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SpareBank 1 Ringerike Hadeland

OB:RING
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RING
OB
NOK3B
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

SpareBank 1 Ringerike Hadeland provides various banking products and services to retail and corporate customers in Norway. The last earnings update was 38 days ago. More info.


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RING Share Price and Events
7 Day Returns
1%
OB:RING
2.8%
NO Banks
1.6%
NO Market
1 Year Returns
11%
OB:RING
-5.9%
NO Banks
-8.3%
NO Market
RING Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SpareBank 1 Ringerike Hadeland (RING) 1% 3.9% 3.9% 11% 22.5% 47.7%
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
  • RING outperformed the Banks industry which returned -5.9% over the past year.
  • RING outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
RING
Industry
5yr Volatility vs Market

RING Value

 Is SpareBank 1 Ringerike Hadeland 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 SpareBank 1 Ringerike Hadeland 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 SpareBank 1 Ringerike Hadeland.

OB:RING 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
= NOK246.00 * 10.3%
NOK25.45
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. NOK246.00
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:RING
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%) (162.55%))
1.241
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.241 * 5.96%)
9.16%

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

The calculations below outline how an intrinsic value for SpareBank 1 Ringerike Hadeland 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:RING Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.3% – 9.16%) * NOK246.00)
NOK2.93
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK2.93 / (9.16% - 1.76%)
NOK39.55
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK246.00 + NOK39.55
NOK285.55
OB:RING Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK285.55
Current discount Discount to share price of NOK212.00
= -1 x (NOK212.00 - NOK285.55) / NOK285.55
25.8%

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

Current Discount
Amount off the current price SpareBank 1 Ringerike Hadeland is available for.
Intrinsic value
26%
Share price is NOK212 vs Future cash flow value of NOK285.55
Current Discount Checks
For SpareBank 1 Ringerike Hadeland to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SpareBank 1 Ringerike Hadeland's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SpareBank 1 Ringerike Hadeland's share price is below the future cash flow value, but not 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 SpareBank 1 Ringerike Hadeland's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SpareBank 1 Ringerike Hadeland's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:RING PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK26.96
OB:RING Share Price ** OB (2019-09-19) in NOK NOK212
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 SpareBank 1 Ringerike Hadeland.

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

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

= 212 ÷ 26.96

7.86x

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

  • SpareBank 1 Ringerike Hadeland is good value based on earnings compared to the NO Banks industry average.
  • SpareBank 1 Ringerike Hadeland is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does SpareBank 1 Ringerike Hadeland's expected growth come at a high price?
Raw Data
OB:RING PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-5.2%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:RING PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.86x ÷ -5.2%

-1.5x

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

  • SpareBank 1 Ringerike Hadeland earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on SpareBank 1 Ringerike Hadeland's assets?
Raw Data
OB:RING PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK232.16
OB:RING Share Price * OB (2019-09-19) in NOK NOK212
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:RING PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 212 ÷ 232.16

0.91x

* Primary Listing of SpareBank 1 Ringerike Hadeland.

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

  • SpareBank 1 Ringerike Hadeland is overvalued based on assets compared to the NO Banks industry average.
X
Value checks
We assess SpareBank 1 Ringerike Hadeland'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. SpareBank 1 Ringerike Hadeland 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.

RING Future Performance

 How is SpareBank 1 Ringerike Hadeland 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
-5.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SpareBank 1 Ringerike Hadeland expected to grow at an attractive rate?
  • SpareBank 1 Ringerike Hadeland's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.8%.
Growth vs Market Checks
  • SpareBank 1 Ringerike Hadeland's earnings are expected to decrease over the next 1-3 years, this is below the Norway market average.
  • SpareBank 1 Ringerike Hadeland's revenue growth is positive but not above the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:RING Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:RING Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -5.2%
OB:RING Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 1.5%
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:RING 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:RING Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 367
2021-12-31 892 380 2
2020-12-31 851 352 2
2019-12-31 832 438 2
2019-09-19
OB:RING Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 892 571 422
2019-03-31 882 346 413
2018-12-31 792 -82 330
2018-09-30 789 180 342
2018-06-30 783 -202 344
2018-03-31 767 -423 337
2017-12-31 751 335 321
2017-09-30 714 -219 280
2017-06-30 752 -207 319
2017-03-31 767 -238 333
2016-12-31 744 -1,095 314
2016-09-30 736 -695 312

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SpareBank 1 Ringerike Hadeland's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • SpareBank 1 Ringerike Hadeland's revenue is expected to grow by 1.5% 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:RING 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 SpareBank 1 Ringerike Hadeland Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:RING Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 23.66 24.63 22.68 2.00
2020-12-31 21.88 22.83 20.94 2.00
2019-12-31 27.23 27.33 27.12 2.00
2019-09-19
OB:RING Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 26.96
2019-03-31 26.41
2018-12-31 21.10
2018-09-30 21.86
2018-06-30 21.98
2018-03-31 21.54
2017-12-31 20.51
2017-09-30 18.38
2017-06-30 21.56
2017-03-31 23.14
2016-12-31 22.51
2016-09-30 22.88

*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.
  • SpareBank 1 Ringerike Hadeland is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SpareBank 1 Ringerike Hadeland'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.
SpareBank 1 Ringerike Hadeland has a total score of 0/6, 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.

RING Past Performance

  How has SpareBank 1 Ringerike Hadeland 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 SpareBank 1 Ringerike Hadeland'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.
  • SpareBank 1 Ringerike Hadeland's year on year earnings growth rate has been positive over the past 5 years.
  • SpareBank 1 Ringerike Hadeland's 1-year earnings growth exceeds its 5-year average (22.7% vs 8.7%)
  • SpareBank 1 Ringerike Hadeland's earnings growth has exceeded the NO Banks industry average in the past year (22.7% vs 13.3%).
Earnings and Revenue History
SpareBank 1 Ringerike Hadeland'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 SpareBank 1 Ringerike Hadeland Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:RING Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 892.18 421.95 244.31
2019-03-31 882.23 413.42 244.32
2018-12-31 792.39 330.25 239.56
2018-09-30 788.59 342.07 231.94
2018-06-30 783.27 343.97 227.80
2018-03-31 767.25 337.11 225.97
2017-12-31 751.48 321.03 230.71
2017-09-30 713.89 279.85 223.47
2017-06-30 752.02 319.14 222.21
2017-03-31 767.44 332.58 220.63
2016-12-31 743.63 313.90 212.73
2016-09-30 735.64 312.01 210.49
2016-06-30 664.90 242.02 209.54
2016-03-31 624.86 208.65 210.17
2015-12-31 615.58 217.52 202.26
2015-09-30 615.94 238.26 131.77
2015-06-30 636.97 269.86 142.88
2015-03-31 642.09 287.05 148.83
2014-12-31 640.24 287.14 165.51
2014-09-30 645.91 288.84 227.61
2014-06-30 617.50 270.09 226.04
2014-03-31 577.11 236.14 225.66
2013-12-31 566.78 232.66 223.19
2013-09-30 525.06 200.68 220.74
2013-06-30 518.20 202.25 216.71
2013-03-31 489.57 185.72 215.50
2012-12-31 485.99 172.59 212.06
2012-09-30 482.94 188.73 220.33

*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.
  • SpareBank 1 Ringerike Hadeland has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SpareBank 1 Ringerike Hadeland used its assets more efficiently than the NO Banks industry average last year based on Return on Assets.
  • Unable to establish if SpareBank 1 Ringerike Hadeland 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 SpareBank 1 Ringerike Hadeland'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.
SpareBank 1 Ringerike Hadeland has a total score of 4/6, 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.

RING Health

 How is SpareBank 1 Ringerike Hadeland'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 SpareBank 1 Ringerike Hadeland'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 SpareBank 1 Ringerike Hadeland Company Filings, last reported 2 months ago.

OB:RING Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 3,634.02 5,393.26 2,403.37
2019-03-31 3,538.38 5,808.38 2,589.04
2018-12-31 3,541.13 5,599.60 2,341.89
2018-09-30 3,473.30 5,676.52 2,083.35
2018-06-30 3,391.58 5,878.28 2,178.29
2018-03-31 3,301.71 5,881.70 2,205.77
2017-12-31 3,366.54 5,257.93 1,721.15
2017-09-30 3,278.79 5,602.05 1,967.32
2017-06-30 3,195.43 5,491.19 1,943.46
2017-03-31 2,822.47 5,581.08 1,695.64
2016-12-31 2,907.10 5,703.78 1,733.06
2016-09-30 2,856.87 5,580.94 1,389.83
2016-06-30 2,747.66 5,421.25 1,443.57
2016-03-31 2,643.34 5,217.07 1,253.97
2015-12-31 2,701.43 4,427.60 1,320.02
2015-09-30 2,634.43 4,605.08 1,309.42
2015-06-30 2,581.85 4,554.04 1,362.91
2015-03-31 2,481.23 4,620.42 1,479.00
2014-12-31 2,558.35 4,770.29 1,346.22
2014-09-30 2,542.18 4,585.06 1,300.86
2014-06-30 2,479.21 4,752.06 1,529.16
2014-03-31 2,396.69 4,810.81 1,323.89
2013-12-31 2,454.03 4,666.19 1,307.24
2013-09-30 2,377.28 4,699.09 127.65
2013-06-30 2,313.69 4,615.39 325.38
2013-03-31 2,270.92 4,822.47 133.16
2012-12-31 2,326.29 4,689.32 1,240.60
2012-09-30 2,281.39 4,415.26 122.00
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.
  • SpareBank 1 Ringerike Hadeland has an acceptable proportion of non-loan assets held.
  • SpareBank 1 Ringerike Hadeland's liabilities are made up of primarily low risk sources of funding.
  • SpareBank 1 Ringerike Hadeland has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • SpareBank 1 Ringerike Hadeland's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if SpareBank 1 Ringerike Hadeland has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if SpareBank 1 Ringerike Hadeland has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess SpareBank 1 Ringerike Hadeland'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. SpareBank 1 Ringerike Hadeland 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.

RING Dividends

 What is SpareBank 1 Ringerike Hadeland'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%
Current annual income from SpareBank 1 Ringerike Hadeland dividends. Estimated to be 5.85% next year.
If you bought NOK2,000 of SpareBank 1 Ringerike Hadeland shares you are expected to receive NOK100 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?
  • SpareBank 1 Ringerike Hadeland's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • SpareBank 1 Ringerike Hadeland'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:RING 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:RING Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 12.50 2.00
2020-12-31 11.70 2.00
2019-12-31 13.00 2.00
2019-09-19
OB:RING Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-27 10.600 5.226
2019-02-11 10.600 5.248
2018-02-14 10.300 5.232
2017-03-08 9.400 4.904
2017-02-14 9.400 4.687
2016-03-17 7.800 4.494
2015-04-27 9.000 5.229
2015-02-04 9.000 5.447
2014-03-24 8.600 6.292
2014-02-05 8.600 6.488
2013-01-15 8.000 6.626
2012-06-21 8.000 7.204
2011-05-23 6.500 5.394
2011-02-03 6.500 4.772
2010-04-12 10.600 8.018
2009-05-06 7.000 5.378
2009-01-30 7.000 5.658

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of SpareBank 1 Ringerike Hadeland's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess SpareBank 1 Ringerike Hadeland'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 SpareBank 1 Ringerike Hadeland afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SpareBank 1 Ringerike Hadeland has a total score of 4/6, see the detailed checks below.


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

RING Management

 What is the CEO of SpareBank 1 Ringerike Hadeland'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
Steinar Haugli
COMPENSATION NOK3,839,000
AGE 62
TENURE AS CEO 10.8 years
CEO Bio

Mr. Steinar Haugli serves as Managing Director and Managing Bank Manager at SpareBank 1 Ringerike Hadeland. Mr. Haugli serves as Member of Supervisory Board at SpareBank 1 SR-Bank (formerly, Sparebanken Rogaland).

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

Steinar Haugli

TITLE
MD & ADM Bank Manager
COMPENSATION
NOK4M
AGE
62
TENURE
10.8 yrs

Andrea Søfting

TITLE
Bank Manager of Finance & Economics
COMPENSATION
NOK1M
AGE
36
TENURE
4.7 yrs

Jørgen Ruud

TITLE
Bank Manager of Risk Management & Compliance
COMPENSATION
NOK1M
AGE
42

Unn Teslo

TITLE
Bank Manager of Human Resources & Business Support
COMPENSATION
NOK1M
AGE
64

Else Hellum

TITLE
Bank Manager of Personal Market
COMPENSATION
NOK1M
AGE
67

Bjørn Rindal

TITLE
Bank Manager of Corporate Market
COMPENSATION
NOK1M
AGE
44

Sten Lunder

TITLE
Bank Manager of Business Development
COMPENSATION
NOK1M
AGE
52

Kristin Ruud

TITLE
Bank Manager of Information & Public Affairs
COMPENSATION
NOK739K

Marit Tronrud

TITLE
Bank Manager of Customer Service
COMPENSATION
NOK717K
Board of Directors Tenure

Average tenure and age of the SpareBank 1 Ringerike Hadeland board of directors in years:

2.7
Average Tenure
55.5
Average Age
  • The average tenure for the SpareBank 1 Ringerike Hadeland board of directors is less than 3 years, this suggests a new board.
Board of Directors

Olav Fjell

TITLE
Chairman of the Board
AGE
68
TENURE
0.7 yrs

Wenche Ravlo

TITLE
Deputy Chairman
AGE
54

Kari Jønnes

TITLE
Chairman of Supervisory Board

Oscar Engeli

TITLE
Director
COMPENSATION
NOK115K
AGE
50
TENURE
2.7 yrs

Steinar Aasnæss

TITLE
Deputy Chairman of Supervisory Board

Jane Gravbråten

TITLE
Director
AGE
44
TENURE
1.7 yrs

Liv Kildal

TITLE
Employee Representative Director
COMPENSATION
NOK58K
AGE
56
TENURE
7.5 yrs

Svein Oftedal

TITLE
Director
COMPENSATION
NOK58K
AGE
55
TENURE
6.5 yrs

Gunnar Bergan

TITLE
Director
COMPENSATION
NOK58K
AGE
58
TENURE
3.3 yrs

Hans Stubberud

TITLE
Director
AGE
57
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by SpareBank 1 Ringerike Hadeland individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
02. Sep 19 Buy Kristin Ruud Individual 02. Sep 19 02. Sep 19 700 NOK210.00 NOK147,000
26. Aug 19 Buy Kristin Ruud Individual 23. Aug 19 23. Aug 19 334 NOK206.00 NOK68,804
16. Aug 19 Buy Pal Ramsrud Individual 16. Aug 19 16. Aug 19 220 NOK206.00 NOK45,320
13. Aug 19 Buy Inger Holm Individual 12. Aug 19 12. Aug 19 211 NOK210.00 NOK44,310
13. Aug 19 Buy John Bleken Individual 12. Aug 19 12. Aug 19 400 NOK208.14 NOK83,256
25. Oct 18 Buy Andrea Søfting Individual 25. Oct 18 25. Oct 18 100 NOK194.88 NOK19,488
13. May 19 Buy John Bleken Individual 13. May 19 13. May 19 400 NOK200.00 NOK80,000
13. May 19 Buy Steinar Haugli Individual 13. May 19 13. May 19 500 NOK200.00 NOK100,000
09. May 19 Buy Rindal Invest AS Company 09. May 19 09. May 19 5,000 NOK200.00 NOK1,000,000
26. Mar 19 Buy Hans Stubberud Individual 15. Nov 18 21. Mar 19 155 NOK200.00 NOK30,172
19. Mar 19 Buy Steinar Haugli Individual 19. Mar 19 19. Mar 19 362 NOK207.68 NOK75,180
15. Mar 19 Buy Steinar Haugli Individual 15. Mar 19 15. Mar 19 300 NOK200.00 NOK60,000
31. Oct 18 Buy Rindal Invest AS Company 31. Oct 18 31. Oct 18 2,000 NOK195.00 NOK390,000
X
Management checks
We assess SpareBank 1 Ringerike Hadeland'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. SpareBank 1 Ringerike Hadeland 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.

RING News

Simply Wall St News

Is Now The Time To Put SpareBank 1 Ringerike Hadeland (OB:RING) On Your Watchlist?

So if you're like me, you might be more interested in profitable, growing companies, like SpareBank 1 Ringerike Hadeland (OB:RING). … Check out our latest analysis for SpareBank 1 Ringerike Hadeland How Quickly Is SpareBank 1 Ringerike Hadeland Increasing Earnings Per Share? … I note that SpareBank 1 Ringerike Hadeland's revenue from operations was lower than its revenue in the last twelve months, so that could distort my analysis of its margins.

Simply Wall St -

What Type Of Shareholder Owns SpareBank 1 Ringerike Hadeland's (OB:RING)?

SpareBank 1 Ringerike Hadeland is a smaller company with a market capitalization of øre3.1b, so it may still be flying under the radar of many institutional investors. … See our latest analysis for SpareBank 1 Ringerike Hadeland OB:RING Ownership Summary, July 30th 2019 What Does The Institutional Ownership Tell Us About SpareBank 1 Ringerike Hadeland? … Insider Ownership Of SpareBank 1 Ringerike Hadeland While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

If You Had Bought SpareBank 1 Ringerike Hadeland (OB:RING) Stock Five Years Ago, You Could Pocket A 53% Gain Today

For example, the SpareBank 1 Ringerike Hadeland (OB:RING) share price is up 53% in the last 5 years, clearly besting than the market return of around 13% (ignoring dividends). … During five years of share price growth, SpareBank 1 Ringerike Hadeland achieved compound earnings per share (EPS) growth of 9.4% per year. … As it happens, SpareBank 1 Ringerike Hadeland's TSR for the last 5 years was 101%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Why SpareBank 1 Ringerike Hadeland (OB:RING) Is A Top Dividend Stock

Is SpareBank 1 Ringerike Hadeland (OB:RING) a good dividend stock? How would you know? Dividend paying companies with growing earnings can be highly rewarding in the long term. Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if SpareBank 1 Ringerike Hadeland is a new dividend aristocrat in the making. It sure looks interesting on these metrics - but there's always more to the story . Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Explore this interactive chart for our latest analysis on SpareBank 1 Ringerike Hadeland! OB:RING Historical Dividend Yield, June 25th 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. Looking at the data, we can see that 40% of SpareBank 1 Ringerike Hadeland's profits were paid out as dividends in the last 12 months. This is medium payout level that leaves enough capital in the business to fund opportunities that might arise, while also rewarding shareholders. One of the risks is that management reinvests the retained capital poorly instead of paying a higher dividend. We update our data on SpareBank 1 Ringerike Hadeland every 24 hours, so you can always get our latest analysis of its financial health, here. Dividend Volatility Before buying a stock for its income, we want to see if the dividends have been stable in the past, and if the company has a track record of maintaining its dividend. Looking at the last decade of data, we can see that SpareBank 1 Ringerike Hadeland paid its first dividend at least nine years ago. It's good to see that SpareBank 1 Ringerike Hadeland has been paying a dividend for a number of years. However, the dividend has been cut at least once in the past, and we're concerned that what has been cut once, could be cut again. Its most recent annual dividend was øre10.60 per share, effectively flat on its first payment nine years ago. It's good to see some dividend growth, but the dividend has been cut at least once, and the size of the cut would eliminate most of the growth, anyway. We're not that enthused by this. Dividend Growth Potential Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. It's good to see SpareBank 1 Ringerike Hadeland has been growing its earnings per share at 10% a year over the past 5 years. A company paying out less than a quarter of its earnings as dividends, and growing earnings at more than 10% per annum, looks to be right in the cusp of its growth phase. At the right price, we might be interested. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past. … Overall we think SpareBank 1 Ringerike Hadeland is an interesting dividend stock, although it could be better.

Simply Wall St -

Why SpareBank 1 Ringerike Hadeland (OB:RING) Should Be In Your Dividend Portfolio

Is SpareBank 1 Ringerike Hadeland (OB:RING) a good dividend stock? … With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if SpareBank 1 Ringerike Hadeland is a new dividend aristocrat in the making. … It's good to see that SpareBank 1 Ringerike Hadeland has been paying a dividend for a number of years.

Simply Wall St -

Do You Like SpareBank 1 Ringerike Hadeland (OB:RING) At This P/E Ratio?

We'll look at SpareBank 1 Ringerike Hadeland's (OB:RING) P/E ratio and reflect on what it tells us about the company's share price. … The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for SpareBank 1 Ringerike Hadeland: P/E of 7.61 = NOK202 ÷ NOK26.56 (Based on the year to March 2019.) Is A High P/E Ratio Good? … OB:RING Price Estimation Relative to Market, June 7th 2019 Its relatively low P/E ratio indicates that SpareBank 1 Ringerike Hadeland shareholders think it will struggle to do as well as other companies in its industry classification.

Simply Wall St -

Do SpareBank 1 Ringerike Hadeland's (OB:RING) Earnings Warrant Your Attention?

View our latest analysis for SpareBank 1 Ringerike Hadeland SpareBank 1 Ringerike Hadeland's Earnings Per Share Are Growing. … I note that SpareBank 1 Ringerike Hadeland's revenue from operations was lower than its revenue in the last twelve months, so that could distort my analysis of its margins. … While we note SpareBank 1 Ringerike Hadeland's EBIT margins were flat over the last year, revenue grew by a solid 15% to øre882m.

Simply Wall St -

SpareBank 1 Ringerike Hadeland (OB:RING): Is It A Good Long Term Opportunity?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … SpareBank 1 Ringerike Hadeland's (OB:RING) most recent earnings update in December 2018a

Simply Wall St -

Could The SpareBank 1 Ringerike Hadeland (OB:RING) Ownership Structure Tell Us Something Useful?

A look at the shareholders of SpareBank 1 Ringerike Hadeland (OB:RING) can tell us which group is most powerful. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … SpareBank 1 Ringerike Hadeland is a smaller company with a market capitalization of øre3.1b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Is SpareBank 1 Ringerike Hadeland (OB:RING) Overpaying Its CEO?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Steinar Haugli's Compensation Compare With Similar Sized Companies. … According to our data, SpareBank 1 Ringerike Hadeland has a market capitalization of øre3.1b, and pays its CEO total annual compensation worth øre3.8m.

Simply Wall St -

RING Company Info

Description

SpareBank 1 Ringerike Hadeland provides various banking products and services to retail and corporate customers in Norway. It offers savings accounts, as well as mortgage and car loans; financing, placement, payment, pension, and life insurance services; and mobile and online banking services. The company was founded in 1833 and is based in Hønefoss, Norway.

Details
Name: SpareBank 1 Ringerike Hadeland
RING
Exchange: OB
Founded: 1833
NOK3,317,885,860
15,650,405
Website: http://www.sparebank1.no/ringerike-hadeland/
Address: SpareBank 1 Ringerike Hadeland
Søndre Torv 6,
Hønefoss,
Buskerud, 3510,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB RING Primary Capital Certificates Oslo Bors NO NOK 17. Jun 1996
Number of employees
Current staff
Staff numbers
0
SpareBank 1 Ringerike Hadeland employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 20:40
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/04
Last earnings filing: 2019/08/12
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.