Sparebanken Møre stock closed at NOK106.94 after the Q3 2026 earnings release, with recent 30 day and 90 day returns slightly in decline. On the surface, a quarterly earnings per share of 2.44 NOK and total revenue of 593 million NOK look solid for a regional lender.
The real story sits in the longer run. Trailing twelve month earnings per share of 9.55 NOK and a P/E of 6.3x pull attention away from today’s modest price moves and toward what the next few years of profitability and risk could mean for this valuation.
Love Sparebanken Møre’s low P/E and steady earnings but uneasy about the recent soft share price trend? You can compare it with a curated group of resilient regional lenders in our list of solid balance sheet and fundamentals stocks (202 results).
Q3 2026 Earnings Summary
- Total Revenue (Q3 2026 vs Q3 2025): 593 million NOK vs 589 million NOK (slight increase)
- Net Income, Excl. Extra Items (Q3 2026 vs Q3 2025): 247 million NOK vs 119 million NOK (up 107.6%)
- Basic EPS (Q3 2026 vs Q3 2025): 2.44 NOK vs 2.40 NOK (up 1.7%)
- Net Interest Margin (Q3 2026 Trailing 12 Months vs Q3 2025 Trailing 12 Months): 35.8% trailing net profit margin vs 19.3% a year earlier (margin level higher year over year)
Big earnings jump but a flagged dividend and low loan reserves. Ask Charlie which risk matters more for Sparebanken Møre.
Sparebanken Møre: Earnings Power Underpins The Optimists
For a bank often framed as a steady regional lender, Sparebanken Møre just put up numbers that back that view. Revenue in Q3 2026 was NOK593 million, close to the prior year, while net income excluding extra items more than doubled to NOK247 million. Basic EPS edged up to NOK2.44. The real kicker is profitability over the last twelve months, with a 35.8% net profit margin compared with 19.3% a year earlier. That kind of margin progression supports the argument that the franchise is running more efficiently.
Sparebanken Møre: Where The Cautious View Still Fits
Even with stronger earnings, the cautious story is not completely dismissed. The share price has fallen about 3.2% over 30 days and roughly 4.1% over 90 days, which indicates that investors are not rushing to re-rate the stock. Revenue is roughly flat year on year at NOK593 million against NOK589 million. Profitability looks healthier, yet the softer recent share performance leaves room for concerns about how sustainable these margins are in a regional, mortgage heavy banking model.
After a 6.55% dividend yield flagged as thinly covered and loan loss reserves sitting at a low 23%, it is fair to ask whether Sparebanken Møre’s recent margin strength is masking deeper fragility. Scan our independent risk analysis for Sparebanken Møre which shows 2 important warning signsHunt For Mispriced Earnings Power
Sparebanken Møre just showed how stronger earnings can coincide with a hesitant share price. The real opportunity is identifying stocks that could be undervalued before the market reassesses them.
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