Added to YB: 2025-06-24
Pitch date: 2025-06-21
NRDF.CO [bullish]
Nordfyns Bank A/S
+31.91%
current return
Author Info
Sung Capital is an alternative asset management firm run by Oliver Sung. We invest capital for families, registered investment advisors, and accredited investors through a private investment fund. We pick underpriced stocks, usually in pockets of the market where large pools of capital (funds and institutions) can’t or won’t invest, but we flip every stone. We pick stocks only, use no leverage, and require a significant margin of safety in every investment. Sign up for the newsletter.
Company Info
Nordfyns Bank A/S provides banking products and services businesses in Denmark. The company offers savings and currency accounts; home, car, mortgage, energy, currency, and investment loans; construction credit; loans and credit; and operating credit.
Market Cap
DKK 775.4M
Pitch Price
DKK 470.00
Price Target
575.00 (-7%)
Dividend
2.75%
EV/EBITDA
N/A
P/E
10.49
EV/Sales
N/A
Sector
Banks
Category
special_situation
Nordfyns Bank: merger deal’s off, setup isn’t
NRDF.CO: Danish bank at 9% ROE in 2025, 12.3x P/E, 1x book. Blocked merger w/ Fynske Bank recently as shareholders rejected below-book offer despite 15% premium. 25% held by SJF Bank. Over-capitalized (7.5x A/E, 532% LCR) with merger synergies ~DKK500M. Fair value ~DKK575 (23% upside).
Read full article (9 min)