Landmark Bancorp (LARK) AI Stock Analysis

• Market Cap: $166.43M
• Dividend Yield: 3.01%
• Average Volume (3M): 8.14K
• Price to Earnings (P/E): 8.9
• Beta (1Y): 0.22
• Revenue Growth: 12.31%
• EPS Growth: 39.46%
• Country: US
• Employees: 283
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.77
• Shares Outstanding: 6,074,231
• 10 Day Avg. Volume: 8,849
• 30 Day Avg. Volume: 8,137
• PEG Ratio: 1.61
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 1.56
• P/FCF Ratio: 11.60
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 1.99
• Enterprise Value/Gross Profit: 2.89
• Enterprise Value/Ebitda: 8.53
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: $32.00 ▲(20.85% Upside)
• Action: Reiterated Date: 01/31/26
• Date: Action: Reiterated 01/31/26

The score is driven primarily by improved recent fundamentals (higher earnings and strong cash conversion) despite rising leverage and historical volatility. Technicals are supportive with price above key moving averages and positive momentum indicators. Valuation adds a boost due to the low P/E and ~3% dividend yield, while the latest earnings call was broadly positive but included cost pressures and investment-portfolio unrealized losses.

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 Business Overview & Revenue Model

Company Description

Landmark 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 Money

Landmark 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 Financial Statement Overview

Summary

TTM results show improved profitability and solid cash generation: revenue $93.6M with ~18% net margin, net income up to $17.3M, and free cash flow of $17.6M (~99% of net income). Offsetting strengths are a historically volatile revenue/cash-flow pattern and rising leverage (debt-to-equity ~0.73), which reduces balance-sheet flexibility.

Income Statement

Performance has improved meaningfully into 2025-09-30 TTM (Trailing-Twelve-Months): revenue rose to $93.6M with strong profitability (net margin ~18.0%, EBIT margin ~19.6%). Net income increased to $17.3M vs $13.0M in 2024, showing good operating leverage. Offsetting this, the revenue growth path is volatile across years (declines in 2021–2022 followed by a sharp rebound), and margins are lower than the unusually high 2020–2021 period, suggesting profitability has normalized.

Balance Sheet

Capital position looks adequate with equity up to $155.7M in 2025-09-30 TTM (Trailing-Twelve-Months) and returns on equity improving to ~12.4% from ~9.5% in 2024. Leverage, however, has been drifting higher: debt increased to $113.6M and debt-to-equity rose to ~0.73 (from ~0.65 in 2024), which reduces flexibility versus the much lower leverage profile seen in 2020–2021.

Cash Flow

Cash generation is solid in 2025-09-30 TTM (Trailing-Twelve-Months): operating cash flow of $17.7M and free cash flow of $17.6M, with free cash flow nearly matching net income (~99%), indicating good earnings quality. Free cash flow growth is strong in the latest period, but cash flow has been choppy historically (including a sharp free-cash-flow decline in 2023 and weaker conversion in 2024), which tempers confidence in consistency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	93.55M	88.64M	77.91M	56.93M	62.09M	66.61M
Gross Profit	64.37M	58.17M	56.17M	52.58M	60.08M	60.54M
EBITDA	21.79M	16.59M	17.30M	13.89M	25.42M	26.87M
Net Income	17.32M	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	59.74M	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

• Technical Analysis Sentiment: Positive
• Last Price: 26.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LARK, the sentiment is Positive. The current price of 26.48 is below the 20-day moving average (MA) of 27.63, below the 50-day MA of 27.08, and above the 200-day MA of 25.67, indicating a bullish trend. The MACD of 0.28 indicates Positive momentum. The RSI at 59.02 is Neutral, neither overbought nor oversold. The STOCH value of 44.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LARK.

Landmark Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LARK	75 Outperform	$166.43M	8.93	11.72%	3.01%	12.31%	39.46%
BVFL	72 Outperform	$171.76M	13.28	5.32%	―	4.86%	-8.20%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CFBK	67 Neutral	$195.44M	11.30	9.18%	1.16%	2.33%	22.43%
MNSB	60 Neutral	$171.06M	12.62	-2.07%	1.90%	1.92%	-174.59%
PNBK	55 Neutral	$150.64M	-0.50	-35.87%	―	-11.99%	63.64%

Landmark Bancorp Corporate Events

Landmark Bancorp Posts Strong 2025 Results, Raises Dividend

On January 28, 2026, Landmark Bancorp reported that for the fourth quarter of 2025 it earned $4.7 million in net income, or $0.77 per diluted share, down slightly from the prior quarter but up from $0.54 a year earlier, with a 1.17% return on average assets, 11.88% return on average equity, and a net interest margin of 4.03%. For the full year 2025, the bank posted a 44.4% increase in net earnings to $18.8 million and diluted EPS of $3.07, driven by a $10 million rise in net interest income, an expanded net interest margin of 3.86%, improved efficiency ratio, 11.5% average loan growth primarily in commercial real estate and residential mortgages, and 4.5% deposit growth, while maintaining strong credit quality. The board also declared a quarterly cash dividend of $0.21 per share, payable on February 26, 2026 to shareholders of record on February 12, 2026, underscoring management’s confidence in the company’s improved profitability, balance-sheet strength, and continued focus on disciplined expenses and community banking growth.

The most recent analyst rating on (LARK) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Landmark Bancorp stock, see the LARK Stock Forecast page.

Landmark Bancorp Sets Date for Q4 2025 Earnings Release

On January 15, 2026, Landmark Bancorp, Inc. announced plans to release its fourth-quarter 2025 earnings after the market closes on January 28, 2026, and to host a conference call on January 29, 2026, at 10:00 a.m. Central Time to discuss the results. The scheduled disclosure and investor call underscore the company’s ongoing engagement with shareholders and analysts, providing a formal forum for management to review year-end performance and offer insight into the bank’s recent operating trends and financial condition.

The most recent analyst rating on (LARK) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Landmark Bancorp stock, see the LARK Stock Forecast page.