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Jaeren Sparebank

OB:JAEREN
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JAEREN
OB
NOK663M
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

Jaeren Sparebank provides various banking products and services for individuals and businesses in Norway. The last earnings update was 35 days ago. More info.


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JAEREN Share Price and Events
7 Day Returns
1.5%
OB:JAEREN
2.8%
NO Banks
1.6%
NO Market
1 Year Returns
1.5%
OB:JAEREN
-5.9%
NO Banks
-8.3%
NO Market
JAEREN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Jaeren Sparebank (JAEREN) 1.5% 1.5% -0.7% 1.5% 50% -
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
  • JAEREN outperformed the Banks industry which returned -5.9% over the past year.
  • JAEREN outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
JAEREN
Industry
5yr Volatility vs Market

JAEREN Value

 Is Jaeren 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 Jaeren 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 Jaeren Sparebank.

OB:JAEREN 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
= NOK207.71 * 8.1%
NOK16.74
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. NOK207.71
Discount Rate (Cost of Equity) See below 13.7%
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:JAEREN
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%) (548.25%))
2.443
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (2 * 5.96%)
13.68%

Discounted Cash Flow Calculation for OB:JAEREN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Jaeren 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:JAEREN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.1% – 13.68%) * NOK207.71)
NOK-11.68
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-11.68 / (13.68% - 1.76%)
NOK-97.97
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK207.71 + NOK-97.97
NOK109.75
OB:JAEREN Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK109.75
Current discount Discount to share price of NOK135.00
= -1 x (NOK135.00 - NOK109.75) / NOK109.75
-23%

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

  • The current share price of Jaeren Sparebank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Jaeren Sparebank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Jaeren Sparebank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:JAEREN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK14.12
OB:JAEREN Share Price ** OB (2019-09-19) in NOK NOK135
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 Jaeren Sparebank.

OB:JAEREN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:JAEREN Share Price ÷ EPS (both in NOK)

= 135 ÷ 14.12

9.56x

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

  • Jaeren Sparebank is overvalued based on earnings compared to the NO Banks industry average.
  • Jaeren Sparebank is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does Jaeren Sparebank's expected growth come at a high price?
Raw Data
OB:JAEREN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
11.6%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 .

OB:JAEREN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.56x ÷ 11.6%

0.82x

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

  • Jaeren Sparebank is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Jaeren Sparebank's assets?
Raw Data
OB:JAEREN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK362.19
OB:JAEREN Share Price * OB (2019-09-19) in NOK NOK135
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:JAEREN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:JAEREN Share Price ÷ Book Value per Share (both in NOK)

= 135 ÷ 362.19

0.37x

* Primary Listing of Jaeren Sparebank.

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

  • Jaeren Sparebank is good value based on assets compared to the NO Banks industry average.
X
Value checks
We assess Jaeren 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. Jaeren Sparebank has a total score of 3/6, 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.

JAEREN Future Performance

 How is Jaeren Sparebank expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
11.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Jaeren Sparebank expected to grow at an attractive rate?
  • Jaeren Sparebank's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Jaeren Sparebank's earnings growth is positive but not above the Norway market average.
  • Jaeren Sparebank's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:JAEREN Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:JAEREN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 11.6%
OB:JAEREN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 5.1%
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:JAEREN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:JAEREN Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 147
2021-12-31 359 147 2
2020-12-31 348 142 2
2019-12-31 315 146 1
2019-09-19
OB:JAEREN Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 324 157 70
2019-03-31 317 151 67
2018-12-31 312 128 66
2018-09-30 312 132 65
2018-06-30 316 130 67
2018-03-31 308 122 65
2017-12-31 309 127 66
2017-09-30 307 121 79
2017-06-30 309 109 81
2017-03-31 316 116 84
2016-12-31 302 117 78
2016-09-30 301 67 63

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Jaeren Sparebank's earnings are expected to grow by 11.6% yearly, however this is not considered high growth (20% yearly).
  • Jaeren Sparebank's revenue is expected to grow by 5.1% yearly, however this is not considered high growth (20% yearly).
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:JAEREN 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 2 Analyst Estimates (S&P Global) See Below

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

OB:JAEREN Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 15.73 15.92 15.54 2.00
2020-12-31 15.37 15.48 15.27 2.00
2019-12-31 15.94 15.94 15.94 1.00
2019-09-19
OB:JAEREN Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 14.12
2019-03-31 13.58
2018-12-31 13.28
2018-09-30 13.09
2018-06-30 13.59
2018-03-31 13.18
2017-12-31 13.38
2017-09-30 16.00
2017-06-30 16.40
2017-03-31 16.85
2016-12-31 15.90
2016-09-30 13.07

*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.
  • Jaeren Sparebank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Jaeren 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.
Jaeren Sparebank has a total score of 2/6, 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.

JAEREN Past Performance

  How has Jaeren 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 Jaeren 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.
  • Jaeren Sparebank's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Jaeren Sparebank's 1-year earnings growth exceeds its 5-year average (4.5% vs -5.7%)
  • Jaeren Sparebank's earnings growth has not exceeded the NO Banks industry average in the past year (4.5% vs 13.3%).
Earnings and Revenue History
Jaeren 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 Jaeren Sparebank Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:JAEREN Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 323.90 70.30 139.38
2019-03-31 316.75 66.92 138.57
2018-12-31 311.85 65.52 137.03
2018-09-30 312.38 64.82 140.99
2018-06-30 315.52 67.26 138.90
2018-03-31 307.66 64.84 138.41
2017-12-31 309.26 65.98 137.85
2017-09-30 306.96 78.85 133.55
2017-06-30 308.52 80.71 132.72
2017-03-31 315.95 83.74 135.65
2016-12-31 302.06 78.44 134.05
2016-09-30 301.39 62.66 140.25
2016-06-30 279.15 50.73 142.41
2016-03-31 267.86 43.56 141.89
2015-12-31 280.06 115.97 146.51
2015-09-30 250.47 118.26 124.26
2015-06-30 232.51 123.13 107.93
2015-03-31 197.53 130.10 87.48
2014-12-31 160.38 57.56 69.76
2014-09-30 159.75 58.77 62.28
2014-06-30 158.87 60.90 61.32
2014-03-31 142.63 48.22 60.87
2013-12-31 136.68 45.94 58.98
2013-09-30 142.48 37.91 58.07
2013-06-30 132.94 32.07 56.77
2013-03-31 115.76 27.94 56.74
2012-12-31 127.97 40.25 56.50
2012-09-30 115.53 46.92 54.05

*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.
  • Jaeren Sparebank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Jaeren Sparebank used its assets less efficiently than the NO Banks industry average last year based on Return on Assets.
  • Unable to establish if Jaeren 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 Jaeren 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.
Jaeren Sparebank has a total score of 1/6, 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.

JAEREN Health

 How is Jaeren 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 Jaeren 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 Jaeren Sparebank Company Filings, last reported 2 months ago.

OB:JAEREN Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,818.09 3,636.70 31.40
2019-03-31 1,762.62 3,726.49 610.33
2018-12-31 1,767.57 3,558.55 116.87
2018-09-30 1,727.20 3,649.31 119.57
2018-06-30 1,700.28 3,500.94 119.22
2018-03-31 1,539.11 3,679.93 121.91
2017-12-31 1,526.52 3,542.49 83.59
2017-09-30 1,520.62 3,692.01 114.69
2017-06-30 1,496.56 3,478.57 114.61
2017-03-31 1,452.16 3,349.36 111.42
2016-12-31 1,459.94 3,152.42 96.75
2016-09-30 1,404.36 3,122.15 93.83
2016-06-30 1,371.44 2,960.66 93.36
2016-03-31 1,344.37 2,740.33 96.38
2015-12-31 1,336.85 2,802.69 95.98
2015-09-30 1,278.58 2,735.28 96.56
2015-06-30 1,266.50 2,860.11 100.13
2015-03-31 1,235.97 3,017.86 98.79
2014-12-31 672.97 1,004.19 72.93
2014-09-30 658.64 990.40 72.32
2014-06-30
2014-03-31 622.19 1,079.87 64.03
2013-12-31 616.23 1,116.58 64.75
2013-09-30 607.25 1,172.87 65.89
2013-06-30 593.72 1,172.63 64.24
2013-03-31 578.74 1,237.97 64.88
2012-12-31 571.41 1,262.98 62.16
2012-09-30 570.55 1,337.47 64.97
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.
  • Jaeren Sparebank has an acceptable proportion of non-loan assets held.
  • Jaeren Sparebank's liabilities are made up of primarily low risk sources of funding.
  • Jaeren Sparebank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Jaeren 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 Jaeren Sparebank has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Jaeren Sparebank has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Jaeren 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. Jaeren 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.

JAEREN Dividends

 What is Jaeren 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
5.56%
Current annual income from Jaeren Sparebank dividends. Estimated to be 6.37% next year.
If you bought NOK2,000 of Jaeren Sparebank shares you are expected to receive NOK111 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?
  • Jaeren Sparebank's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • Jaeren Sparebank's dividend is below 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:JAEREN 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 2 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:JAEREN Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 8.50 2.00
2020-12-31 8.50 2.00
2019-12-31 9.00 1.00
2019-09-19
OB:JAEREN Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-03-29 7.500 5.578
2019-02-14 7.500 5.220
2018-03-22 6.000 4.532
2018-02-08 6.000 4.365
2017-03-10 6.000 4.814
2017-02-10 6.000 4.985
2016-03-18 3.000 3.158
2016-02-11 3.000 3.130
2015-02-12 5.000 5.025

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

  • Jaeren Sparebank 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 Jaeren Sparebank only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Jaeren Sparebank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Jaeren 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 Jaeren Sparebank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Jaeren 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.

JAEREN Management

 What is the CEO of Jaeren 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
Tor Lie
COMPENSATION NOK4,115,000
AGE 64
TENURE AS CEO 9.5 years
CEO Bio

Mr. Tor Egil Lie has been a Managing Bank Director at Jaeren Sparebank since January 1, 2015 and serves as its Director. Mr. Lie serves as a Member of the Supervisory Board at Eika Forsikring AS. Mr. Lie served as Member of the Supervisory Board at Eika Gruppen AS. He has been the Chairman of Eika Boligkreditt AS (Terra Boligkreditt AS) since January 29, 2018 and served as its Vice Chairman until January 29, 2018. He has been a Director of Eika Boligkreditt AS (Terra Boligkreditt AS) since 2014 and also served as its Member of Supervisory Board.

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

Tor Lie

TITLE
CEO & Managing Bank Director
COMPENSATION
NOK4M
AGE
64
TENURE
9.5 yrs

Klas Stølsnes

TITLE
Bank Director & CFO
COMPENSATION
NOK1M
TENURE
4.7 yrs

Magne Stangeland

TITLE
Bank Manager of Risk Management & Compliance
COMPENSATION
NOK1M

Frode Flesjå

TITLE
Bank Manager of Corporate Market
COMPENSATION
NOK1M

June Bru

TITLE
Bank Manager of Retail Market
COMPENSATION
NOK2M

Inger Drengstig

TITLE
Manager of Customer Centre
COMPENSATION
NOK1M
Board of Directors

Per Bergstad

TITLE
Chairman of the Board
COMPENSATION
NOK211K

Tor Lie

TITLE
CEO & Managing Bank Director
COMPENSATION
NOK4M
AGE
64

Tor Bilstad

TITLE
Vice Chairman of the Board of Directors
COMPENSATION
NOK120K

Hanne Bore

TITLE

Asbjørn Ueland

TITLE
Chairman of the Board of Trustees

Oddvar Undheim

TITLE
Vice-Chairman of the Board of Trustees
COMPENSATION
NOK5K

Snorre Haukali

TITLE
Director
COMPENSATION
NOK100K

Marie Storhaug

TITLE
Director
COMPENSATION
NOK100K

Rune Kvalvik

TITLE
Employee Representative Director
COMPENSATION
NOK92K

Liv Thysse

TITLE
Board Member
COMPENSATION
NOK18K
TENURE
0.3 yrs
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)
17. Dec 18 Sell Sparebankstiftelsen Time Og Hå, Endowment Arm Company 17. Dec 18 17. Dec 18 -18,500 NOK135.00 NOK-2,497,500
X
Management checks
We assess Jaeren 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. Jaeren 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.

JAEREN News

Simply Wall St News

How Much Did Jaeren Sparebank's (OB:JAEREN) CEO Pocket Last Year?

First, this article will compare CEO compensation with compensation at similar sized companies. … Check out our latest analysis for Jaerenrebank How Does Tor Lie's Compensation Compare With Similar Sized Companies? … We examined the amount Jaeren Sparebank pays its CEO, and compared it to the amount paid by similar sized companies.

Simply Wall St -

Is Jaeren Sparebank (OB:JAEREN) At Risk Of Cutting Its Dividend?

This company's dividend has been unstable, and with a relatively short history, we think it's a little soon to draw strong conclusions about its long term dividend potential. … Dividend Growth Potential With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. … Unfortunately, the company has not been able to generate earnings per share growth, and cut its dividend at least once in the past.

Simply Wall St -

Can You Imagine How Jaerenrebank's (OB:JAEREN) Shareholders Feel About The 58% Share Price Increase?

For example, Jaeren Sparebank (OB:JAEREN) shareholders have seen the share price rise 58% over three years, well in excess of the market return (24%, not including dividends). … It is important to consider the total shareholder return, as well as the share price return, for any given stock. … As it happens, Jaerenrebank's TSR for the last 3 years was 83%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Our Take On Jaeren Sparebank's (OB:JAEREN) CEO Salary

View our latest analysis for Jaerenrebank How Does Tor Lie's Compensation Compare With Similar Sized Companies? … We examined a group of similar sized companies, with market capitalizations of below øre1.8b. … We compared the total CEO remuneration paid by Jaeren Sparebank, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Is Jaeren Sparebank (OB:JAEREN) Undervalued After Accounting For Its Future Growth?

Jaeren Sparebank (OB:JAEREN) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of NOK134 is based on unrealistic expectations. … What can we expect from Jaerenrebank in the future. … Jaerenrebank is poised for extremely high earnings growth in the near future

Simply Wall St -

Will Jaeren Sparebank's (OB:JAEREN) Earnings Grow Over The Next Year?

Since Jaeren Sparebank (OB:JAEREN) released its earnings in December 2018, … analyst consensus outlook appear vastly optimistic, … as a 98% rise in profits is expected in the upcoming year,

Simply Wall St -

The Jaerenrebank (OB:JAEREN) Share Price Is Up 42% And Shareholders Are Holding On

Thanks in no small measure to Vanguard founder Jack Bogle, it's easy buy a low cost index fund, which should provide the average market return. … Notably, the Jaeren Sparebank (OB:JAEREN) share price has gained 42% in three years, which is better than the average market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Simply Wall St -

Interested In Jaeren Sparebank (OB:JAEREN)’s Upcoming øre7.50 Dividend? You Have 3 Days Left

Important news for shareholders and potential investors in Jaeren Sparebank (OB:JAEREN): The dividend payment of øre7.50 per share will be distributed to shareholders on 12 April 2019, and the stock will begin trading ex-dividend at an earlier date, 29 March 2019. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … Let's take a look at Jaerenrebank's most recent financial data to examine its dividend characteristics in more detail.

Simply Wall St -

What Kind Of Investor Owns Most Of Jaeren Sparebank (OB:JAEREN)?

Generally speaking, as a company grows, institutions will increase their ownership. … Conversely, insiders often decrease their ownership over time. … We can zoom in on the different ownership groups, to learn more about JAEREN

Simply Wall St -

How Does Jaeren Sparebank (OB:JAEREN) Fare As A Dividend Stock?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … In the last few years Jaeren Sparebank (OB:JAEREN) has paid a dividend to shareholders.

Simply Wall St -

JAEREN Company Info

Description

Jaeren Sparebank provides various banking products and services for individuals and businesses in Norway. The company accepts savings accounts; and offers car loans, mortgages, credit lines, and guarantees. It also provides auto, home, property, holiday home, and income insurance products; and credit cards, mobile and online banking, leasing, billing and payment, and pension services, as well as investment and real estate services. The company was founded in 1910 and is headquartered in Bryne, Norway. Jaeren Sparebank is a subsidiary of Sparebankstiftelsen Time Og Hå, Endowment Arm.

Details
Name: Jaeren Sparebank
JAEREN
Exchange: OB
Founded: 1910
NOK663,331,140
4,913,564
Website: http://www.jaerensparebank.no
Address: Jaeren Sparebank
Jernbanegata 6,
Bryne,
Rogaland, 4340,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB JAEREN Primary Capital Certificates Oslo Bors NO NOK 02. Jan 2015
Number of employees
Current staff
Staff numbers
0
Jaeren Sparebank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 20:55
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/04
Last earnings filing: 2019/08/15
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.