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AKKUR
Estimates › ISB

This page is an investment recommendation. It shows AKKUR's target price for one or more securities together with the current market price and the resulting difference, and is subject to Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) 2016/958.

Target prices and ratings are fixed at the date of the valuation shown against each company and do not change between published valuations. Market prices update throughout the trading day. The difference between the two therefore moves continuously and is not itself a rating action. Full disclosures.

Published figures could not be loaded, so the target price, rating and estimates below may be out of date. This is usually temporary - reload the page.
ISBFinancials

Íslandsbanki hf.

Nasdaq Iceland · IS0000028538 · AKKUR coverage

AKKUR rates Íslandsbanki hf. (ISB) Buy with a fair value estimate of ISK 181,00 per share, issued 24/11/2025; estimates as of 20/07/2026. Figures as last baked 14/09/2026 at 13:48 GMT; the live figures on this page take over once loaded.

Last price
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PRICE UNAVAILABLE
Source: TradingView · OMXICE:ISB
AKKUR target price
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—indicative discount / premium of last price to target price
AKKUR rating
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Rating is based on AKKUR's target price relative to the market price at issuance and is not continuously updated. It changes only when AKKUR publishes a rating action.
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Latest valuation
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Price vs. target price — methodology bands (illustrative)
BUY band ≤ HOLD band SELL band ≥ what-if price
Valuation multiple
Current price
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Target price
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TARGET
What-if price
AKKUR estimates
ISB

Íslandsbanki hf.

Top 20 at 31/08/2026 · changes against 31/07/2026 and 31/12/2025 · 58,9% of 1.753.175.393 shares issued · 16 months on record
Pension funds41,6%Funds and asset managers7,9%Banks and nominee accounts7,3%Companies and other2,1%
#ShareholderSharesStakeChange, monthChange, year to date
1 LSR Pension FundPension funds 152.020.9158,67% -90.616-0,01 pp-6.659.510+0,23 pp
2 Live Pension FundPension funds 138.438.5717,90% 0+15.575.313+1,36 pp
3 Gildi Pension FundPension funds 123.812.3957,06% -2.112.849-0,12 pp-18.107.849-0,48 pp
4 Íslandsbanki hf.Banks and nominee accounts 98.616.2565,63% +2.321.269+0,13 pp-1.901.939+0,28 pp
5 Brú Pension FundPension funds 83.034.7464,74% 0+3.760.574+0,52 pp
6 VanguardFunds and asset managers 77.758.4134,44% +275.962+0,02 pp-1.643.739+0,21 pp
7 Frjálsi Pension FundPension funds 65.794.6033,75% +1.079.462+0,06 pp+16.345.921+1,12 pp
8 Almenni-Lífsverk Pension FundPension funds 48.621.8272,77% 0+750.000+0,23 pp
9 Stapi Pension FundPension funds 37.094.7312,12% -34.743-0,00 pp+3.983.980+0,36 pp
10 Birta Pension FundPension funds 30.650.6581,75% 0+737.687+0,16 pp
11 Kvika banki hf.Banks and nominee accounts 28.917.4951,65% +1.839.758+0,10 pp—
12 Festa Pension FundPension funds 20.357.9401,16% 0+40.000+0,08 pp
13 Kjölur fjárfestingarfélag ehf.Companies and other 19.410.6541,11% +1.409.709+0,08 pp—
14 Eaton VanceFunds and asset managers 17.829.9341,02% 0-1.030.601+0,01 pp
15 Landsbréf hf.Funds and asset managers 17.666.5781,01% -1.659.445-0,09 pp+2.488.326+0,20 pp
16 Ursus ehf.Companies and other 17.458.6791,00% 00
17 Söfnunarsjóður LífeyrisréttindaPension funds 14.830.2840,85% 0+30.450+0,06 pp
18 FolketrygdfondetPension funds 14.331.9280,82% 0+2.125.027+0,17 pp
19 Stefnir Asset Management Company hfFunds and asset managers 13.779.5430,79% +1.231.815+0,07 pp—
20 IS FundsFunds and asset managers 11.440.3210,65% -217.000-0,01 pp-4.010.794-0,17 pp
Equity funds

Held by 11 domestic equity funds

At least ISK 5.322 m at the end of August 2026, from the ten largest holdings each fund discloses; a position outside a fund's top ten is not visible here.
FundWeightChange, monthHeld, ISK m
Stefnir Innlend hlutabréf5,9%+0,7 pp1.145
ÍV Hlutabréf26,9%+7,7 pp816
Landsbréf Úrvalsbréf7,4%-0,8 pp803
Kvika Innlend hlutabréf7,2%0,0 pp591
IS Hlutabréfasjóðurinn9,7%-0,1 pp474
Landsbréf Öndvegisbréf6,9%-1,2 pp421
Landsbréf Hekla7,7%-1,7 pp383
IS Equus Hlutabréf7,5%-1,0 pp292
Stefnir Arðgreiðslusjóður10,7%-0,4 pp176
Stefnir Innlend hlutabréf Vogun6,9%+0,4 pp121
Akta Stokkur9,4%-10,0 pp99
Estimate accuracy

Actual above AKKUR's Core PBT estimate in 4 of 7 results

Core PBT: median signed error +4,2% over 7 results, FY2024 to Q2 2026; actual above the estimate in 4 of 7. Every line the result notes print beside an AKKUR estimate, FY2024 to Q2 2026; the error is (actual - estimate) / |estimate|, on absolute values for an expense line, so a positive figure is an actual above the estimate. The scorecard across coverage.
PeriodLineActual, ISKmAKKUR estimate, ISKmError
Q2 2026Net interest income15.28115.187+0,6%
Q2 2026Net fee and commission income3.2583.223+1,1%
Q2 2026Operating expenses-8.060-7.778+3,6%
Q2 2026Profit before tax9.6519.235+4,5%
Q2 2026Core PBT as printed in the note10.47910.632-1,4%
Q2 2026Core PBT primary10.47910.632-1,4%
Q2 2026Net profit7.0696.524+8,4%
Q1 2026Net interest income17.10014.943+14,4%
Q1 2026Net fee and commission income3.2683.194+2,3%
Q1 2026Operating expenses-7.830-7.643+2,4%
Q1 2026Profit before tax10.7318.697+23,4%
Q1 2026Core PBT as printed in the note12.53810.494+19,5%
Q1 2026Core PBT primary12.53810.494+19,5%
Q1 2026Net profit7.4566.235+19,6%
Q4 2025Net interest income12.39112.453-0,5%
Q4 2025Net fee and commission income4.1833.221+29,9%
Q4 2025Operating expenses-8.344-6.430+29,8%
Q4 2025Profit before tax7.6298.504-10,3%
Q4 2025Core PBT as printed in the note8.2309.244-11,0%
Q4 2025Core PBT primary8.2309.244-11,0%
Q4 2025Net profit5.9476.589-9,7%
Q3 2025Net interest income13.26012.919+2,6%
Q3 2025Net fee and commission income3.2293.474-7,1%
Q3 2025Operating expenses-6.479-6.783-4,5%
Q3 2025Profit before tax9.3828.641+8,6%
Q3 2025Core PBT as printed in the note10.0109.610+4,2%
Q3 2025Core PBT primary10.0109.610+4,2%
Q3 2025Net profit6.9016.454+6,9%
Q2 2025Net interest income13.88113.351+4,0%
Q2 2025Net fee and commission income3.6203.245+11,6%
Q2 2025Operating expenses-7.261-7.534-3,6%
Q2 2025Profit before tax10.3567.762+33,4%
Q2 2025Core PBT as printed in the note10.2409.062+13,0%
Q2 2025Core PBT primary10.2409.062+13,0%
Q2 2025Net profit7.1925.959+20,7%
Q1 2025Net interest income12.93911.775+9,9%
Q1 2025Net fee and commission income3.0673.342-8,2%
Q1 2025Operating expenses-7.396-7.3980,0%
Q1 2025Profit before tax7.6356.240+22,4%
Q1 2025Core PBT primary8.6107.719+11,5%
Q1 2025Net profit5.2094.365+19,3%
FY2024 full yearNet interest income47.26547.308-0,1%
FY2024 full yearNet fee and commission income13.12214.446-9,2%
FY2024 full yearOperating expenses-28.098-29.148-3,6%
FY2024 full yearProfit before tax33.58532.638+2,9%
FY2024 full yearCore PBT primary32.28932.606-1,0%
FY2024 full yearNet profit24.24623.813+1,8%