30 Jan 2020

Attractive yield and flexibility on capital

- Joakim Svingen

Sparebanken Møre (MORG) presented a solid Q4 report today despite a soft NII characterised by NOK 15m in higher crisis resolution/deposit guarantee fund fees. The DPS of NOK 17.5 was above our expectations and is currently yielding an attractive 5.2%. The opex trend is a bit worrying and something we will focus on going forward, but we continue to find the investment case attractive and reiterate Buy and target price of NOK 350.

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Attractive yield and flexibility on capital

Sparebanken More (0G40:LON) | 0 0 0.0%

Published: 30 Jan 2020
Author: Joakim Svingen
Pages:

Sparebanken Møre (MORG) presented a solid Q4 report today despite a soft NII characterised by NOK 15m in higher crisis resolution/deposit guarantee fund fees. The DPS of NOK 17.5 was above our expectations and is currently yielding an attractive 5.2%. The opex trend is a bit worrying and something we will focus on going forward, but we continue to find the investment case attractive and reiterate Buy and target price of NOK 350.