OTCPK:MDRD.F

Stock Analysis Report

Executive Summary

Sbanken ASA, a digital bank that provides various banking products to retail customers through its banking platform in Norway.

Snowflake

Fundamentals

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

OTCPK:MDRD.F

0.3%

US Banks

0.9%

US Market


1 Year Return

n/a

OTCPK:MDRD.F

-13.6%

US Banks

0.3%

US Market

No trading data on MDRD.F.

No trading data on MDRD.F.


Share holder returns

MDRD.FIndustryMarket
7 Day0%0.3%0.9%
30 Day0%-5.1%-1.9%
90 Dayn/a-3.5%1.6%
1 Yearn/a-11.2%-13.6%2.6%0.3%
3 Year13.6%13.6%43.6%33.7%41.0%31.8%
5 Yearn/a53.7%37.0%55.2%38.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Sbanken undervalued based on future cash flows and its price relative to the stock market?

10.72x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Sbanken's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Sbanken's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Sbanken is good value based on earnings compared to the US Banks industry average.

Sbanken is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Sbanken is poor value based on expected growth next year.


Price Based on Value of Assets

Sbanken is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is Sbanken expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Sbanken's revenue is expected to grow by 9.1% yearly, however this is not considered high growth (20% yearly).

Sbanken's earnings are expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).

Sbanken's revenue growth is expected to exceed the United States of America market average.

Sbanken's earnings growth is positive but not above the United States of America market average.

Sbanken's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Sbanken is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Sbanken performed over the past 5 years?

15.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Sbanken's year on year earnings growth rate has been positive over the past 5 years.

Sbanken's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Sbanken's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.


Return on Equity

Sbanken has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Sbanken used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Sbanken improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Sbanken'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

Information is not available.

Information is not available.


Financial Institutions Analysis

Sbanken has an acceptable proportion of non-loan assets held.

Sbanken has a low allowance for bad loans.

Sbanken's liabilities are made up of primarily low risk sources of funding.

Sbanken's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Sbanken has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).

Sbanken has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is Sbanken's current dividend yield, its reliability and sustainability?

3.54%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Sbanken's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Sbanken's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).

Sbanken has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but Sbanken only paid a dividend in the past 3 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Magnar Øyhovden (51yo)

9.6yrs

Tenure

kr3,804,000

Compensation

Mr. Magnar Erik Øyhovden has been Chief Executive Officer of Skandiabanken ASA since 2010. Mr. Øyhovden joined the Bank in 2006, and was promoted to Managing Director in 2010. He has nine years tenure in t ...


CEO Compensation Analysis

Magnar's remuneration is lower than average for companies of similar size in United States of America.

Magnar's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

3.8yrs

Average Tenure

50.5yo

Average Age

The tenure for the Sbanken management team is about average.


Board Age and Tenure

3.5yrs

Average Tenure

55.5yo

Average Age

The tenure for the Sbanken board of directors is about average.


Insider Trading

More shares have been bought than sold by Sbanken individual insiders in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

Buykr6,42029 May 19
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares800
Max Pricekr8.03
Buykr5,39922 May 19
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares650
Max Pricekr8.31
Buykr11,57325 Feb 19
Henning Nordgulen
EntityIndividual
Role
Chief Financial Officer
CFO & Deputy CEO
Shares1,265
Max Pricekr9.15
Buykr3,40325 Feb 19
Atle Tidemann
EntityIndividual
Role
Senior Key Executive
Head of Organisation
Shares372
Max Pricekr9.15
Buykr2,90025 Feb 19
Mari Rørvik
EntityIndividual
Shares317
Max Pricekr9.15
Buykr86925 Feb 19
Christoffer Hernæs
EntityIndividual
Role
Senior Key Executive
Chief Digital Officer
Shares95
Max Pricekr9.15
Buykr14,51825 Feb 19
Magnar Øyhovden
EntityIndividual
Role
Chief Executive Officer
Chief Executive Officer
Shares1,587
Max Pricekr9.15
Buykr5,83721 Dec 18
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares670
Max Pricekr8.71
Buykr5,81120 Dec 18
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares660
Max Pricekr8.80
Buykr1,74412 Dec 18
Atle Tidemann
EntityIndividual
Role
Senior Key Executive
Head of Organisation
Shares185
Max Pricekr9.43
Buykr1,74412 Dec 18
Eirik Christensen
EntityIndividual
Role
Senior Key Executive
Chief Risk Officer
Shares185
Max Pricekr9.43
Buykr11,46422 Nov 18
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares1,250
Max Pricekr9.17
Buykr11,47621 Nov 18
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares1,250
Max Pricekr9.18
Buykr11,61320 Nov 18
Lars Midby
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares1,250
Max Pricekr9.29

Ownership Breakdown


Management Team

  • Henning Nordgulen (54yo)

    CFO & Deputy CEO

    • Tenure: 4.0yrs
    • Compensation: kr2.71m
  • Arlin Mæland

    Chief Compliance Officer

    • Tenure: 0.0yrs
  • Magnar Øyhovden (51yo)

    Chief Executive Officer

    • Tenure: 9.6yrs
    • Compensation: kr3.80m
  • Eirik Christensen (41yo)

    Chief Risk Officer

    • Tenure: 3.8yrs
    • Compensation: kr1.85m
  • Geir Hansen (53yo)

    Head of Strategy

    • Tenure: 9.6yrs
    • Compensation: kr2.28m
  • Anne-Christine Fiksdal (46yo)

    Chief Operating Officer

    • Tenure: 1.6yrs
    • Compensation: kr2.05m
  • Christoffer Hernæs (38yo)

    Chief Digital Officer

    • Tenure: 2.6yrs
    • Compensation: kr2.18m
  • Svein Frøystad (54yo)

    Head of IT Governance & Employee Representative Director

    • Tenure: 1.6yrs
  • Atle Tidemann (50yo)

    Head of Organisation

    • Tenure: 1.0yrs
    • Compensation: kr1.68m
  • Ann Lerstad

    Head of Legal

    • Tenure: 0.0yrs

Board Members

  • Hugo Maurstad (54yo)

    Director

    • Tenure: 3.2yrs
    • Compensation: kr332.00k
  • Ragnhild Wiborg (58yo)

    Director

    • Tenure: 3.9yrs
    • Compensation: kr591.00k
  • August Johan Baumann (53yo)

    Director

    • Tenure: 4.0yrs
    • Compensation: kr557.00k
  • Mai-Lill Ibsen (64yo)

    Director

    • Tenure: 4.0yrs
    • Compensation: kr672.00k
  • Cathrine Klouman (57yo)

    Director

    • Tenure: 1.6yrs
    • Compensation: kr233.00k
  • Karianne Mjøs-Haugland (43yo)

    Employee Representative Director

    • Tenure: 1.6yrs
  • Lars Midby (60yo)

    Chairman of the Board

    • Tenure: 4.6yrs
    • Compensation: kr731.00k
  • Svein Frøystad (54yo)

    Head of IT Governance & Employee Representative Director

    • Tenure: 1.6yrs

Company Information

Sbanken ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sbanken ASA
  • Ticker: MDRD.F
  • Exchange: OTCPK
  • Founded: 2000
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr6.957b
  • Listing Market Cap: kr775.594m
  • Shares outstanding: 106.87m
  • Website: https://sbanken.no

Number of Employees


Location

  • Sbanken ASA
  • Folke Bernadottesvei 38
  • Bergen
  • Hordaland
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBANKOB (Oslo Bors)YesRegistered SharesNONOKNov 2015
7SBDB (Deutsche Boerse AG)YesRegistered SharesDEEURNov 2015
MDRD.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDNov 2015
0RD6LSE (London Stock Exchange)YesRegistered SharesGBNOKNov 2015

Biography

Sbanken ASA, a digital bank that provides various banking products to retail customers through its banking platform in Norway. It offers deposit products, such as security deposit accounts and home savings ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 00:42
End of Day Share Price2019/07/16 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.