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Sparebank 1 Nordvest

OB:SNOR
Snowflake Description

Very undervalued with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SNOR
OB
NOK242M
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

Sparebank 1 Nordvest provides various banking services in Norway. The last earnings update was 37 days ago. More info.


Add to Portfolio Compare Print
SNOR Share Price and Events
7 Day Returns
-2.7%
OB:SNOR
2.8%
NO Banks
1.6%
NO Market
1 Year Returns
-3.6%
OB:SNOR
-5.9%
NO Banks
-8.3%
NO Market
SNOR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sparebank 1 Nordvest (SNOR) -2.7% 0% -1.8% -3.6% - -
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
  • SNOR outperformed the Banks industry which returned -5.9% over the past year.
  • SNOR outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Sparebank 1 Nordvest 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 Nordvest 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 Nordvest.

OB:SNOR 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
= NOK876.60 * 8.8%
NOK77.12
Book Value of Equity per Share Median Book Value from the past 5 years. NOK876.60
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:SNOR
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%) (1744.84%))
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:SNOR using Excess Returns Model Model

The calculations below outline how an intrinsic value for Sparebank 1 Nordvest 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:SNOR Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.8% – 9.21%) * NOK876.60)
NOK-3.62
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-3.62 / (9.21% - 1.76%)
NOK-48.61
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK876.60 + NOK-48.61
NOK827.99
OB:SNOR Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK827.99
Current discount Discount to share price of NOK108.00
= -1 x (NOK108.00 - NOK827.99) / NOK827.99
87%

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

Current Discount
Amount off the current price Sparebank 1 Nordvest is available for.
Intrinsic value
>50%
Share price is NOK108 vs Future cash flow value of NOK827.99
Current Discount Checks
For Sparebank 1 Nordvest to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sparebank 1 Nordvest's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sparebank 1 Nordvest'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 Sparebank 1 Nordvest's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sparebank 1 Nordvest's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:SNOR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK15.46
OB:SNOR Share Price ** OB (2019-09-19) in NOK NOK108
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 Nordvest.

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

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

= 108 ÷ 15.46

6.99x

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

  • Sparebank 1 Nordvest is good value based on earnings compared to the NO Banks industry average.
  • Sparebank 1 Nordvest is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does Sparebank 1 Nordvest's expected growth come at a high price?
Raw Data
OB:SNOR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
11.1%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:SNOR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.99x ÷ 11.1%

0.63x

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

  • Sparebank 1 Nordvest is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sparebank 1 Nordvest's assets?
Raw Data
OB:SNOR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK948.67
OB:SNOR Share Price * OB (2019-09-19) in NOK NOK108
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:SNOR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 108 ÷ 948.67

0.11x

* Primary Listing of Sparebank 1 Nordvest.

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

  • Sparebank 1 Nordvest is good value based on assets compared to the NO Banks industry average.
X
Value checks
We assess Sparebank 1 Nordvest'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 Nordvest has a total score of 6/6, 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.

Future Performance

 How is Sparebank 1 Nordvest expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sparebank 1 Nordvest expected to grow at an attractive rate?
  • Sparebank 1 Nordvest's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Sparebank 1 Nordvest's earnings growth is positive but not above the Norway market average.
  • Sparebank 1 Nordvest's revenues are expected to decrease over the next 1-3 years, this is below the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:SNOR Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:SNOR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 11.1%
OB:SNOR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -1.3%
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:SNOR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:SNOR Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 163
2021-12-31 453 162 1
2020-12-31 428 146 1
2019-12-31 405 229 1
2019-09-19
OB:SNOR Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 490 -1,042 34
2019-03-31 479 -657 33
2018-12-31 412 -945 23
2018-09-30 448 -689 17
2018-06-30 456 -564 19
2018-03-31 471 -605 23
2017-12-31 453 -454 19
2017-09-30 414 -425 163
2017-06-30 428 -643 162
2017-03-31 427 -800 158
2016-12-31 411 -416 157
2016-09-30 405 -345 31

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sparebank 1 Nordvest's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • Sparebank 1 Nordvest's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:SNOR 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 1 Analyst Estimates (S&P Global) See Below

All data from Sparebank 1 Nordvest Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:SNOR Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 10.85 10.85 10.85 1.00
2020-12-31 10.00 10.00 10.00 1.00
2019-12-31 16.42 16.42 16.42 1.00
2019-09-19
OB:SNOR Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 15.46
2019-03-31 15.13
2018-12-31 10.37
2018-09-30 7.53
2018-06-30 8.40
2018-03-31 10.40
2017-12-31 8.41
2017-09-30 37.01
2017-06-30 14.61
2017-03-31
2016-12-31 14.71
2016-09-30 3.02

*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 Nordvest 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 Nordvest'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 Nordvest 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.

Past Performance

  How has Sparebank 1 Nordvest 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 Nordvest'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 Nordvest's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Sparebank 1 Nordvest's 1-year earnings growth exceeds its 5-year average (82.4% vs -14.8%)
  • Sparebank 1 Nordvest's earnings growth has exceeded the NO Banks industry average in the past year (82.4% vs 13.3%).
Earnings and Revenue History
Sparebank 1 Nordvest'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 Nordvest Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:SNOR Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 489.69 34.37 152.37
2019-03-31 479.35 33.12 151.01
2018-12-31 411.87 22.91 147.45
2018-09-30 448.09 16.89 216.15
2018-06-30 455.75 18.84 202.02
2018-03-31 471.10 23.32 201.85
2017-12-31 453.45 18.87 201.34
2017-09-30 414.20 163.10 122.25
2017-06-30 427.78 162.15 148.72
2017-03-31 426.61 157.54 161.76
2016-12-31 410.55 156.51 173.13
2016-09-30 405.34 31.21 139.06
2016-06-30 360.14 86.25 131.30
2016-03-31 324.44 61.00 124.87
2015-12-31 326.25 84.16 123.86
2015-09-30 319.49 84.07 118.02
2015-06-30 353.69 62.51 120.97
2015-03-31 365.00 128.56 122.11
2014-12-31 365.35 130.76 118.69
2014-09-30 372.06 55.56 131.49
2014-06-30 351.87 39.12 127.11
2014-03-31 333.52 31.68 125.04
2013-12-31 315.97 12.60 120.97
2013-09-30 292.09 75.52 115.56
2013-06-30 279.17 76.33 111.66
2013-03-31 255.98 44.17 108.29
2013-01-01 250.09 57.31 107.48
2012-09-30 236.47 60.25 118.82

*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 Nordvest has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sparebank 1 Nordvest used its assets less efficiently than the NO Banks industry average last year based on Return on Assets.
  • Unable to establish if Sparebank 1 Nordvest 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 Nordvest'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 Nordvest 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.

Health

 How is Sparebank 1 Nordvest'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 Nordvest'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 Nordvest Company Filings, last reported 2 months ago.

OB:SNOR Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,139.18 4,227.67 2,605.74
2019-03-31 2,100.84 4,291.71 2,591.66
2018-12-31 2,034.81 4,268.15 1,806.44
2018-09-30 2,015.62 3,990.26 2,018.36
2018-06-30 1,997.30 3,915.69 2,570.58
2018-03-31 1,952.89 3,933.23 2,179.32
2017-12-31 1,918.13 3,567.28 2,020.33
2017-09-30 1,815.13 3,567.52 2,108.47
2017-06-30 1,672.07 3,836.72 2,392.23
2017-03-31 1,625.82 3,783.29 2,094.79
2016-12-31 1,604.03 3,785.51 2,110.61
2016-09-30 1,562.24 3,717.18 2,259.99
2016-06-30 1,396.87 3,825.25 2,355.16
2016-03-31 1,347.69 3,892.23 2,109.64
2015-12-31 1,371.18 3,863.65 2,173.74
2015-09-30 1,276.71 3,780.63 2,044.79
2015-06-30 1,270.61 3,922.50 2,461.81
2015-03-31 1,230.64 4,134.50 2,653.17
2014-12-31 1,184.62 3,861.09 2,214.18
2014-09-30 1,204.52 3,783.99 273.44
2014-06-30 1,175.96 3,904.71 2,158.42
2014-03-31 1,126.68 3,784.06 2,110.52
2013-12-31 1,092.91 3,812.10 2,030.24
2013-09-30 937.02 3,635.00 1,829.32
2013-06-30 912.63 3,885.00 2,112.05
2013-03-31 882.11 4,035.00 2,151.55
2013-01-01 855.48 3,889.22 2,142.00
2012-09-30
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 Nordvest has an acceptable proportion of non-loan assets held.
  • Sparebank 1 Nordvest's liabilities are made up of primarily low risk sources of funding.
  • Sparebank 1 Nordvest has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Sparebank 1 Nordvest'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 Nordvest has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Sparebank 1 Nordvest has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Sparebank 1 Nordvest'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 Nordvest 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.

Dividends

 What is Sparebank 1 Nordvest'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 Sparebank 1 Nordvest dividends. Estimated to be 6.3% next year.
If you bought NOK2,000 of Sparebank 1 Nordvest 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?
  • Sparebank 1 Nordvest's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • Sparebank 1 Nordvest'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:SNOR 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 1 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:SNOR Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 6.40 1.00
2020-12-31 6.00 1.00
2019-12-31 8.00 1.00
2019-09-19
OB:SNOR Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-04-04 6.000 5.568
2019-02-12 6.000 5.454
2018-02-15 5.500 4.986
2018-02-14 5.500 4.742

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

  • Whilst dividend payments have been stable, Sparebank 1 Nordvest has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Sparebank 1 Nordvest only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Sparebank 1 Nordvest's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Sparebank 1 Nordvest'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 Nordvest afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sparebank 1 Nordvest 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.

Management

 What is the CEO of Sparebank 1 Nordvest'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
Odd Folland
COMPENSATION NOK2,226,000
AGE 64
TENURE AS CEO 14.7 years
CEO Bio

Mr. Odd Einar Folland serves as the Chief Executive Officer and Managing Director of Sparebank 1 Nordvest. Mr. Folland has been a Director of SpareBank 1 Gruppen AS since April 8, 2015 and its Chairman since April 4, 2018. Mr. Folland served as Deputy Chairman of SpareBank 1 Gruppen AS until April 4, 2018. He serves as a Member of Supervisory Board at BN Bank ASA. He serves as the Chairman of the Nominating Committee of Møre og Romsdal Såkornfond AS and Chairman of the Nominating Committee at Bølgen Invest AS.

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

Odd Folland

TITLE
Chief Executive Officer
COMPENSATION
NOK2M
AGE
64
TENURE
14.7 yrs

Steinar Sogn

TITLE
Chief Financial Officer
COMPENSATION
NOK2M
AGE
60

Olav Rugset

TITLE
Legal Director
COMPENSATION
NOK1M

Kathrine Gjestad

TITLE
HR Manager
COMPENSATION
NOK1M

Rune Solli

TITLE
Bank Manager of Corporate Markets
COMPENSATION
NOK1M

Leif Almvik

TITLE
Bank Manager of Retail Market
COMPENSATION
NOK1M

Turid Humlen

TITLE
Regional Bank Manager
COMPENSATION
NOK1M

Roald Røsand

TITLE
General Manager
COMPENSATION
NOK32K
Board of Directors

Lars Backer

TITLE
Chairman of the Board
COMPENSATION
NOK199K
AGE
59

Runar Wiik

TITLE
Vice Chairman
COMPENSATION
NOK93K

Roald Røsand

TITLE
General Manager
COMPENSATION
NOK32K

Gerd Marit Langøy

TITLE
Director
COMPENSATION
NOK83K

Gunnar Ervik

TITLE
Director
COMPENSATION
NOK79K

Vegard Nekstad

TITLE
Director
COMPENSATION
NOK83K

Randi Lisberg

TITLE
Director
COMPENSATION
NOK86K
AGE
46

Øystein Aandahl

TITLE
Employee Board Member
COMPENSATION
NOK81K
AGE
45
TENURE
1.1 yrs

Bjørn Rød

TITLE
Director
COMPENSATION
NOK105K

Heidi Dahl

TITLE
Director
COMPENSATION
NOK83K
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Sparebank 1 Nordvest individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
25. Jun 19 Buy Roald Røsand Individual 24. Jun 19 24. Jun 19 4,000 NOK109.00 NOK436,000
21. Feb 19 Buy Odd Folland Individual 21. Feb 19 21. Feb 19 3,000 NOK108.00 NOK324,000
19. Feb 19 Buy Odd Folland Individual 18. Feb 19 18. Feb 19 2,000 NOK108.00 NOK216,000
26. Oct 18 Buy Odd Folland Individual 26. Oct 18 26. Oct 18 1,000 NOK110.00 NOK110,000
X
Management checks
We assess Sparebank 1 Nordvest'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 Nordvest 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.

News

Simply Wall St News

Is It Worth Buying Sparebank 1 Nordvest (OB:SNOR) For Its 5.7% Dividend Yield?

Dividend paying stocks like Sparebank 1 Nordvest (OB:SNOR) 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. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Sparebank 1 Nordvest has grown its earnings per share at 116% per annum over the past five years. … Conclusion To summarise, shareholders should always check that Sparebank 1 Nordvest's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Have Insiders Been Buying Sparebank 1 Nordvest (OB:SNOR) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Sparebank 1 Nordvest (OB:SNOR). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for Sparebank 1 Nordvest The Last 12 Months Of Insider Transactions At Sparebank 1 Nordvest While no particular insider transaction stood out, we can still look at the overall trading. … OB:SNOR Recent Insider Trading, May 31st 2019 Sparebank 1 Nordvest is not the only stock insiders are buying.

Simply Wall St -

Is Sparebank 1 Nordvest's (OB:SNOR) Stock Available For A Good Price After Accounting For Growth?

Sparebank 1 Nordvest (OB:SNOR) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of NOK107 is based on unrealistic expectations. … Check out our latest analysis for Sparebank 1 Nordvest? … Sparebank 1 Nordvest is poised for significantly high earnings growth in the near future

Simply Wall St -

Should Sparebank 1 Nordvest (OB:SNOR) Be Part Of Your Dividend Portfolio?

Sparebank 1 Nordvest (OB:SNOR) has started paying a dividend to shareholders. … Does Sparebank 1 Nordvest tick all the boxes of a great dividend stock? … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

What Kind Of Shareholder Appears On The Sparebank 1 Nordvest's (OB:SNOR) Shareholder Register?

Every investor in Sparebank 1 Nordvest (OB:SNOR) should be aware of the most powerful shareholder groups. … Our analysis of the ownership of the company, below, shows that. … View our latest analysis for Sparebank 1 Nordvest

Simply Wall St -

Three Understated Metrics For Sparebank 1 Nordvest (OB:SNOR) You Should Know

As a small-cap bank stock with a market capitalisation of øre238m, Sparebank 1 Nordvest’s (OB:SNOR) risk and profitability are largely determined by the underlying economic growth of the NO regions in which it operates. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like Sparebank 1 Nordvest to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place Sparebank 1 Nordvest in a safe position in the face of adverse headwinds.

Simply Wall St -

Need To Know: Sparebank 1 Nordvest (OB:SNOR) Insiders Have Been Buying Shares

So we'll take a look at whether insiders have been buying or selling shares in Sparebank 1 Nordvest (OB:SNOR). … Sparebank 1 Nordvest Insider Transactions Over The Last Year. … Overall, Sparebank 1 Nordvest insiders were net buyers last year

Simply Wall St -

These Factors Make Sparebank 1 Nordvest (OB:SNOR) An Interesting Investment

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.

Simply Wall St -

Should You Be Concerned About Sparebank 1 Nordvest’s (OB:SNOR) Liquidity?

As a small-cap bank stock with a market capitalisation of øre251.25m, Sparebank 1 Nordvest’s (OB:SNOR) risk and profitability are largely determined by the underlying economic growth of the NO regions in which it operates. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like Sparebank 1 Nordvest to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place Sparebank 1 Nordvest in a safe position in the face of adverse headwinds.

Simply Wall St -

Sparebank 1 Nordvest (OB:SNOR) Delivered A Better ROE Than The Industry, Here’s Why

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to begin learning the link between company’s fundamentals and stock market performance. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden

Simply Wall St -

Company Info

Description

Sparebank 1 Nordvest provides various banking services in Norway. The company offers savings and deposit accounts; car, motorcycle, boat, and construction loans; and mortgages. It also provides business insurance products, which include liability, auto, mortgage, operating loss, asset, commercial, and project insurance products; personal insurance products, such as life, travel, and accidental insurance products; pension products; bank cards; payment and debt collection services; and mobile and online banking services. In addition, the company offers bank guarantees, trade credit products, and operating credit products for agriculture, as well as factoring, leasing, and repayment products and services. The company was founded in 1835 and is based in Kristiansund, Norway. Sparebank 1 Nordvest is a subsidiary of SpareBank 1 Gruppen AS.

Details
Name: Sparebank 1 Nordvest
SNOR
Exchange: OB
Founded: 1835
NOK242,295,624
2,243,478
Website: http://www.sparebank1.no/nb/nordvest
Address: Sparebank 1 Nordvest
Langveien 21,
Kristiansund,
Møre og Romsdal, 6501,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SNOR Equity Capital Certificates Oslo Bors NO NOK 02. Oct 2017
Number of employees
Current staff
Staff numbers
0
Sparebank 1 Nordvest employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 21:48
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/08/26
Last earnings filing: 2019/08/13
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.