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Grong Sparebank

OB:GRONG-ME
Snowflake Description

Undervalued with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GRONG-ME
OB
NOK309M
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

Grong Sparebank, an independent savings bank, provides a range of banking products and services in Norway. The last earnings update was 36 days ago. More info.


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GRONG-ME Share Price and Events
7 Day Returns
-1%
OB:GRONG-ME
2.8%
NO Banks
1.6%
NO Market
1 Year Returns
0%
OB:GRONG-ME
-5.9%
NO Banks
-8.3%
NO Market
GRONG-ME Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Grong Sparebank (GRONG-ME) -1% -1% -1% 0% - -
NO Banks 2.8% 5.6% 2.1% -5.9% 50.5% 39.2%
NO Market 1.6% 7.6% 2.7% -8.3% 31.1% 16.1%
1 Year Return vs Industry and Market
  • GRONG-ME outperformed the Banks industry which returned -5.9% over the past year.
  • GRONG-ME outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
GRONG-ME
Industry
5yr Volatility vs Market

GRONG-ME Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Grong Sparebank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Grong Sparebank.

OB:GRONG-ME Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NOK242.99 * 8.2%
NOK19.84
Book Value of Equity per Share Median Book Value from the past 5 years. NOK242.99
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OB:GRONG-ME
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.604 (1 + (1- 23%) (397.74%))
1.25
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.25 * 5.96%)
9.21%

Discounted Cash Flow Calculation for OB:GRONG-ME using Excess Returns Model Model

The calculations below outline how an intrinsic value for Grong Sparebank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OB:GRONG-ME Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.2% – 9.21%) * NOK242.99)
NOK-2.54
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-2.54 / (9.21% - 1.76%)
NOK-34.05
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK242.99 + NOK-34.05
NOK208.93
OB:GRONG-ME Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK208.93
Current discount Discount to share price of NOK104.00
= -1 x (NOK104.00 - NOK208.93) / NOK208.93
50.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Grong Sparebank is available for.
Intrinsic value
>50%
Share price is NOK104 vs Future cash flow value of NOK208.93
Current Discount Checks
For Grong Sparebank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Grong Sparebank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Grong Sparebank's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Grong Sparebank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Grong Sparebank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:GRONG-ME PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK17.51
OB:GRONG-ME Share Price ** OB (2019-09-19) in NOK NOK104
Norway Banks Industry PE Ratio Median Figure of 35 Publicly-Listed Banks Companies 7.93x
Norway Market PE Ratio Median Figure of 149 Publicly-Listed Companies 13.35x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Grong Sparebank.

OB:GRONG-ME PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:GRONG-ME Share Price ÷ EPS (both in NOK)

= 104 ÷ 17.51

5.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Grong Sparebank is good value based on earnings compared to the NO Banks industry average.
  • Grong Sparebank is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does Grong Sparebank's expected growth come at a high price?
Raw Data
OB:GRONG-ME PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.3%per year
Norway Banks Industry PEG Ratio Median Figure of 29 Publicly-Listed Banks Companies 0.63x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Grong Sparebank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Grong Sparebank's assets?
Raw Data
OB:GRONG-ME PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK230.54
OB:GRONG-ME Share Price * OB (2019-09-19) in NOK NOK104
Norway Banks Industry PB Ratio Median Figure of 35 Publicly-Listed Banks Companies 0.49x
Norway Market PB Ratio Median Figure of 239 Publicly-Listed Companies 1.12x
OB:GRONG-ME PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:GRONG-ME Share Price ÷ Book Value per Share (both in NOK)

= 104 ÷ 230.54

0.45x

* Primary Listing of Grong Sparebank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Grong Sparebank is good value based on assets compared to the NO Banks industry average.
X
Value checks
We assess Grong Sparebank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Grong Sparebank has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GRONG-ME Future Performance

 How is Grong Sparebank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Grong Sparebank, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Grong Sparebank expected to grow at an attractive rate?
  • Grong Sparebank's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Grong Sparebank's earnings growth is positive but not above the Norway market average.
  • Unable to compare Grong Sparebank's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:GRONG-ME Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:GRONG-ME Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.3%
Norway Banks Industry Earnings Growth Rate Market Cap Weighted Average 0.2%
Norway Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Norway Market Earnings Growth Rate Market Cap Weighted Average 14.8%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OB:GRONG-ME Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:GRONG-ME Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 171 52
2019-03-31 173 55
2018-12-31 170 -439 53
2018-09-30 167 52
2018-06-30 164 50
2018-03-31 160 45
2017-12-31 160 -195 46
2017-03-31 136 45
2016-12-31 130 -1,797 39

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Grong Sparebank's earnings are expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Grong Sparebank is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:GRONG-ME Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Grong Sparebank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:GRONG-ME Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 17.51
2019-03-31 21.50
2018-12-31 20.96
2018-09-30 20.39
2018-06-30 19.59
2018-03-31
2017-12-31 18.16
2017-03-31
2016-12-31 21.51

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Grong Sparebank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Grong Sparebank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Grong Sparebank has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GRONG-ME Past Performance

  How has Grong Sparebank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Grong Sparebank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Grong Sparebank's year on year earnings growth rate has been positive over the past 5 years.
  • Grong Sparebank's 1-year earnings growth is less than its 5-year average (4.8% vs 15.3%)
  • Grong Sparebank's earnings growth has not exceeded the NO Banks industry average in the past year (4.8% vs 13.3%).
Earnings and Revenue History
Grong Sparebank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Grong Sparebank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:GRONG-ME Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 170.59 52.06 92.74
2019-03-31 172.73 54.52 93.76
2018-12-31 169.56 53.14 92.37
2018-09-30 167.25 51.70 91.58
2018-06-30 164.11 49.67 92.71
2018-03-31 159.68 44.52 93.76
2017-12-31 160.25 46.04 92.92
2017-03-31 136.26 45.37 68.89
2016-12-31 129.68 38.71 69.61
2016-03-31 138.33 26.78 86.52
2015-12-31 131.42 28.02 79.62
2015-09-30 127.13 29.90 71.62
2015-06-30 119.12 29.23 65.84
2015-03-31 124.75 29.27 70.20
2014-12-31 121.15 29.31 67.07
2014-09-30 95.89 28.97 48.84
2014-06-30 91.68 28.36 45.65
2014-03-31 88.76 28.49 43.10
2013-12-31 83.77 26.34 41.64
2013-09-30 82.19 25.48 40.51
2013-06-30 78.80 24.51 38.65
2013-03-31 74.43 20.48 38.44
2012-12-31 74.79 21.43 37.19
2012-09-30 70.60 20.15 37.31

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Grong Sparebank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Grong Sparebank used its assets more efficiently than the NO Banks industry average last year based on Return on Assets.
  • Unable to establish if Grong Sparebank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Grong Sparebank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Grong Sparebank has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GRONG-ME Health

 How is Grong Sparebank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Grong Sparebank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Grong Sparebank Company Filings, last reported 2 months ago.

OB:GRONG-ME Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 685.26 1,229.55 138.86
2019-03-31 627.65 1,338.89 136.66
2018-12-31 616.11 1,324.48 280.10
2018-09-30 620.55 1,274.34 136.73
2018-06-30 608.10 1,174.39 135.11
2018-03-31 580.78 1,224.21 277.63
2017-12-31 580.78 1,224.21 277.63
2017-03-31 477.28 1,120.91 126.84
2016-12-31 477.28 1,120.91 126.84
2016-03-31 362.82 581.46 63.27
2015-12-31 357.64 581.81 234.61
2015-09-30 361.62 581.03 63.70
2015-06-30 352.21 580.77 53.16
2015-03-31 295.68 575.34 213.83
2014-12-31 295.68 575.34 213.83
2014-09-30
2014-06-30 286.32 444.44 63.03
2014-03-31 277.29 409.45 62.06
2013-12-31 270.81 499.71 109.24
2013-09-30 268.89 391.26 60.87
2013-06-30 261.96 381.09 40.55
2013-03-31 252.80 403.04 61.15
2012-12-31 248.47 431.19 116.11
2012-09-30 247.68 366.70 62.22
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Grong Sparebank has an acceptable proportion of non-loan assets held.
  • Grong Sparebank's liabilities are made up of primarily low risk sources of funding.
  • Grong Sparebank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Grong Sparebank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Grong Sparebank has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Grong Sparebank has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Grong Sparebank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Grong Sparebank has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GRONG-ME Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.73%
Current annual income from Grong Sparebank dividends.
If you bought NOK2,000 of Grong Sparebank shares you are expected to receive NOK135 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Grong Sparebank's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • Grong Sparebank's dividend is above the markets top 25% of dividend payers in Norway (6.4%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OB:GRONG-ME Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Norway Banks Industry Average Dividend Yield Market Cap Weighted Average of 29 Stocks 5.1%
Norway Market Average Dividend Yield Market Cap Weighted Average of 115 Stocks 4.4%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.5%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OB:GRONG-ME Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-03-04 7.000 6.686
2018-02-28 7.000 6.717

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Grong Sparebank has been paying a dividend for less than 10 years.
  • Grong Sparebank has only been paying a dividend for 2 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Grong Sparebank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Grong Sparebank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Grong Sparebank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Grong Sparebank has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GRONG-ME Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jon Solum
COMPENSATION NOK1,924,000
AGE 53
TENURE AS CEO 19.7 years
CEO Bio

Mr. Jon Håvard Solum has been General Manager at Grong Sparebank since 2000. Mr. Solum serves as Chairman of Nord-Trøndelag Elektrisitetsverk AS. He serves as a Member of Supervisory Board of Eika Forsikring AS and Eika Boligkreditt AS. Mr. Solum served as Member of Supervisory Board at Eika Gruppen AS.

CEO Compensation
  • Jon's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jon's remuneration is lower than average for companies of similar size in Norway.
Management Team Tenure

Average tenure of the Grong Sparebank management team in years:

8.7
Average Tenure
  • The average tenure for the Grong Sparebank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jon Solum

TITLE
General Manager
COMPENSATION
NOK2M
AGE
53
TENURE
19.7 yrs

Odd Myrvold

TITLE
Bank Chief of Corporate Market
COMPENSATION
NOK1M
TENURE
14.7 yrs

Kårhild Berg

TITLE
Bank Manager of Private Market
COMPENSATION
NOK993K

Johan Trapnes

TITLE
Finance Manager
TENURE
2.7 yrs

Ann Klinkenberg

TITLE
Head of Department Customer Service & Digital

Fredrik Hagen

TITLE
Head of Department Mosjøen

Torgeir Hanssen

TITLE
Head of Division Namsos

Endre Skjervø

TITLE
Manager of Bank Operations & Deputy Chairman
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure of the Grong Sparebank board of directors in years:

1.5
Average Tenure
  • The average tenure for the Grong Sparebank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Audun Veium

TITLE
Chairman of the Board
TENURE
12.7 yrs

Jonny Melting

TITLE
Vice Chairman
COMPENSATION
NOK115K

Jarle Rasmussen

TITLE
Director
COMPENSATION
NOK137K

Heidi Wang

TITLE
Director
COMPENSATION
NOK71K

May Båtstrand

TITLE
Employee Representative Director
COMPENSATION
NOK66K

Jo Aunet

TITLE
Employee Representative Director
TENURE
1.5 yrs

Renathe Nilsen

TITLE
Director
TENURE
1.5 yrs

Christoffer Petersen

TITLE
Board Member

Arnt Goatbakk

TITLE
Deputy Director
COMPENSATION
NOK46K
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
X
Management checks
We assess Grong Sparebank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Grong Sparebank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GRONG-ME News

Simply Wall St News

Three Things You Should Check Before Buying Grong Sparebank (OB:GRONG-ME) For Its Dividend

Dividend paying stocks like Grong Sparebank (OB:GRONG-ME) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … This company has been paying a dividend for less than 2 years, which we think is too soon to consider it a reliable dividend stock. … Unfortunately, there hasn't been any earnings growth, and the company's dividend history has been too short for us to evaluate the consistency of the dividend.

Simply Wall St -

Financial Metrics For Grong Sparebank (OB:GRONG-ME)

As a small-cap finance stock with a market capitalisation of øre264m, the risk and profitability of Grong Sparebank (OB:GRONG-ME) are largely tied to the underlying economic growth of the region it operates in NO. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels. … Sufficient liquidity and low levels of leverage could place the bank in a safe place in case of unexpected macro headwinds.

Simply Wall St -

Can We See Significant Insider Ownership On The Grong Sparebank (OB:GRONG-ME) Share Register?

Generally speaking, as a company grows, institutions will increase their ownership. … Conversely, insiders often decrease their ownership over time. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Did Grong Sparebank (OB:GRONG-ME) Create Value For Investors Over The Past Year?

Check out our latest analysis for Grongrebank What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … ROE can be broken down into three different ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity OB:GRONG-ME Last Perf May 6th 18 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

GRONG-ME Company Info

Description

Grong Sparebank, an independent savings bank, provides a range of banking products and services in Norway. It offers payment and card services, credits, VIPPS, and mobile and online banking services; children, auto, death fall, health, building, holiday home, property, income, critical illness, disability, UNG, and other insurance, as well as health policies; car loans, mortgages, loans to other vehicles, and loans and refinancing; and savings and pensions, including share savings accounts, bank and fund savings, BSU, IPS, retirement savings and pensions, and investor services to private customers. The company also provides payment solutions and bank cards, net and mobile banking, billing solutions, and payment terminals; financing solutions, such as bank guarantees, construction loans, overdrafts, leasing, and corporate loans; liability, customer's, cyber, farmhouse agriculture, operating equipment and crop, property, health, landlord, craft, commercial, personal, travel, big car, goods during transport, and occupational injuries insurance, as well as home insurance agriculture solutions; other accounts; and savings and pensions, such as deposit and retirement pensions to small business customers in construction, property, trade and services, and agriculture industries. Grong Sparebank was founded in 1862 and is headquartered in Grong, Norway with branches in Snåsa, Lierne, Mosjøen, Namsos, Steinkjer, and Rørvik.

Details
Name: Grong Sparebank
GRONG-ME
Exchange: OB
Founded: 1862
NOK309,137,400
2,972,475
Website: http://www.grong-sparebank.no
Address: Grong Sparebank
Sundspetvegen 2,
Grong,
Nord-Trøndelag, 7870,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB GRONG-ME Share Capital Oslo Bors NO NOK 14. Jun 2017
Number of employees
Current staff
Staff numbers
0
Grong Sparebank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 21:53
End of day share price update: 2019/09/19 00:00
Last earnings filing: 2019/08/14
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.