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

Analysts

Håkon Astrup

Good value despite headwinds

With valuations approaching previous troughs, we see meaningful valuation support as the sector is now trading at a 2020e P/B of ~0.7x. We have cut our earnings estimates for the Norwegian banks we cover to reflect higher loan losses given the rising macro uncertainty and downward pressure on margins. However, we believe extended fiscal easing should limit the Norwegian economic downturn. We reiterate our positive sector view, highlighting Sbanken as our top pick on robust asset quality and attractive valuation.

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Norway: MoF expects institution to delay DPS

N-MoF expects institutions to delay to keep solidity intact DNB, STB, SR-Bank delayed. NOFI scrap. GJF to pay? A prohibition could come if they do not follow the intention

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Norway: FSA suggest to postpone all DPS’19

N-FSA propose for the N-MoF to postpone DPS for 2019 May be distributed later. DPS agreed at AGMs will be paid Negative for all financials that still haven’t had its AGM

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Norway: GJF cut DPS, we expect DNB to do so

GJF cut its EO DPS, keep ordinary NOK 7.25 (55%-ratio) We forecast DNB to cut its DPS to NOK 4 (~25% ratio) DNB cut mortgage rate by ~50bp, EPS down 7-8%

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Magnus Andersson

Sector Fast Comment - Norway: First bank cuts 2019 DPS to ~40%

Both DNB’ DPS as well as cancellation of shares… …could be at risk. SPOL cut its despite strong capitalised Not to print new shares, is now the optimal capitalisation

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

Good value despite headwinds

With valuations approaching previous troughs, we see meaningful valuation support as the sector is now trading at a 2020e P/B of ~0.7x. We have cut our earnings estimates for the Norwegian banks we cover to reflect higher loan losses given the rising macro uncertainty and downward pressure on margins. However, we believe extended fiscal easing should limit the Norwegian economic downturn. We reiterate our positive sector view, highlighting Sbanken as our top pick on robust asset quality and attractive valuation.

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Norway: MoF expects institution to delay DPS

N-MoF expects institutions to delay to keep solidity intact DNB, STB, SR-Bank delayed. NOFI scrap. GJF to pay? A prohibition could come if they do not follow the intention

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Norway: FSA suggest to postpone all DPS’19

N-FSA propose for the N-MoF to postpone DPS for 2019 May be distributed later. DPS agreed at AGMs will be paid Negative for all financials that still haven’t had its AGM

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Mads Thinggaard
  • Magnus Andersson

Sector Fast Comment - Norway: GJF cut DPS, we expect DNB to do so

GJF cut its EO DPS, keep ordinary NOK 7.25 (55%-ratio) We forecast DNB to cut its DPS to NOK 4 (~25% ratio) DNB cut mortgage rate by ~50bp, EPS down 7-8%

Jan Erik Gjerland ...
  • Jonas Bru Lien
  • Magnus Andersson

Sector Fast Comment - Norway: First bank cuts 2019 DPS to ~40%

Both DNB’ DPS as well as cancellation of shares… …could be at risk. SPOL cut its despite strong capitalised Not to print new shares, is now the optimal capitalisation

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 ...
  • 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

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

With a more favourable environment, SPB.1 NORD-NORGE ASA improves to Slightly Positive

SPB.1 NORD-NORGE ASA (NO), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 28, 2020, the closing price was NOK 78.40 and its potential was estimated at NOK 82.93.

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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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