Last 214.00 NOK
Change Today +1.50 / 0.71%
Volume 124.0
MORG On Other Exchanges
Symbol
Exchange
As of 10:25 AM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

sparebanken more-cap cert (MORG) Snapshot

Open
212.50 NOK
Previous Close
212.50 NOK
Day High
214.00 NOK
Day Low
212.50 NOK
52 Week High
09/19/14 - 214.00 NOK
52 Week Low
09/23/13 - 185.00 NOK
Market Cap
2.1B
Average Volume 10 Days
2.8K
EPS TTM
33.11 NOK
Shares Outstanding
9.9M
EX-Date
03/27/14
P/E TM
6.5x
Dividend
8.00 NOK
Dividend Yield
3.74%
Current Stock Chart for SPAREBANKEN MORE-CAP CERT (MORG)

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sparebanken more-cap cert (MORG) Details

Sparebanken Møre, through its subsidiaries, provides banking services for retail and corporate customers primarily in Møre og Romsdal, Norway. The company offers services in the areas of deposits and other forms of investments, asset management, financing, financial advisory, payment transfers, insurance, real estate brokerage, leasing, and real estate management, as well as provides foreign exchange and interest rate hedging products. It operates through a network of 30 branches located in 16 municipalities of Sunnmøre, 6 municipalities of Romsdal, and 2 municipalities of Nordmøre. The company was founded in 1843 and is headquartered in Ålesund, Norway.

380 Employees
Last Reported Date: 08/7/14
Founded in 1843

sparebanken more-cap cert (MORG) Top Compensated Officers

Chief Executive Officer, President and Managi...
Total Annual Compensation: 2.0M NOK
Chief Financial Officer, Head of Treasury & M...
Total Annual Compensation: 1.2M NOK
Executive Vice President of Retail Banking Di...
Total Annual Compensation: 1.3M NOK
Executive Vice President of Sunnmore Corporat...
Total Annual Compensation: 1.2M NOK
Executive Vice President of Sunnmore Corporat...
Total Annual Compensation: 1.1M NOK
Compensation as of Fiscal Year 2013.

sparebanken more-cap cert (MORG) Key Developments

Sparebanken Møre Announces Group Earnings Results for Second Quarter and Six Months Ended June 30, 2014 ; Announces Impairment for the Second Quarter of 2014

Sparebanken Møre announced group earnings results for second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income of NOK 268 million, total income of NOK 330 million, pre-tax profit of NOK 178 million, profit after tax of NOK 131 million or NOK 6.6 per diluted share compared to the net interest income of NOK 258 million, total income of NOK 309 million, pre-tax profit of NOK 158 million, profit after tax of NOK 116 million or NOK 6.8 per diluted share for the same quarter a year ago. Return on equity was 12.1% compared to the 12.9% for the same quarter year ago. For the six months period, the company reported net interest income of NOK 537 million, total income of NOK 659 million, pre-tax profit of NOK 358 million, profit after tax of NOK 263 million or NOK 13.15 per diluted share, net cash flow from operating activities of NOK 2 million, purchase of fixed assets etc. of NOK 6 million compared to the net interest income of NOK 494 million, total income of NOK 588 million, pre-tax profit of NOK 275 million, profit after tax of NOK 201 million or NOK 11.8 per diluted share, net cash out flow from operating activities of NOK 1,601 million, purchase of fixed assets etc. of NOK 6 million for the same period a year ago. Return on equity was 12.1% compared to the 11.3% for the same period year ago. For the second quarter of 2014, the company reported impairment on loans and guarantees etc. of NOK 8 million compared to the NOK 6 million for the same quarter year ago.

Sparebanken Møre Announces Unaudited Group and Parent Earnings Results for the First Quarter Ended March 31, 2014

Sparebanken Møre announced unaudited group and parent earnings results for the first quarter ended March 31, 2014. For the quarter, the group reported net interest income was NOK 269 million against NOK 236 million a year ago. Profit before losses was NOK 186 million against NOK 124 million a year ago. Pre tax profit was NOK 180 million against NOK 117 million a year ago. Profit after tax was NOK 132 million against NOK 84 million a year ago. Diluted profit per EC was NOK 6.62 against NOK 4.95 a year ago. Return on equity (annualized) was 12.7% against 27.0% a year ago. The consolidated result represents an annualized return on equity of 12.1 %. This is an increase of 2.5% points in relation to the corresponding quarter in 2013. Net cash flow from operating activities was NOK 490 million against net cash flow used in operating activities of NOK 1,172 million a year ago. Purchase of fixed assets etc. was NOK 3 million against NOK 19 million a year ago. Net interest income as a percentage of total assets decreased by 0.12% points in relation to fourth quarter of 2013. One of the reasons for this was that there were fewer interest days in first quarter of 2014, however at the same time it underscores the fact that the markets for both loan and deposit customers are highly competitive. The interest contribution from equity remains low due to the generally low level of interest rates in the market. For the quarter, the parent company reported net interest income was NOK 194 million against NOK 191 million a year ago. Pre tax profit was NOK 265 million against NOK 163 million a year ago. Profit after tax was NOK 235 million against NOK 142 million a year ago. Diluted earnings per EC were NOK 11.77 against NOK 8.30 a year ago.

Sparebanken Møre Announces Unaudited Group and Parent Earnings Results for the Fourth Quarter and Full Year of 2013; Provides Earnings Guidance for the Fiscal 2014; Recommends Cash Dividend

Sparebanken Møre announced unaudited group and parent earnings results for the fourth quarter and full year of 2013. For the quarter, the group reported net interest income was NOK 281 million against NOK 238 million a year ago. Profit before losses was NOK 210 million against NOK 325 million a year ago. Profit before tax was NOK 184 million against NOK 314 million a year ago. Profit was NOK 131 million against NOK 222 million a year ago. The primary reason for the reduction was the recognition in 2012 of a result improving, non-recurring effect of NOK 166 million due to pension plan changes. Return on equity (annualised) was 12.7% against 27.0% a year ago. Return on equity (annualised) (adjusted for pension plan changes) was 12.7% against 12.5% a year ago. Diluted profit per EC was NOK 6.50 against NOK 12.97 a year ago. For the year, the group reported net interest income was NOK 1,042 million against NOK 936 million a year ago. Profit before losses was NOK 675 million against NOK 787 million a year ago. Profit before tax was NOK 621 million against NOK 740 million a year ago. Profit was NOK 450 million against NOK 530 million a year ago. Return on equity (annualised) was 11.6% against 16.3% a year ago. Return on equity (annualised) (adjusted for pension plan changes) was 11.6% against 12.6% a year ago. Diluted profit per EC was NOK 6.21.65 against NOK 31.05 a year ago. Net cash flow used in operating activities was NOK 2,661 million against NOK 2,265 million a year ago. Purchase of fixed assets etc. was NOK 13 million against NOK 57 million a year ago. For the quarter, the parent company reported net interest income was NOK 210 million against NOK 198 million a year ago. Net income was NOK 267 million against NOK 265 million a year ago. Profit before credit losses was NOK 144 million against NOK 286 million a year ago. Profit from ordinary operations before tax was NOK 118 million against NOK 275 million a year ago. Profit was NOK 82 million against NOK 194 million a year ago. Diluted earnings per EC were NOK 3.95 against NOK 11.45 a year ago. For the year, the parent company reported net interest income was NOK 807 million against NOK 800 million a year ago. Net income was NOK 1,094 million against NOK 1,087 million a year ago. Profit before credit losses was NOK 548 million against NOK 682 million a year ago. Profit from ordinary operations before tax was NOK 494 million against NOK 640 million a year ago. Profit was NOK 382 million against NOK 466 million a year ago. Diluted earnings per EC were NOK 18.45 against NOK 27.75 a year ago. The board of directors of the company recommends that a cash dividend of NOK 8.00 per equity certificate be paid for the year 2013. The company announced a slightly stronger growth is expected on a national basis in 2014 than in 2013.

 

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Valuation MORG Industry Range
Price/Earnings 7.6x
Price/Sales 3.3x
Price/Book 0.4x
Price/Cash Flow 4.0x
TEV/Sales NM Not Meaningful
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