SpareBank 1 Nord-Norge

Sparebanken Nord-Norge is engaged in the provision of financial products and services in North Norway. In addition to loans, deposits, payments transmission services, leasing and factoring, such financial products and services also include most savings products as well as life-and non-life insurance. Co. is active within the areas of real estate brokerage, trading in securities, active investment management, value assessment and other corporate services. Co. has 81 branches throughout North Norway. As of Dec 31 2008, Co.'s total assets were NOK65,507,000,000 and its total deposits were NOK34,572,000,000.
  • TickerNONG
  • ISINNO0006000801
  • ExchangeOslo Bors
  • SectorBanks
  • CountryNorway
Håkon Astrup

Near-term NII headwinds

The Norwegian macroeconomic outlook is gradually improving on a wide range of fiscal measures, seemingly protecting asset values and overall credit quality. Lower interest rates nonetheless put pressure on the sector’s NII, particularly near-term. We expect an improvement in the sector’s capital generation in Q2 2020 QOQ, and continue to consider Norwegian banks well-equipped to endure the ongoing economic slowdown. We reiterate our positive sector view, but now take a more nuanced stance – highlighting MING and SRBANK as our top picks.

SPB.1 NORD-NORGE ASA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SPB.1 NORD-NORGE ASA (NO), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 12, 2020, the closing price was NOK 62.80 and its potential was estimated at NOK 70.72.

Alexander Aukner ...
  • Håkon Astrup
  • Helene Kvilhaug Brøndbo
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Jan Erik Gjerland ...
  • Jonas Bru Lien

SpareBank 1 Nord-Norge - Q1 beat on LLPs, but margin pressure ahead

Q1’20: PTP NOK 448m, +15% vs. ABGSC, -16% vs. cons Adj. EPS chg.: +5% for ’20e, -4% for ’21e and -2% for ’21e TP down to NOK 64 (65) on EPS chg., reiterate HOLD

Håkon Astrup

Sparebank1 Nord-Norge (Buy, TP: NOK67.00) - Helping hand from lower NIBOR

Adjusted for a soft trading line, Q1 pre-tax profit was ~3% above our forecast, although NII fell short of our estimate. Despite this and a lowered growth outlook, we have raised our estimates given the positive outlook for funding costs in 2020e – leaving our 2021–2022e EPS up ~2%. We reiterate our BUY, and have raised our target price to NOK67 (65), considering the risk/reward attractive at a 2021e P/E of 8.3x.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

MSCI EAFE inflecting, aided by strength in Japan Developed international (MSCI EAFE, local currency) is displaying a change in trend, bullishly inflecting topside its downtrend and putting an end to the YTD pattern of lower highs. Despite this incrementally positive development, our outlook remains neutral for MSCI EAFE as there are still many additional resistance areas the index needs to overcome before we would turn outright bullish... see chart below. • Japan: Not too late to add exposure. Improvements in Japan are leading broad developed int'l indexes higher. Last week we highlighted bu...

1 director sold

A director at Sparebanken 1 Nord-Norge sold 45,000 shares at 67.568NOK and the significance rating of the trade was 62/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The name...

Håkon Astrup

Near-term NII headwinds

The Norwegian macroeconomic outlook is gradually improving on a wide range of fiscal measures, seemingly protecting asset values and overall credit quality. Lower interest rates nonetheless put pressure on the sector’s NII, particularly near-term. We expect an improvement in the sector’s capital generation in Q2 2020 QOQ, and continue to consider Norwegian banks well-equipped to endure the ongoing economic slowdown. We reiterate our positive sector view, but now take a more nuanced stance – highlighting MING and SRBANK as our top picks.

Jan Erik Gjerland ...
  • Jonas Bru Lien

SpareBank 1 Nord-Norge - Q1 beat on LLPs, but margin pressure ahead

Q1’20: PTP NOK 448m, +15% vs. ABGSC, -16% vs. cons Adj. EPS chg.: +5% for ’20e, -4% for ’21e and -2% for ’21e TP down to NOK 64 (65) on EPS chg., reiterate HOLD

Håkon Astrup

Sparebank1 Nord-Norge (Buy, TP: NOK67.00) - Helping hand from lower NIBOR

Adjusted for a soft trading line, Q1 pre-tax profit was ~3% above our forecast, although NII fell short of our estimate. Despite this and a lowered growth outlook, we have raised our estimates given the positive outlook for funding costs in 2020e – leaving our 2021–2022e EPS up ~2%. We reiterate our BUY, and have raised our target price to NOK67 (65), considering the risk/reward attractive at a 2021e P/E of 8.3x.

Jan Erik Gjerland ...
  • Jonas Bru Lien

SpareBank 1 Nord-Norge - Beat on lower LLPs and better commission income

Q1’20: PTP NOK 448m, +15% vs. ABG, -16% vs. cons NII in-line, LLPs 32bp vs. ABG at 40bp, NCI better Cons. likely down 3-5% on LLPs, costs and other income

Anders Idborg ...
  • André Thormann
  • Derek Laliberté
  • Jan Erik Gjerland
  • Jannick Lindegaard Denholt
  • Jesper Birch-Jensen
  • Martin Kaland
  • Petter Nystrøm
  • Stefan Knutsson

Talking Points - Bang & Olufsen (Sell): Only when the tide goes out…

Atlas Copco (Hold) Company event: China close to normalised DKK 400m rights issue secured We still see major risk - SELL

SpareBank 1 Nord-Norge: Regular update

FINANCIAL INSTITUTIONS CREDIT OPINION 15 December 2017 Update RATINGS SpareBank 1 Nord-Norge Domicile Norway Long Term Debt A1 Type Senior Unsecured - Fgn Curr Outlook Negative Long Term Deposit A1 Type LT Bank Deposits - Fgn Curr Outlook Negative Please see the 

SpareBank 1 Nord-Norge: Key Facts and Statistics - H1 June 2017

FINANCIAL INSTITUTIONS ISSUER PROFILE 23 October 2017 TABLE OF CONTENTS Company overview 1 Financial highlights 2 Business description 3 Distribution channels 5 Ownership structure 5 Company management 7 Company history 8 Peer group 10 Related websites and information

SpareBank 1 Nord-Norge: Update following ratings affirmations

FINANCIAL INSTITUTIONS CREDIT OPINION 28 September 2017 Update RATINGS SpareBank 1 Nord-Norge Domicile Norway Long Term Debt A1 Type Senior Unsecured - Fgn Curr Outlook Negative Long Term Deposit A1 Type LT Bank Deposits - Fgn Curr Outlook Negative Please see the 

SpareBank 1 Nord-Norge: Update Following Outlook Change to Negative

FINANCIAL INSTITUTIONS CREDIT OPINION 12 July 2017 Update RATINGS SpareBank 1 Nord-Norge Domicile Norway Long Term Debt A1 Type Senior Unsecured - Fgn Curr Outlook Negative Long Term Deposit A1 Type LT Bank Deposits - Fgn Curr Outlook Negative Please see the 

SpareBank 1 Nord-Norge: Semi - Annual Update

FINANCIAL INSTITUTIONS CREDIT OPINION 12 June 2017 Update RATINGS SpareBank 1 Nord-Norge Domicile Norway Long Term Debt A1 Type Senior Unsecured - Fgn Curr Outlook Stable Long Term Deposit A1 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the 

Alexander Aukner ...
  • Håkon Astrup
  • Helene Kvilhaug Brøndbo
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Christer Magnergård ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Martin Huseby Karlsen
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

SPB.1 NORD-NORGE ASA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SPB.1 NORD-NORGE ASA (NO), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 12, 2020, the closing price was NOK 62.80 and its potential was estimated at NOK 70.72.

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Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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