SpareBank 1 Ringerike Hadeland (RING) published its Q2 numbers today and NII fell more than we anticipated, but was more than compensated by a solid contribution from SB1 (incl Fremtind), higher MtM gains and low impairments. We have increased our 2020e/2021e EPS 11%/12%. Following positive estimate revisions and reduced uncertainty following prudent provisioning we increase our TP to NOK 215 (190) and upgrade to a Hold (Sell) recommendation.
13 Aug 2020
Prudence all the way
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Prudence all the way
SpareBank 1 Ringerike Hadeland (0N01:LON) | 0 0 0.0%
- Published:
13 Aug 2020 -
Author:
Joakim Svingen -
Pages:
14
SpareBank 1 Ringerike Hadeland (RING) published its Q2 numbers today and NII fell more than we anticipated, but was more than compensated by a solid contribution from SB1 (incl Fremtind), higher MtM gains and low impairments. We have increased our 2020e/2021e EPS 11%/12%. Following positive estimate revisions and reduced uncertainty following prudent provisioning we increase our TP to NOK 215 (190) and upgrade to a Hold (Sell) recommendation.