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

Kepler Capital analyst Christoffer Adams maintained a Hold rating on SpareBank 1 SMN (SRMGFResearch Report) on September 25 and set a price target of NOK91.00. The company’s shares closed last Wednesday at $5.39, close to its 52-week low of $5.39.

According to TipRanks.com, Adams has 0 stars on 0-5 stars ranking scale with an average return of -5.8% and a 41.3% success rate. Adams covers the Financial sector, focusing on stocks such as SpareBank 1 Nord-Norge, Banca Mediolanum SpA, and Erste Group Bank AG.

Currently, the analyst consensus on SpareBank 1 SMN is a Hold with an average price target of $9.51.

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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.