Reported Earnings • Apr 15
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: kr9.61 (down from kr10.02 in FY 2024). Revenue: kr2.34b (down 1.6% from FY 2024). Net income: kr476.0m (down 3.8% from FY 2024). Profit margin: 20% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 02
Upcoming dividend of kr7.00 per share Eligible shareholders must have bought the stock before 09 April 2026. Payment date: 17 April 2026. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 6.0%. Lower than top quartile of Norwegian dividend payers (7.5%). In line with average of industry peers (5.9%). Declared Dividend • Mar 15
Dividend increased to kr7.00 Dividend of kr7.00 is 12% higher than last year. Ex-date: 9th April 2026 Payment date: 17th April 2026 Dividend yield will be 5.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (73% payout ratio) and is expected to be covered in 3 years' time (77% forecast payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 30
Sparebanken Møre, Annual General Meeting, Apr 08, 2026 Sparebanken Møre, Annual General Meeting, Apr 08, 2026. Reported Earnings • Oct 24
Third quarter 2025 earnings: Revenues exceed analyst expectations Third quarter 2025 results: Revenue: kr589.0m (down 3.3% from 3Q 2024). Net income: kr258.0m (up 96% from 3Q 2024). Profit margin: 44% (up from 22% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.7%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Banks industry in Norway. Reported Earnings • Aug 17
Second quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2025 results: EPS: kr4.90 (up from kr2.85 in 2Q 2024). Revenue: kr569.0m (down 12% from 2Q 2024). Net income: kr243.0m (up 74% from 2Q 2024). Profit margin: 43% (up from 22% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Anne Vatne was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 02
First quarter 2025 earnings: Revenues miss analyst expectations First quarter 2025 results: Revenue: kr554.0m (down 1.2% from 1Q 2024). Net income: kr217.0m (up 81% from 1Q 2024). Profit margin: 39% (up from 21% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.7%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Norway. Upcoming Dividend • Apr 03
Upcoming dividend of kr6.25 per share Eligible shareholders must have bought the stock before 10 April 2025. Payment date: 23 April 2025. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 6.2%. Lower than top quartile of Norwegian dividend payers (8.8%). In line with average of industry peers (6.0%). Price Target Changed • Mar 25
Price target increased by 7.1% to kr105 Up from kr98.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of kr103. Stock is up 13% over the past year. The company is forecast to post earnings per share of kr9.83 for next year compared to kr9.95 last year. Declared Dividend • Mar 16
Dividend reduced to kr6.25 Dividend of kr6.25 is 17% lower than last year. Ex-date: 10th April 2025 Payment date: 23rd April 2025 Dividend yield will be 6.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (63% payout ratio) and is expected to be covered in 3 years' time (81% forecast payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 2.9% over the next 3 years. However, it would need to fall by 30% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 04
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: kr9.95. Revenue: kr2.38b (up 5.9% from FY 2023). Net income: kr502.0m (flat on FY 2023). Profit margin: 21% (down from 22% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.9%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Banks industry in Norway. Announcement • Nov 12
Sparebanken Møre, Annual General Meeting, Apr 09, 2025 Sparebanken Møre, Annual General Meeting, Apr 09, 2025. Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: kr2.66. Revenue: kr609.0m (up 13% from 3Q 2023). Net income: kr0 (down kr119.0m from profit in 3Q 2023). Profit margin: 0% (down from 22% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Revenue is forecast to stay flat during the next 3 years compared to a 1.6% growth forecast for the Banks industry in Norway. Reported Earnings • Aug 16
Second quarter 2024 earnings: Revenues exceed analyst expectations Second quarter 2024 results: Revenue: kr643.0m (up 18% from 2Q 2023). Net income: kr301.0m (up 149% from 2Q 2023). Profit margin: 47% (up from 22% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.1%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Norway. Reported Earnings • Apr 26
First quarter 2024 earnings: Revenues miss analyst expectations First quarter 2024 results: Revenue: kr561.0m (up 20% from 1Q 2023). Net income: kr241.0m (up 146% from 1Q 2023). Profit margin: 43% (up from 21% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 3.3%. Revenue is forecast to stay flat during the next 3 years compared to a 1.4% growth forecast for the Banks industry in Norway. Buy Or Sell Opportunity • Apr 04
Now 26% undervalued Over the last 90 days, the stock has risen 1.2% to kr85.00. The fair value is estimated to be kr115, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Upcoming Dividend • Mar 30
Upcoming dividend of kr7.50 per share Eligible shareholders must have bought the stock before 04 April 2024. Payment date: 12 April 2024. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 8.2%. Within top quartile of Norwegian dividend payers (7.7%). Higher than average of industry peers (7.2%). Declared Dividend • Mar 15
Dividend increased to kr7.50 Dividend of kr7.50 is 88% higher than last year. Ex-date: 4th April 2024 Payment date: 12th April 2024 Dividend yield will be 8.3%, which is higher than the industry average of 5.8%. Sustainability & Growth Dividend is covered by earnings (74% payout ratio) and is expected to be covered in 3 years' time (57% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.3% over the next 3 years. However, it would need to fall by 18% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jan 26
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: kr10.12 (up from kr7.53 in FY 2022). Revenue: kr2.25b (up 28% from FY 2022). Net income: kr1.06b (up 184% from FY 2022). Profit margin: 47% (up from 21% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.0%. Revenue is forecast to stay flat during the next 2 years compared to a 2.1% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Dec 07
Now 20% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be kr97.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 10% in 2 years. Earnings is forecast to grow by 113% in the next 2 years. Reported Earnings • Oct 30
Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2023 results: EPS: kr2.42 (up from kr1.82 in 3Q 2022). Revenue: kr541.0m (up 26% from 3Q 2022). Net income: kr253.0m (up 181% from 3Q 2022). Profit margin: 47% (up from 21% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.3%. The fair value is estimated to be kr94.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 8.2%. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 151% in the next 2 years. Buying Opportunity • Jun 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be kr93.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 8.2%. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 149% in the next 2 years. Buying Opportunity • May 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.5%. The fair value is estimated to be kr96.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 8.2%. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 147% in the next 2 years. Reported Earnings • May 03
First quarter 2023 earnings: Revenues miss analyst expectations First quarter 2023 results: Revenue: kr467.0m (up 21% from 1Q 2022). Net income: kr207.0m (up 162% from 1Q 2022). Profit margin: 44% (up from 20% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 5.2%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Banks industry in Norway. Buying Opportunity • Apr 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.0%. The fair value is estimated to be kr96.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 3.4%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. Upcoming Dividend • Mar 23
Upcoming dividend of kr4.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 12 April 2023. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Norwegian dividend payers (8.0%). Lower than average of industry peers (6.4%). Recent Insider Transactions • Mar 12
Insider recently bought kr70k worth of stock On the 9th of March, Erik Rokke bought around 810 shares on-market at roughly kr87.00 per share. This transaction increased Erik's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Jan 28
Sparebanken Møre Recommends Cash Dividend Sparebanken Møre recommended a cash dividend of NOK 4 per equity certificate and NOK 200 million in dividend funds for local communities. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 9 non-independent directors. Director Bjorn Folstad was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Director Bjorn Folstad was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 24
Upcoming dividend of kr16.00 per share Eligible shareholders must have bought the stock before 31 March 2022. Payment date: 08 April 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Norwegian dividend payers (5.9%). Lower than average of industry peers (4.8%). Reported Earnings • Jan 30
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: kr65.08 (up from kr27.17 in FY 2020). Revenue: kr1.48b (up 8.4% from FY 2020). Net income: kr642.0m (up 140% from FY 2020). Profit margin: 43% (up from 20% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 17%, compared to a 11% growth forecast for the banks industry in Norway. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 30
Price target increased to kr480 Up from kr448, the current price target is an average from 3 analysts. New target price is 16% above last closing price of kr415. Stock is up 40% over the past year. The company is forecast to post earnings per share of kr32.38 for next year compared to kr27.17 last year. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS kr8.60 (vs kr7.38 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr389.0m (up 12% from 3Q 2020). Net income: kr176.0m (up 135% from 3Q 2020). Profit margin: 45% (up from 22% in 3Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS kr6.85 (vs kr7.13 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: kr345.0m (flat on 2Q 2020). Net income: kr138.0m (up 92% from 2Q 2020). Profit margin: 40% (up from 21% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Price Target Changed • Aug 03
Price target increased to kr412 Up from kr382, the current price target is an average from 3 analysts. New target price is 9.5% above last closing price of kr376. Stock is up 24% over the past year. Reported Earnings • May 04
First quarter 2021 earnings released: EPS kr8.26 (vs kr5.46 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr376.0m (up 18% from 1Q 2020). Net income: kr170.0m (up 215% from 1Q 2020). Profit margin: 45% (up from 17% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 17
Upcoming Dividend of kr4.50 Per Share Will be paid on the 6th of April to those who are registered shareholders by the 24th of March. The trailing yield of 1.4% is below the top quartile of Norwegian dividend payers (4.9%), and is lower than industry peers (4.5%). Is New 90 Day High Low • Mar 03
New 90-day high: kr313 The company is up 6.0% from its price of kr294 on 03 December 2020. The Norwegian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr284 per share. Analyst Estimate Surprise Post Earnings • Feb 17
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.7%. Earnings per share (EPS) also missed analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 16%, compared to a 18% growth forecast for the Banks industry in Norway. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS kr27.10 (vs kr34.58 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr1.36b (down 12% from FY 2019). Net income: kr268.0m (down 21% from FY 2019). Profit margin: 20% (down from 22% in FY 2019). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 1.57% (down from 1.79% in FY 2019). Cost-to-income ratio: 41.6% (up from 40.2% in FY 2019). Non-performing loans: 1.56% (up from 1.52% in FY 2019). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Is New 90 Day High Low • Jan 07
New 90-day high: kr301 The company is up 2.0% from its price of kr295 on 09 October 2020. The Norwegian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr451 per share. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of kr285.0m, down 12% from the prior year. Total revenue was kr1.41b over the last 12 months, down 6.6% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 25
Third-quarter earnings released: Earnings beat expectations, revenue disappoints Third-quarter revenue missed analyst estimates by 5.1% at kr383.0m. Earnings per share (EPS) exceeded analyst estimates by 10% at kr7.38. Revenue is forecast to grow 16% over the next year, compared to a 24% growth forecast for the Banks industry in Norway. Analyst Estimate Surprise Post Earnings • Oct 22
Third-quarter earnings released: Earnings beat expectations, revenue disappoints Third-quarter revenue missed analyst estimates by 5.1% at kr383.0m. Earnings per share (EPS) exceeded analyst estimates by 10% at kr7.38. Revenue is forecast to grow 17% over the next year, compared to a 24% growth forecast for the Banks industry in Norway. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of kr237.0m, down 26% from the prior year. Total revenue was kr1.41b over the last 12 months, down 6.6% from the prior year. Is New 90 Day High Low • Oct 14
New 90-day low: kr285 The company is down 4.0% from its price of kr296 on 16 July 2020. The Norwegian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr242 per share.