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SpareBank 1 SMN (SRMGF) Receives a Buy from Kepler Capital

In a report released on August 8, Christoffer Adams from Kepler Capital maintained a Buy rating on SpareBank 1 SMN (SRMGFResearch Report), with a price target of NOK144.00. The company’s shares closed last Wednesday at $16.50.

Adams covers the Financial sector, focusing on stocks such as SpareBank 1 Helgeland, SpareBank 1 Nord-Norge, and Sparebanken Vest. According to TipRanks, Adams has an average return of 18.2% and a 67.87% success rate on recommended stocks.

SpareBank 1 SMN has an analyst consensus of Moderate Buy, with a price target consensus of $14.77.

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SRMGF market cap is currently $1.66B and has a P/E ratio of 8.54.

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SpareBank 1 SMN is a regional bank offering retail and corporate banking services and principally operating in Norway. The bank is among the owners of the SpareBank 1 Alliance. A key element of the bank’s is to maintain a variety of office solutions in municipal and administrative centers where the bank’s customers are drawn. The bank is also making a push into digital banking channels via the Internet and mobile banking. The bank’s credit is heavily exposed to the real estate, construction, sea farming, agriculture, fisheries, shipbuilding, offshore, and retail industries, as well as the public and energy sectors. The bank’s income is split nearly evenly between net interest income and net fees and commission income.

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