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Landmark Bancorp Inc. (LARK)
NASDAQ:LARK
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Landmark Bancorp
(NASDAQ:LARK)
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Rating:75Outperform
Price Target:
$31.00
▲(10.60% Upside)
Landmark Bancorp's overall stock score is driven by strong earnings performance and attractive valuation. The company's financial stability and positive technical indicators further support the score, despite some concerns about cash flow generation and flat loan growth.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.
Credit Quality Improvement
Improved credit quality reduces risk and enhances financial health, contributing to sustainable profitability and investor confidence.
Efficiency Ratio Improvement
Improved efficiency ratio reflects better cost management, enhancing operational performance and supporting long-term profitability.
Negative Factors
Flat Total Loans
Flat total loan growth may indicate challenges in expanding lending activities, potentially limiting future revenue opportunities.
Net Loan Charge-offs
Increased loan charge-offs can strain financial resources and highlight potential weaknesses in credit risk management.
Increase in Noninterest Expense
Rising noninterest expenses can pressure profit margins, affecting the company's ability to maintain cost efficiency over time.
Landmark Bancorp (LARK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$170.26M
Dividend Yield3.01%
Average Volume (3M)8.14K
Price to Earnings (P/E)9.9
Beta (1Y)0.20
Revenue Growth12.31%
EPS Growth39.46%
CountryUS
Employees283
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.81
Shares Outstanding6,074,231
10 Day Avg. Volume8,849
30 Day Avg. Volume8,137
Financial Highlights & Ratios
PEG Ratio1.61
Price to Book (P/B)1.01
Price to Sales (P/S)1.56
P/FCF Ratio11.60
Enterprise Value/Market Cap1.83
Enterprise Value/Revenue4.54
Enterprise Value/Gross Profit6.63
Enterprise Value/Ebitda20.58
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Landmark Bancorp Business Overview & Revenue Model
Company DescriptionLandmark Bancorp, Inc. operates as the financial holding company for Landmark National Bank that provides various financial and banking services to its local communities. It offers non-interest bearing demand, money market, checking, and savings accounts, as well as certificates of deposit. The company also one-to-four family residential real estate, construction and land, commercial real estate, commercial, paycheck protection program, municipal, and agriculture loans; and consumer and other loans, including automobile, boat, and home improvement and home equity loans, as well as insurance, and mobile and online banking services. In addition, the company invests in certain investment and mortgage-related securities. It has 30 branch offices in 24 communities across the state of Kansas. The company was founded in 1885 and is headquartered in Manhattan, Kansas.
How the Company Makes MoneyLandmark Bancorp generates revenue primarily through interest income from loans and mortgages, which constitutes a significant portion of its earnings. The company issues various types of loans, including commercial real estate loans, consumer loans, and personal loans, and earns interest on these products. Additionally, Landmark Bancorp generates non-interest income through fees associated with banking services, such as account maintenance fees, transaction fees, and service charges. The company may also earn revenue through investment activities, including interest from securities and other financial instruments. Strategic partnerships with local businesses and community organizations may further enhance its customer base and revenue streams, contributing to its overall profitability.
Landmark Bancorp Earnings Call Summary
Earnings Call Date:Oct 29, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 03, 2026
Earnings Call Sentiment Positive
The earnings call for Landmark Bancorp indicated strong financial performance with significant increases in net income, improvements in return metrics, and credit quality. Despite these positives, there were some concerns with flat total loan growth, increased charge-offs, and rising noninterest expenses.Q3-2025 Updates
Positive Updates
Increase in Net Income
Net income for the third quarter totaled $4.9 million or $0.85 per diluted share, reflecting a 24.1% increase in diluted earnings per share compared to the same period last year.
Improved Return Metrics
Return on average assets improved to 1.21% and return on average equity improved to 13.0%.
Credit Quality Improvement
Nonperforming loans declined by almost $7 million, mostly due to resolution of a large commercial loan on nonaccrual status.
Increase in Tangible Book Value
Tangible book value per share increased to $20.96, up 6.6% on a linked-quarter basis and 15.7% from the end of the third quarter of 2024.
Consistent Dividend Payout
Declared a cash dividend of $0.21 per share and a 5% stock dividend, marking the 97th consecutive quarterly cash dividend.
Net Interest Margin Stability
Net interest margin on a tax equivalent basis held steady at 3.83%, improving by 53 basis points compared to the third quarter of 2024.
Efficiency Ratio Improvement
Efficiency ratio improved to 60.7% in the third quarter compared to 66.5% in the third quarter of 2024.
Negative Updates
Flat Total Loans
Total loans were flat this quarter based on period-end balances, though average loans grew nearly 10% on an annualized basis.
Net Loan Charge-offs
Net loan charge-offs totaled $2.3 million in the third quarter, compared to just $40,000 in the prior quarter.
Increase in Noninterest Expense
Noninterest expense for the third quarter of 2025 totaled $11.3 million, an increase of $290,000 compared to the prior quarter.
Company Guidance
During the third quarter of 2025, Landmark Bancorp, Inc. reported strong financial performance, highlighted by a net income of $4.9 million, or $0.85 per diluted share, marking a 24.1% increase from $0.68 per diluted share in the same period last year. The company saw improvements in key metrics, including a return on average assets of 1.21% and a return on average equity of 13.0%. Their net interest margin remained steady at 3.83%, while the efficiency ratio improved to 60.7%. Average loans grew by nearly 10% on an annualized basis, driven by increases in commercial real estate and residential mortgage portfolios, although total loans remained flat at period-end. Deposits increased by $51.6 million to $1.3 billion, supported by growth in both brokered and noninterest-bearing demand deposits. A notable improvement in credit quality was achieved with nonperforming loans decreasing by $7 million. The company's tangible book value per share rose to $20.96, up 6.6% from the previous quarter, supported by growth in retained earnings and a reduction in accumulated other comprehensive loss. Additionally, the Board declared a cash dividend of $0.21 per share and a 5% stock dividend, marking the 97th consecutive quarterly cash dividend and the 25th year of the stock dividend, reinforcing their long-term commitment to shareholder value.Landmark Bancorp Financial Statement Overview
Summary
Landmark Bancorp demonstrates solid financial performance with consistent revenue growth and profitability. The income statement is strong, but the balance sheet indicates higher leverage typical for the banking industry. Cash flow generation poses some concerns with declining growth, but the company maintains a strong cash flow relative to net income.Income Statement
Landmark Bancorp shows a solid income statement with consistent revenue growth, evidenced by a 2.12% increase in TTM. The gross profit margin remains strong at 67.82%, and the net profit margin has improved to 17.73%. However, the EBIT and EBITDA margins have slightly decreased compared to previous years, indicating some pressure on operational efficiency.75
Positive
Balance Sheet
The balance sheet reflects a stable financial position with a debt-to-equity ratio of 1.23, which is relatively high but manageable for the banking sector. Return on equity is healthy at 11.51%, showing effective use of equity to generate profits. The equity ratio stands at 9.13%, suggesting a moderate level of leverage.68
Positive
Cash Flow
Cash flow analysis reveals a decline in free cash flow growth by 18.56% in TTM, indicating potential challenges in cash generation. The operating cash flow to net income ratio is low at 1.21%, suggesting limited cash conversion efficiency. However, the free cash flow to net income ratio is robust at 96.57%, indicating strong cash flow relative to net income.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 68.75M | 88.64M | 77.91M | 56.93M | 62.09M | 66.61M |
| Gross Profit | 47.06M | 58.17M | 56.17M | 52.58M | 60.08M | 60.54M |
| EBITDA | 15.16M | 16.59M | 17.30M | 13.89M | 25.42M | 26.87M |
| Net Income | 12.39M | 13.00M | 12.24M | 9.88M | 18.01M | 19.49M |
Balance Sheet | ||||||
| Total Assets | 1.62B | 1.57B | 1.56B | 1.50B | 1.33B | 1.19B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 59.65M | 484.79M | 521.55M | 577.31M | 382.09M |
| Total Debt | 113.55M | 88.50M | 99.03M | 68.25M | 36.46M | 28.02M |
| Total Liabilities | 1.46B | 1.44B | 1.43B | 1.39B | 1.19B | 1.06B |
| Stockholders Equity | 155.73M | 136.22M | 126.91M | 111.43M | 135.64M | 126.67M |
Cash Flow | ||||||
| Free Cash Flow | 17.57M | 11.92M | 11.61M | 23.90M | 29.84M | 14.45M |
| Operating Cash Flow | 17.68M | 14.24M | 12.60M | 24.78M | 31.16M | 14.81M |
| Investing Cash Flow | -50.45M | -18.11M | -50.61M | -197.16M | -56.45M | -104.55M |
| Financing Cash Flow | 35.51M | -2.96M | 41.95M | 6.32M | 129.69M | 160.86M |
Landmark Bancorp Technical Analysis
Neutral
28.03
Price Trends
26.21
Positive
25.54
Positive
25.57
Positive
Market Momentum
0.62
Positive
55.06
Neutral
42.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LARK, the sentiment is Neutral. The current price of 28.03 is below the 20-day moving average (MA) of 28.14, above the 50-day MA of 26.21, and above the 200-day MA of 25.57, indicating a neutral trend. The MACD of 0.62 indicates Positive momentum. The RSI at 55.06 is Neutral, neither overbought nor oversold. The STOCH value of 42.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for LARK.
Landmark Bancorp Risk Analysis
Landmark Bancorp disclosed 38 risk factors in its most recent earnings report. Landmark Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Landmark Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $170.26M | 9.89 | 11.72% | 3.01% | 12.31% | 39.46% | |
72 Outperform | $161.43M | 16.67 | 5.32% | ― | 4.86% | -8.20% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $167.86M | 10.46 | 9.18% | 1.16% | 2.33% | 22.43% | |
64 Neutral | $153.89M | 66.43 | 1.46% | 3.23% | -2.62% | -70.70% | |
59 Neutral | $162.66M | -23.34 | -2.07% | 1.90% | 1.92% | -174.59% | |
55 Neutral | $192.03M | -0.62 | -35.87% | ― | -11.99% | 63.64% |
* Financial Sector Average
LARK
Landmark Bancorp
28.03
5.82
26.20%
BFIN
Bankfinancial
12.35
0.18
1.48%
CFBK
CF Bankshares
26.05
2.28
9.59%
PNBK
Patriot National Bancorp
1.67
-0.33
-16.50%
MNSB
MainStreet Bancshares
21.11
3.09
17.15%
BVFL
BV Financial, Inc.
18.13
0.74
4.26%
Landmark Bancorp Corporate Events
DividendsBusiness Operations and StrategyFinancial Disclosures
Landmark Bancorp Announces Strong Q3 Earnings Growth
Positive
Oct 29, 2025
On October 29, 2025, Landmark Bancorp announced its third quarter earnings, reporting a diluted earnings per share of $0.85, an increase from previous quarters. The company declared a cash dividend of $0.21 per share and a 5% stock dividend, reflecting its strong financial performance. Landmark’s net earnings for the quarter were $4.9 million, driven by growth in net interest income and non-interest income, alongside improved credit quality and efficiency. The company’s strategic focus on loan growth and deposit expansion has strengthened its market position, benefiting stakeholders with increased profitability and shareholder returns.
Financial Disclosures
Landmark Bancorp to Announce Q3 Earnings Soon
Neutral
Oct 17, 2025
On October 17, 2025, Landmark Bancorp, Inc. announced it will release its third-quarter earnings for 2025 after the market closes on October 29, 2025. A conference call to discuss these results is scheduled for October 30, 2025, at 10:00 a.m. (CT), providing stakeholders an opportunity to gain insights into the company’s financial performance.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.