SpareBank 1 BV (SBVG) published its Q4 numbers this morning and the result was just on the strong side with an ROE of 9.2% in the quarter, despite XO costs relating to ID documentation of customers ahead of the FSA’s deadline of 17 January. The proposed DPS of NOK 2.95 represents an attractive 7.1% dividend yield. We have increased ‘20e/’21e EPS 2%/2% and increase our target price to NOK 43 (42), but reiterate our Hold recommendation for now.
07 Feb 2020
Hefty NII growth, we increase TP to NOK 43
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Hefty NII growth, we increase TP to NOK 43
SpareBank 1 Sorost-Norge (0NY7:LON) | 0 0 0.0%
- Published:
07 Feb 2020 -
Author:
Joakim Svingen -
Pages:
14
SpareBank 1 BV (SBVG) published its Q4 numbers this morning and the result was just on the strong side with an ROE of 9.2% in the quarter, despite XO costs relating to ID documentation of customers ahead of the FSA’s deadline of 17 January. The proposed DPS of NOK 2.95 represents an attractive 7.1% dividend yield. We have increased ‘20e/’21e EPS 2%/2% and increase our target price to NOK 43 (42), but reiterate our Hold recommendation for now.