Market: Chris F. H.'s total compensation ($USD3.46M) is below average for companies of similar size in the US market ($USD11.30M).

Compensation vs Earnings: Insufficient data to compare Chris F. H.'s compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Chris F. H. Vogelzang
CEO & Member of the Executive Leadership team1.17yrskr.21.80m0.0052%
DKK 749.9k
Glenn Söderholm
Head of Banking Nordic6.75yrskr.10.80m0.0041%
DKK 587.0k
Jakob Groot
Head of Corporates & Institutions and Member of Executive Leadership Team2.25yrskr.8.80m0.0039%
DKK 563.9k
Berit Behring
Head of Wealth Management & Member of Executive Leadership Team0.92yrkr.2.90m0.00090%
DKK 129.8k
Carsten Egeriis
Chief Risk Officer & Member of Executive Leadership Team3yrskr.9.80m0.00016%
DKK 23.1k
Philippe Vollot
Member of Executive Leadership Team & Chief Compliance Officer1.75yrskr.11.80mno data
Stephan Engels
CFO & Member of Executive Leadership Team0.33yrno datano data
Frans Woelders
Group COO & Member of the Executive Leadership Team0.42yrno datano data
Mikael Deigaard
Global Chief Investment Officer0.50yrno datano data
Claus Jensen
Head of Investor Relationsno datano datano data
Hans Moerk
Head of Danske Bank Division16.58yrsno datano data
Frederik Reumert
Chief Governance Officerno datano datano data

1.5yrs

Average Tenure

54yo

Average Age

Experienced Management: DNSK.F's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Mads Jacobsen
Senior EVP & Chairman of Board of Directors of Baltic Unitsno datano datano data
Lars Kolind
Member of Advisory Board25.58yrsno datano data
Sten Scheibye
Member of Advisory Boardno datano datano data
Birgit Aagaard-Svendsen
Member of Advisory Boardno datano datano data
Trond Westlie
Member of Advisory Boardno datano datano data
Carol Sergeant
Independent Vice Chairman of the Board2.42yrsno data0.00082%
DKK 118.3k
Lars-Erik Brenøe
Non-Independent Director4.42yrsno data0.0027%
DKK 390.8k
Jan Nielsen
Vice Chairman of the Board1.67yrsno data0.0012%
DKK 178.8k
Charlotte Hoffmann
Employee Director14.42yrsno data0.00038%
DKK 54.8k
Gert Kjeldsen
Member of Advisory Boardno datano datano data
R. Lindeløv
Member of Advisory Boardno datano datano data
Karsten Dybvad
Independent Chairman of the Board1.67yrsno data0.0013%
DKK 190.4k

3.4yrs

Average Tenure

64yo

Average Age

Experienced Board: DNSK.F's board of directors are considered experienced (3.4 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

Danske Bank A/S's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Danske Bank A/S
  • Ticker: DNSK.F
  • Exchange: OTCPK
  • Founded: 1871
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr.90.802b
  • Listing Market Cap: kr.14.422b
  • Shares outstanding: 852.60m
  • Website: https://www.danskebank.com

Number of Employees


Location

  • Danske Bank A/S
  • Holmens Kanal 2-12
  • Copenhagen
  • Capital Region of Denmark
  • 1092
  • Denmark

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DNSK.FOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDJan 1992
DANSKECPSE (OMX Nordic Exchange Copenhagen)YesShare CapitalDKDKKJan 1992
DSNDB (Deutsche Boerse AG)YesShare CapitalDEEURJan 1992
0NVCLSE (London Stock Exchange)YesShare CapitalGBDKKJan 1992
DANSKCBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBDKKJan 1992
DANSWBAG (Wiener Boerse AG)YesShare CapitalATEURJan 1992
DANSKE NBMV (Bolsa Mexicana de Valores)YesShare CapitalMXMXNJan 1992
DNKE.YOTCPK (Pink Sheets LLC)ADRUSUSDFeb 2016

Biography

Danske Bank A/S provides various banking products and services to small and medium-sized businesses; and corporate, institutional, and personal customers. It operates through Banking DK, Banking Nordic, Co ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 12:23
End of Day Share Price2020/08/10 00:00
Earnings2020/06/30
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.