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Sparebanken Øst

OB:SPOG
Snowflake Description

Established dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPOG
OB
NOK1B
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

Sparebanken Øst operates as a savings bank in Eastern Norway. The last earnings update was 69 days ago. More info.


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SPOG Share Price and Events
7 Day Returns
0%
OB:SPOG
2.8%
NO Banks
1.6%
NO Market
1 Year Returns
-3.7%
OB:SPOG
-5.9%
NO Banks
-8.3%
NO Market
SPOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sparebanken Øst (SPOG) 0% 0% -3.3% -3.7% 13.4% 7.3%
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
  • SPOG outperformed the Banks industry which returned -5.9% over the past year.
  • SPOG outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
SPOG
Industry
5yr Volatility vs Market

SPOG Value

 Is Sparebanken Øst 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 Sparebanken Øst 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 Sparebanken Øst.

OB:SPOG 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
= NOK61.25 * 9.1%
NOK5.59
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. NOK61.25
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:SPOG
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%) (2131.82%))
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:SPOG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Sparebanken Øst 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:SPOG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.1% – 9.21%) * NOK61.25)
NOK-0.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-0.05 / (9.21% - 1.76%)
NOK-0.68
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK61.25 + NOK-0.68
NOK60.58
OB:SPOG Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK60.58
Current discount Discount to share price of NOK52.60
= -1 x (NOK52.60 - NOK60.58) / NOK60.58
13.2%

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

Current Discount
Amount off the current price Sparebanken Øst is available for.
Intrinsic value
13%
Share price is NOK52.6 vs Future cash flow value of NOK60.58
Current Discount Checks
For Sparebanken Øst to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sparebanken Øst's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Sparebanken Øst'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 Sparebanken Øst's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sparebanken Øst's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:SPOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK5.24
OB:SPOG Share Price ** OB (2019-09-19) in NOK NOK52.6
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 Sparebanken Øst.

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

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

= 52.6 ÷ 5.24

10.03x

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

  • Sparebanken Øst is overvalued based on earnings compared to the NO Banks industry average.
  • Sparebanken Øst is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does Sparebanken Øst's expected growth come at a high price?
Raw Data
OB:SPOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
12.8%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:SPOG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.03x ÷ 12.8%

0.78x

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

  • Sparebanken Øst is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sparebanken Øst's assets?
Raw Data
OB:SPOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK191.38
OB:SPOG Share Price * OB (2019-09-19) in NOK NOK52.6
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:SPOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 52.6 ÷ 191.38

0.27x

* Primary Listing of Sparebanken Øst.

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

  • Sparebanken Øst is good value based on assets compared to the NO Banks industry average.
X
Value checks
We assess Sparebanken Øst'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. Sparebanken Øst 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.

SPOG Future Performance

 How is Sparebanken Øst expected to perform in the next 1 to 3 years based on estimates from 4 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
12.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sparebanken Øst expected to grow at an attractive rate?
  • Sparebanken Øst's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Sparebanken Øst's earnings growth is positive but not above the Norway market average.
  • Sparebanken Øst's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:SPOG Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:SPOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 12.8%
OB:SPOG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 6.5%
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:SPOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:SPOG Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 311
2021-12-31 812 336 3
2020-12-31 778 318 3
2019-12-31 708 289 3
2019-09-19
OB:SPOG Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 708 -3,568 109
2019-03-31 728 -4,221 118
2018-12-31 740 -4,424 125
2018-09-30 757 -2,656 137
2018-06-30 713 -1,965 118
2018-03-31 716 -1,598 119
2017-12-31 725 -1,229 120
2017-09-30 717 -824 123
2017-06-30 712 -708 124
2017-03-31 731 -1,268 128
2016-12-31 712 -1,182 125
2016-09-30 698 -2,198 117

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sparebanken Øst's earnings are expected to grow by 12.8% yearly, however this is not considered high growth (20% yearly).
  • Sparebanken Øst's revenue is expected to grow by 6.5% 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:SPOG 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 4 Analyst Estimates (S&P Global) See Below

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

OB:SPOG Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 5.04 5.94 4.38 4.00
2020-12-31 4.90 5.75 4.32 4.00
2019-12-31 4.55 5.32 4.21 4.00
2019-09-19
OB:SPOG Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 5.24
2019-03-31 5.67
2018-12-31 6.02
2018-09-30 6.60
2018-06-30 5.69
2018-03-31 5.74
2017-12-31 5.81
2017-09-30 5.93
2017-06-30 5.98
2017-03-31 6.16
2016-12-31 6.02
2016-09-30 5.62

*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.
  • Sparebanken Øst is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sparebanken Øst'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.
Sparebanken Øst 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.

SPOG Past Performance

  How has Sparebanken Øst 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 Sparebanken Øst'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.
  • Sparebanken Øst's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Sparebanken Øst's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Sparebanken Øst's 1-year earnings growth is negative, it can't be compared to the NO Banks industry average.
Earnings and Revenue History
Sparebanken Øst'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 Sparebanken Øst Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:SPOG Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 708.10 108.70 243.90
2019-03-31 728.00 117.50 245.30
2018-12-31 740.00 124.70 237.20
2018-09-30 756.70 136.86 226.80
2018-06-30 713.40 118.00 221.10
2018-03-31 715.50 119.10 220.20
2017-12-31 724.50 120.40 223.70
2017-09-30 716.50 122.88 221.70
2017-06-30 712.20 124.00 222.00
2017-03-31 730.70 127.70 224.20
2016-12-31 711.70 124.80 221.90
2016-09-30 698.20 116.51 230.20
2016-06-30 662.10 104.30 234.40
2016-03-31 608.50 90.60 232.30
2015-12-31 628.80 99.30 234.80
2015-09-30 638.20 -112.90 234.10
2015-06-30 811.20 76.20 233.60
2015-03-31 821.40 123.50 236.60
2014-12-31 829.20 177.70 235.70
2014-09-30 840.60 276.60 239.10
2014-06-30 711.10 145.20 239.30
2014-03-31 718.90 153.10 238.20
2013-12-31 682.70 122.40 238.80
2013-09-30 666.40 131.90 236.40
2013-06-30 666.80 131.60 237.00
2013-03-31 642.00 110.70 240.50
2012-12-31 652.40 118.00 241.90
2012-09-30 588.90 130.20 243.70

*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.
  • Sparebanken Øst has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sparebanken Øst used its assets less efficiently than the NO Banks industry average last year based on Return on Assets.
  • Unable to establish if Sparebanken Øst 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 Sparebanken Øst'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.
Sparebanken Øst has a total score of 0/6, 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.

SPOG Health

 How is Sparebanken Øst'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 Sparebanken Øst'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 Sparebanken Øst Company Filings, last reported 2 months ago.

OB:SPOG Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 3,967.50 23,193.40 721.50
2019-03-31 3,885.70 23,152.80 478.70
2018-12-31 3,944.20 22,701.90 834.60
2018-09-30 4,027.70 20,405.80 497.70
2018-06-30 3,767.80 20,381.90 884.30
2018-03-31 3,665.00 19,775.10 1,006.80
2017-12-31 3,736.00 18,936.00 662.60
2017-09-30 3,307.30 19,029.20 699.40
2017-06-30 3,230.10 19,137.70 1,022.70
2017-03-31 3,129.60 19,369.00 716.10
2016-12-31 3,176.10 18,455.80 705.40
2016-09-30 3,090.00 18,641.90 790.20
2016-06-30 3,012.60 18,309.10 877.50
2016-03-31 2,915.70 18,425.90 878.90
2015-12-31 2,951.10 18,126.90 913.70
2015-09-30 2,855.00 17,056.30 757.90
2015-06-30 2,811.40 16,604.50 1,027.30
2015-03-31 2,743.80 17,942.00 1,009.90
2014-12-31 2,765.70 18,520.30 1,122.60
2014-09-30 2,738.40 18,679.90 782.50
2014-06-30 2,663.20 18,796.60 918.00
2014-03-31 2,589.50 16,643.40 713.00
2013-12-31 2,527.90 15,823.10 659.80
2013-09-30 2,282.30 15,472.20 792.70
2013-06-30 2,207.50 15,556.90 1,028.90
2013-03-31 2,131.00 15,162.40 1,100.50
2012-12-31 2,132.70 15,510.10 1,462.30
2012-09-30 2,060.60 15,995.70 1,625.30
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.
  • Sparebanken Øst has an acceptable proportion of non-loan assets held.
  • Sparebanken Øst's liabilities are made up of primarily higher risk sources of funding.
  • Sparebanken Øst has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Sparebanken Øst's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Sparebanken Øst has a low allowance for bad loans.
  • Sparebanken Øst has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Sparebanken Øst'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. Sparebanken Øst 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.

SPOG Dividends

 What is Sparebanken Øst'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
8.75%
Current annual income from Sparebanken Øst dividends. Estimated to be 7.45% next year.
If you bought NOK2,000 of Sparebanken Øst shares you are expected to receive NOK175 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?
  • Sparebanken Øst's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • Sparebanken Øst's dividend is above the markets top 25% of dividend payers in Norway (6.4%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OB:SPOG 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 4 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:SPOG Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 4.00 4.00
2020-12-31 3.93 4.00
2019-12-31 3.83 4.00
2019-09-19
OB:SPOG Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-03-06 4.600 8.426
2019-02-13 4.600 7.775
2018-03-01 5.000 9.035
2018-02-07 5.000 8.546
2017-03-09 4.000 7.371
2017-02-08 4.000 7.200
2016-03-10 3.300 6.904
2016-02-10 3.300 6.765
2015-03-12 5.000 9.691
2015-02-11 5.000 8.887
2014-03-17 3.000 6.242
2014-02-12 3.000 6.661
2013-03-14 3.000 7.511
2013-02-27 3.000 7.479
2012-05-18 2.000 6.421
2012-02-15 2.000 6.326
2011-03-10 5.000 14.517
2011-02-16 5.000 11.815
2010-10-26 4.000 10.079
2010-07-15 4.000 11.715
2010-04-27 4.000 12.968
2010-03-10 4.000 10.948
2009-06-30 0.000 0.000
2009-03-31 0.000 0.000
2009-02-18 0.000 0.000
2009-01-02 0.000 0.000

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 Sparebanken Øst's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Sparebanken Øst'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 Sparebanken Øst afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sparebanken Øst has a total score of 5/6, see the detailed checks below.


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

SPOG Management

 What is the CEO of Sparebanken Øst'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
Pål Strand
COMPENSATION NOK3,035,000
AGE 54
TENURE AS CEO 8.2 years
CEO Bio

Mr. Pål Strand serves as Managing Director of Sparebanken Øst. He was appointed as the Chief Executive Officer of Sparebanken Øst on July 1, 2011. Mr. Strand served as its Director of Private & Corporate Market at and Director of Retail & Corporate Market. He was Vice Chairman and Director at Sparebanken Øst Boligkreditt AS.

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

Average tenure and age of the Sparebanken Øst management team in years:

1.5
Average Tenure
54
Average Age
  • The average tenure for the Sparebanken Øst management team is less than 2 years, this suggests a new team.
Management Team

Pål Strand

TITLE
Managing Director
COMPENSATION
NOK3M
AGE
54
TENURE
8.2 yrs

Thor-Henning Bråthen

TITLE
Chief Financial Officer
COMPENSATION
NOK2M
AGE
38
TENURE
2.1 yrs

Anne Siri Jensen

TITLE
Director of Credit Person Market & Trustee
COMPENSATION
NOK4M
AGE
58
TENURE
0.9 yrs

Kjell Engen

TITLE
Deputy CEO
COMPENSATION
NOK2M
AGE
50

Halvor Kirkebøen

TITLE
Head of Management & Control Department
COMPENSATION
NOK2M
AGE
64

Arnljot Lien

TITLE
Director of Technology
COMPENSATION
NOK1M
AGE
54
TENURE
0.5 yrs

Arne Stokke

TITLE
Director
COMPENSATION
NOK15K
AGE
73
Board of Directors Tenure

Average tenure and age of the Sparebanken Øst board of directors in years:

1.6
Average Tenure
60
Average Age
  • The average tenure for the Sparebanken Øst board of directors is less than 3 years, this suggests a new board.
Board of Directors

Øivind Andersson

TITLE
Chair of the Board of Directors
COMPENSATION
NOK353K
AGE
63
TENURE
2.5 yrs

Morten Yttreeide

TITLE
Deputy Chairman of the Board
COMPENSATION
NOK190K
AGE
52
TENURE
0.7 yrs

Anne Siri Jensen

TITLE
Director of Credit Person Market & Trustee
COMPENSATION
NOK4M
AGE
58

Frank Borgen

TITLE
Chair of Trustees

Tom Svendsen

TITLE

Lars Lunde

TITLE
Deputy Chair of Trustees

Jorund Indrelid

TITLE
Director
COMPENSATION
NOK226K
AGE
60
TENURE
0.7 yrs

Arne Stokke

TITLE
Director
COMPENSATION
NOK15K
AGE
73
TENURE
0.7 yrs

Th Thoresen

TITLE
Director
COMPENSATION
NOK155K
AGE
62
TENURE
7.7 yrs

Ole-Martin Solberg

TITLE
Employee Representative Director
COMPENSATION
NOK721K
AGE
41
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Sparebanken Øst individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
12. Sep 19 Buy Øivind Andersson Individual 12. Sep 19 12. Sep 19 5,000 NOK52.60 NOK263,000
10. Dec 18 Buy Magne Borgersen Individual 07. Dec 18 07. Dec 18 1,300 NOK54.00 NOK70,200
28. Nov 18 Sell Elly Thoresen Individual 20. Nov 18 20. Nov 18 -18 NOK54.40 NOK-979
28. Nov 18 Buy Elly Thoresen Individual 26. Nov 18 26. Nov 18 360 NOK55.40 NOK19,944
26. Nov 18 Buy Magne Borgersen Individual 14. Nov 18 14. Nov 18 67 NOK55.00 NOK3,685
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Management checks
We assess Sparebanken Øst'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. Sparebanken Øst 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.

SPOG News

Simply Wall St News

What Kind Of Shareholder Owns Most Sparebanken Øst (OB:SPOG) Stock?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' With a market capitalization of kr1.1b, Sparebanken Øst is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Sparebanken Øst OB:SPOG Ownership Summary, August 30th 2019 What Does The Institutional Ownership Tell Us About Sparebanken Øst? … We can see that Sparebanken Øst does have institutional investors; and they hold 20% of the stock.

Simply Wall St -

Is Sparebanken Øst's (OB:SPOG) CEO Paid At A Competitive Rate?

See our latest analysis for Sparebanken Øst How Does Pål Strand's Compensation Compare With Similar Sized Companies? … According to our data, Sparebanken Øst has a market capitalization of kr1.1b, and pays its CEO total annual compensation worth kr3.0m. … Boasting a total shareholder return of 52% over three years, Sparebanken Øst has done well by shareholders.

Simply Wall St -

Should Sparebanken Øst (OB:SPOG) Be Disappointed With Their 24% Profit?

For example, the Sparebanken Øst (OB:SPOG) share price return of 24% over three years lags the market return in the same period. … There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Sparebanken Øst was able to grow its EPS at 9.1% per year over three years, sending the share price higher.

Simply Wall St -

Is Sparebanken Øst (OB:SPOG) A Great Dividend Stock?

The first recorded dividend for Sparebanken Øst, in the last decade, was nine years ago. … Unfortunately, earnings growth has also been mediocre, and the company has cut its dividend at least once in the past. … See if the 4 Sparebanken Øst analysts we track are forecasting continued growth with our free report on analyst estimates for the company.

Simply Wall St -

What Percentage Of Sparebanken Øst (OB:SPOG) Shares Do Insiders Own?

The big shareholder groups in Sparebanken Øst (OB:SPOG) have power over the company. … With a market capitalization of øre1.1b, Sparebanken Øst is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Sparebanken Øst

Simply Wall St -

Did Sparebanken Øst (OB:SPOG) Insiders Buy Up More Shares?

So before you buy or sell Sparebanken Øst (OB:SPOG), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Sparebanken Øst. … In the last twelve months there was more buying than selling by Sparebanken Øst insiders

Simply Wall St -

What To Know Before Buying Sparebanken Øst (OB:SPOG) For Its Dividend

Historically, Sparebanken Øst (OB:SPOG) has paid a dividend to shareholders. … Let's dig deeper into whether Sparebanken Øst should have a place in your portfolio. … Check out our latest analysis for Sparebanken Øst

Simply Wall St -

Sparebanken Øst (OB:SPOG): What Can We Expect In The Future?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … Looking at Sparebanken Øst's (OB:SPOG) recent earnings update on 31 December 2018,

Simply Wall St -

Sparebanken Øst (OB:SPOG) Is Undervalued By 10.61%

Given that these companies adhere to a different set of rules relative to other companies, their cash flows should also be valued differently. … For example, banks are required to hold more capital to reduce the risk to depositors.

Simply Wall St -

Should Sparebanken Øst (OB:SPOG) Be Part Of Your Portfolio?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Sparebanken Øst (OB:SPOG) has been paying a dividend to shareholders. … Let's dig deeper into whether Sparebanken Øst should have a place in your portfolio.

Simply Wall St -

SPOG Company Info

Description

Sparebanken Øst operates as a savings bank in Eastern Norway. The company offers financial products, such as savings, credit, and payment products; mortgages on homes; and debenture financing for second-hand cars, as well as services in the areas of financing, savings and investment, and money-transfer. It also distributes insurance, fund shares, interest rate hedging, currency, and letters of credit, as well as operates, manages, and sells real estate properties. The company was founded in 1843 and is headquartered in Drammen, Norway.

Details
Name: Sparebanken Øst
SPOG
Exchange: OB
Founded: 1843
NOK1,090,460,225
20,731,183
Website: http://www.oest.no
Address: Sparebanken Øst
Bragernes Torg 2,
Drammen,
Buskerud, Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SPOG Primary Capital Certificates Oslo Bors NO NOK 20. Oct 1993
Number of employees
Current staff
Staff numbers
199
Sparebanken Øst employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 20:44
End of day share price update: 2019/09/19 00:00
Last estimates confirmation: 2019/09/04
Last earnings filing: 2019/07/12
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.