Høland og Setskog Sparebank (HSPG) Fair Value & Analysis
Financial Services · NO · Market cap 103M NOK
Fair value as of: Jul 12, 2026
From 6 valuation models · updated 29 days ago
Fair value updated Jul 12, 2026, revised from kr 314.00 to kr 300.00 (−4.5%) since Jun 26, 2026. Share price +1.3% over the past month.
Below-average quality, screening 97% undervalued on our models.
What matters now
- The price is below even our cautious bear case (kr 225.00). The market is more pessimistic than our downside scenario.
- Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range kr 94.81 – kr 169.53 · fair‑value band kr 225.00 – kr 375.00 · the kr 152.00 price screens below the kr 300.00 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Høland og Setskog Sparebank (HSPG) currently trades at kr 152.00, while our model-based Fair Value estimate is kr 300.00, implying the stock looks roughly 97.4% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, Høland og Setskog Sparebank generated revenue of 162M NOK at a net margin of 25.8%. Revenue declined 2.3% year over year. It earns a return on equity of 3.9%. Net debt stands at 2.4B NOK. Fundamentals as of Jul 12, 2026
Our scenario range runs from kr 225.00 (bear case) to kr 375.00 (bull case); at kr 152.00, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 97%, HSPG screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Asset-Based (kr 1,122) versus Dividend Discount (kr 99.59). Highest evidence: Residual Income (76).
Notify me when HSPG reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 48
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Høland og Setskog Sparebank provides banking services for the retail and corporate markets in Norway. The company offers current, deposit, and savings accounts; business, investment, agricultural, and client accounts; bank and credit cards; eInvoice; mobile payments; and mobile and online banking.
Full company description
Høland og Setskog Sparebank provides banking services for the retail and corporate markets in Norway. The company offers current, deposit, and savings accounts; business, investment, agricultural, and client accounts; bank and credit cards; eInvoice; mobile payments; and mobile and online banking. It also provides insurance products for cars, electric scooters, boats, motorcycles, mopeds, jet skis, caravans, motorhomes, ATVs, tractors, snowmobiles, trailers, and veteran cars; houses, household items, travel, cottages, valuable items, and drones; health, child, disability, critical illness, life, and accident; dogs, cats, and horses; and company, employees, and agriculture applications. In addition, the company offers bank, BSU, mutual fund, micro, and retirement savings; pension products; car loans, mortgages, senior loans for apartments, green mortgages, energy-saving loans, framework loans, consumer loans, cottage loans, fixed-rate loans, and refinancing of mortgages, as well as loans for boats, motorcycles, caravans, motorhomes, ATVs, and snowmobiles; refinancing of consumer debt; bank guarantees, business and construction loans, factoring and invoice management, overdraft, and leasing; and consulting and accounting services. The company was formerly known as Holand Sparebank and changed its name to Høland og Setskog Sparebank in July 2010. Høland og Setskog Sparebank was incorporated in 1849 and is headquartered in Bjørkelangen, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Høland og Setskog Sparebank reported revenue of kr 196M in FY2025 versus kr 170M in FY2021, a compound +3.6%/yr. Reported net income was kr 47.4M in FY2025, compounding −2.7%/yr from FY2021.
of which total revenue +11.8 pp · buybacks/dilution −6.6 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch HSPG: get an alert when its fair value changes →
Peer Group
Banks - Regional · 1083 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,175 IDR | 6,087 IDR | -1% |
| KB Financial Group 105560 | 184,400 KRW | 213,797 KRW | +16% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 2,970 IDR | 4,891 IDR | +65% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,310 IDR | 7,841 IDR | +82% |
| Banco Bradesco S.A BBD | 5,120 ARS | 10,240 ARS | +100% |
| Shinhan Financial Group 055550 | 107,900 KRW | 137,259 KRW | +27% |
| Hana Financial Group 086790 | 136,800 KRW | 193,969 KRW | +42% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Banco de Chile, CHILE | 193.10 CLP | 152.55 CLP | -21% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,400 VND | 84,201 VND | +42% |
Compare Høland og Setskog Sparebank with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Financial Services stocks →
Frequently asked questions
Is Høland og Setskog Sparebank (HSPG) overvalued or undervalued?
What is the fair value of HSPG?
What is the quality score of HSPG?
What is the revenue of Høland og Setskog Sparebank (HSPG)?
What is the net profit margin of HSPG?
Does Høland og Setskog Sparebank pay a dividend?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Høland og Setskog Sparebank and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.