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Surnadal Sparebank

OB:SUSB-ME
Snowflake Description

Undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SUSB-ME
OB
NOK150M
Market Cap
  1. Home
  2. NO
  3. Banks
Company description

Surnadal Sparebank AS, an independent savings bank, provides loans, placement, self-service solutions, cards, insurance, and real estate services to individuals and businesses in Norway. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
SUSB-ME Share Price and Events
7 Day Returns
0.9%
OB:SUSB-ME
2.8%
NO Banks
1.6%
NO Market
1 Year Returns
2.7%
OB:SUSB-ME
-5.9%
NO Banks
-8.3%
NO Market
SUSB-ME Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Surnadal Sparebank (SUSB-ME) 0.9% -1.7% 0.9% 2.7% - -
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
  • SUSB-ME outperformed the Banks industry which returned -5.9% over the past year.
  • SUSB-ME outperformed the Market in Norway which returned -8.3% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

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

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

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

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

OB:SUSB-ME Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NOK479.42 * 7.8%
NOK37.45
Book Value of Equity per Share Median Book Value from the past 5 years. NOK479.42
Discount Rate (Cost of Equity) See below 13.7%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

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

Calculation of Discount Rate/ Cost of Equity for OB:SUSB-ME
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.604 (1 + (1- 23%) (878.66%))
3.473
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (2 * 5.96%)
13.68%

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

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

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

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

Note the calculations below are per share.

See our documentation to learn about this calculation.

OB:SUSB-ME Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.8% – 13.68%) * NOK479.42)
NOK-28.13
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK-28.13 / (13.68% - 1.76%)
NOK-236.01
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK479.42 + NOK-236.01
NOK243.41
OB:SUSB-ME Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK243.41
Current discount Discount to share price of NOK114.00
= -1 x (NOK114.00 - NOK243.41) / NOK243.41
53.2%

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

Current Discount
Amount off the current price Surnadal Sparebank is available for.
Intrinsic value
>50%
Share price is NOK114 vs Future cash flow value of NOK243.41
Current Discount Checks
For Surnadal Sparebank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Surnadal Sparebank's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Surnadal Sparebank's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Surnadal Sparebank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Surnadal Sparebank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:SUSB-ME PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK44.84
OB:SUSB-ME Share Price ** OB (2019-09-19) in NOK NOK114
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 Surnadal Sparebank.

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

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

= 114 ÷ 44.84

2.54x

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

  • Surnadal Sparebank is good value based on earnings compared to the NO Banks industry average.
  • Surnadal Sparebank is good value based on earnings compared to the Norway market.
Price based on expected Growth
Does Surnadal Sparebank's expected growth come at a high price?
Raw Data
OB:SUSB-ME PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.3%per year
Norway Banks Industry PEG Ratio Median Figure of 29 Publicly-Listed Banks Companies 0.63x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.77x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Surnadal Sparebank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Surnadal Sparebank's assets?
Raw Data
OB:SUSB-ME PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK488.04
OB:SUSB-ME Share Price * OB (2019-09-19) in NOK NOK114
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:SUSB-ME PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 114 ÷ 488.04

0.23x

* Primary Listing of Surnadal Sparebank.

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

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

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

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

Future Performance

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

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Surnadal Sparebank expected to grow at an attractive rate?
  • Surnadal Sparebank's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Surnadal Sparebank's earnings growth is positive but not above the Norway market average.
  • Unable to compare Surnadal Sparebank's revenue growth to the Norway market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OB:SUSB-ME Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:SUSB-ME Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.3%
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:SUSB-ME Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:SUSB-ME Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 143 59
2019-03-31 136 54
2018-12-31 132 139 51
2018-09-30 131 49
2018-06-30 128 45
2018-03-31 124 45
2017-12-31 120 -283 43
2017-09-30 116 45
2017-06-30 113 44
2017-03-31 111 40
2016-12-31 107 -160 37

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Surnadal Sparebank's earnings are expected to grow by 8.3% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Surnadal Sparebank is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:SUSB-ME Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

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

OB:SUSB-ME Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 44.84
2019-03-31 41.00
2018-12-31 39.07
2018-09-30
2018-06-30
2018-03-31
2017-12-31 76.38
2017-09-30
2017-06-30
2017-03-31
2016-12-31

*GAAP earnings excluding extraordinary items.

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

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

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

Past Performance

  How has Surnadal Sparebank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Surnadal Sparebank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Surnadal Sparebank's year on year earnings growth rate has been positive over the past 5 years.
  • Surnadal Sparebank's 1-year earnings growth exceeds its 5-year average (30.9% vs 14.2%)
  • Surnadal Sparebank's earnings growth has exceeded the NO Banks industry average in the past year (30.9% vs 13.3%).
Earnings and Revenue History
Surnadal Sparebank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

OB:SUSB-ME Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 143.31 58.98 51.87
2019-03-31 135.85 53.92 51.65
2018-12-31 132.40 51.39 50.94
2018-09-30 131.10 49.05 53.37
2018-06-30 127.57 45.06 54.26
2018-03-31 124.34 44.97 50.95
2017-12-31 120.46 43.18 49.97
2017-09-30 115.99 44.55 49.60
2017-06-30 113.47 44.31 48.46
2017-03-31 110.99 39.66 49.19
2016-12-31 106.87 36.86 48.83
2015-12-31 97.13 29.67 44.55
2014-12-31 95.20 30.47 43.31
2013-12-31 83.54 24.38 38.55
2012-12-31 71.76 17.15 36.09

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

Health

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

This company is a bank or financial institution.

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

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

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

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

OB:SUSB-ME Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 641.94 1,317.54 42.34
2019-03-31 619.26 1,268.91 40.35
2018-12-31 607.57 1,366.13 176.03
2018-09-30 604.91 1,466.04 68.07
2018-06-30 592.84 1,366.22 70.21
2018-03-31 575.56 1,366.13 70.69
2017-12-31 490.14 1,493.05 152.24
2017-09-30 486.08 1,232.61 66.12
2017-06-30 478.70 1,332.64 69.07
2017-03-31 461.23 1,245.88 52.74
2016-12-31 453.82 1,132.73 95.92
2015-12-31 363.22 1,002.66 66.60
2014-12-31 335.81 955.50 137.94
2013-12-31 305.73 903.00 137.86
2012-12-31 281.89 840.00 62.63
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.
  • Surnadal Sparebank has an acceptable proportion of non-loan assets held.
  • Surnadal Sparebank's liabilities are made up of primarily low risk sources of funding.
  • Loans at Surnadal Sparebank are broadly funded by customer deposits.
  • Surnadal Sparebank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if Surnadal Sparebank has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if Surnadal Sparebank has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess Surnadal Sparebank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Surnadal Sparebank has a total score of 4/6, 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 Surnadal Sparebank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.14%
Current annual income from Surnadal Sparebank dividends.
If you bought NOK2,000 of Surnadal Sparebank shares you are expected to receive NOK123 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?
  • Surnadal Sparebank's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.54%).
  • Surnadal Sparebank's dividend is below the markets top 25% of dividend payers in Norway (6.4%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

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

Industry and Market average data is calculated daily.

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

OB:SUSB-ME Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-07 7.000 6.111
2018-05-04 0.000 0.000

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

  • It is too early to tell whether Surnadal Sparebank has stable dividend payments.
  • Surnadal Sparebank only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Surnadal Sparebank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Surnadal Sparebank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Surnadal Sparebank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Surnadal Sparebank has a total score of 2/6, 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 Surnadal Sparebank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Allan Troelsen
COMPENSATION NOK1,827,000
AGE 52
TENURE AS CEO 19.7 years
CEO Bio

Mr. Allan Troelsen has been Chief Executive Officer of Surnadal Sparebank since 2000. Mr. Troelsen served as Development Manager and Sales/Marketing Director at Superior Systems AS/AkvaGroup ASA. He has been the Chairman of the Board of Directors and Director of Eika Gruppen AS since 2016 and 2012 respectively. Mr. Troelsen served as a Director of AKVA Group ASA since August 25, 2006. He holds MA in Strategy and Leadership from BI Norwegian Business School, Oslo.

CEO Compensation
  • Allan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Allan's remuneration is lower than average for companies of similar size in Norway.
Management Team

Allan Troelsen

TITLE
Chief Executive Officer
COMPENSATION
NOK2M
AGE
52
TENURE
19.7 yrs

Karina Wigum

TITLE
Administrative Manager

Ole Løwe

TITLE
Head of Corporate Market

Tone Hammer

TITLE
Head of Private Market
Board of Directors

Inger Grete Lundemo

TITLE
Chairman
COMPENSATION
NOK244K

Halvard Fjeldvær

TITLE
Vice Chairman of the Board
COMPENSATION
NOK73K

Harald Moen

TITLE
Director
COMPENSATION
NOK75K

Lars Kvande

TITLE
Director
COMPENSATION
NOK77K

Heid-Ariane Snekvik

TITLE
Director
COMPENSATION
NOK75K
TENURE
3.5 yrs

Odd Skralthaug

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


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

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

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

News

Simply Wall St News

Do Institutions Own Surnadal Sparebank (OB:SUSB-ME) Shares?

We can see that Surnadalrebank does have institutional investors; and they hold 9.4% of the stock. … General Public Ownership The general public, who are mostly retail investors, collectively hold 64% of Surnadalrebank shares. … Private Company Ownership Our data indicates that Private Companies hold 7.0%, of the company's shares.

Simply Wall St -

Is Surnadal Sparebank AS (OB:SUSB-ME) A Great Dividend Stock?

Today we'll take a closer look at Surnadal Sparebank AS (OB:SUSB-ME) from a dividend investor's perspective. … Some readers mightn't know much about Surnadalrebank's 6.1% dividend, as it has only been paying distributions for a year or so. … OB:SUSB-ME Historical Dividend Yield, April 18th 2019

Simply Wall St -

What Kind Of Shareholder Owns Most Surnadal Sparebank AS (OB:SUSB-ME) Stock?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … With a market capitalization of øre153m, Surnadalrebank is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Surnadalrebank

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Is Surnadal Sparebank AS (OB:SUSB-ME) A Buy At Its Current PE Ratio?

I am writing today to help inform people who are new to the stock market. … and want to begin learning the link between Surnadal Sparebank AS (OB:SUSB-ME)’s fundamentals and stock market performance. … While this makes SUSB-ME appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio

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With An ROE Of 8.81%, Can Surnadal Sparebank AS (OB:SUSB-ME) Catch Up To The Industry?

View our latest analysis for Surnadalrebank Peeling the layers of ROE – trisecting a company’s profitability Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity OB:SUSB-ME Last Perf May 16th 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

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Company Info

Description

Surnadal Sparebank AS, an independent savings bank, provides loans, placement, self-service solutions, cards, insurance, and real estate services to individuals and businesses in Norway. It offers payment solutions, such as bank cards, credits, and mobile and online banking; insurance solutions, such as children, auto, death fall, health, buildings, holiday home, income, critical health, disability, and other insurance; loans, such as car loans, mortgages, loans to other vehicles, credit lines, and small loans; and share savings accounts, bank savings, BSU, fund savings, IPS, and retirement savings and pension accounts to private customers. The company also provides payment and card solutions, credit, and payment terminals; financing services, such as bank guarantees, overdrafts, leasing, and corporate loans; liability, customer's, cyber, farmhouse agriculture, operating equipment and crop, property, health, landlord, craft, commercial, personal, travel, big car, goods during transport, and occupational injuries insurance, as well as home insurance agriculture products; and other accounts to businesses in construction, property, trade and services, and agriculture sectors. Surnadal Sparebank AS was founded in 1842 and is based in Surnadal, Norway with additional offices in Surnadal, Kristiansund, and Trondheim.

Details
Name: Surnadal Sparebank
SUSB-ME
Exchange: OB
Founded: 1842
NOK149,949,330
1,315,345
Website: http://www.bank.no
Address: Surnadal Sparebank
Bårdshaugvegen 7,
Surnadal,
Møre og Romsdal, 6650,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SUSB-ME Equity Certificates Oslo Bors NO NOK 06. Apr 2018
Number of employees
Current staff
Staff numbers
0
Surnadal Sparebank employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/19 21:53
End of day share price update: 2019/09/19 00:00
Last earnings filing: 2019/08/09
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.