Landmark Bancorp Inc. (LARK)
NASDAQ:LARK
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Landmark Bancorp
(NASDAQ:LARK)
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Rating:80Outperform
Price Target:
$32.00
▲(20.85% Upside)
Action:ReiteratedDate:04/30/26
The score is driven primarily by solid financial performance (improving profitability, deleveraging, and strong free cash flow conversion), supported by attractive valuation (low P/E with a meaningful dividend). Technicals are constructive with price above key moving averages, while the latest earnings discussion adds a positive tilt but highlights funding (deposit decline/borrowings), credit, and fraud-related expense risks.
Positive Factors
Profitability
Sustained TTM margins near 19.6% and high operating margins indicate the franchise generates healthy core profits from lending and fee activities. Durable profitability supports internal capital formation, funds reinvestment and dividends, and provides a buffer versus cyclical loan losses over the next several quarters.
Negative Factors
Funding Mix Shift
A meaningful quarter-to-quarter deposit reduction and increased borrowings shifted funding toward wholesale/FHLB sources. That change raises structural funding cost and liquidity sensitivity if deposits remain soft, increasing vulnerability to rate moves and requiring active balance-sheet management over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability
Sustained TTM margins near 19.6% and high operating margins indicate the franchise generates healthy core profits from lending and fee activities. Durable profitability supports internal capital formation, funds reinvestment and dividends, and provides a buffer versus cyclical loan losses over the next several quarters.
Read all positive factors
Landmark Bancorp (LARK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$162.15M
Dividend Yield3.01%
Average Volume (3M)8.14K
Price to Earnings (P/E)7.4
Beta (1Y)0.36
Revenue Growth4.80%
EPS Growth27.81%
CountryUS
Employees283
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.83
Shares Outstanding6,098,324
10 Day Avg. Volume8,849
30 Day Avg. Volume8,137
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)0.99
Price to Sales (P/S)1.66
P/FCF Ratio7.56
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue1.41
Enterprise Value/Gross Profit1.98
Enterprise Value/Ebitda5.47
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 a...
How the Company Makes Money
Landmark Bancorp primarily makes money through traditional banking activities conducted by its bank subsidiary. The largest driver is usually net interest income: the bank earns interest and fees on loans and other interest-earning assets (such as...
Landmark Bancorp Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call presented broadly positive operating and profitability momentum—record revenue, EPS growth, improved net interest margin, higher net interest income, mortgage originations growth, core deposit expansion and stronger investment yields—while noting manageable but meaningful headwinds including a $66.2 million deposit decline, modest loan balance declines, a small uptick in nonperforming and past-due loans, increased unrealized investment losses from rising rates, and a quarter impact from fraud-related expense. Capital levels remain strong and the dividend was maintained, and management emphasized disciplined underwriting and active balance sheet management.Positive Updates
Record Revenue and EPS Growth
Total revenue reached a record $18.8 million for Q1 2026. Earnings per share were $0.83, up 6.7% versus Q4 2025 and up 7.2% versus Q1 2025. Net income totaled $5.1 million compared to $4.7 million in Q1 2025.
Negative Updates
Quarterly Deposit Decline and Funding Mix Shift
Total deposits decreased $66.2 million during the quarter to roughly $1.3 billion. Interest checking and money market balances declined $61.6 million and certificates of deposit declined $10.8 million. Management noted strategic replacement of some brokered funding with FHLB borrowings and total borrowings rose $57.3 million during the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Revenue and EPS Growth
Total revenue reached a record $18.8 million for Q1 2026. Earnings per share were $0.83, up 6.7% versus Q4 2025 and up 7.2% versus Q1 2025. Net income totaled $5.1 million compared to $4.7 million in Q1 2025.
Read all positive updates
Company Guidance
Management did not provide formal numeric forward guidance but reiterated qualitative guidance to continue targeted investments in revenue-generating activities, pursue efficiency and modernization, grow core customer deposits with disciplined pricing, and strengthen credit oversight and capital to remain resilient across environments; they pointed to Q1 results as support: total revenue $18.8M, net income $5.1M, EPS $0.83 (+6.7% q/q, +7.2% y/y), ROA 1.29% (+12 bps q/q), net interest income $15.0M (+1.6% q/q) and NIM 4.24% (+21 bps q/q; +48 bps y/y). Balance sheet metrics cited included loans $1.1B (‑$13.5M q/q, +$23.3M y/y; CRE +$13.6M, agriculture ‑$16.2M), mortgage originations +9% y/y, deposits $1.3B (‑$66.2M q/q) with core customer deposits +1.6% q/q, borrowings +$57.3M and a loan‑to‑deposit ratio around 82.1%. Credit and liquidity metrics referenced were nonperforming loans $10.4M (0.94%), 30–89 day delinquencies $7.4M (0.68%), net charge‑offs $349k (≈0.13% annualized), allowance for credit losses $12.6M (1.15% of loans) with a $500k provision; investment portfolio duration 4.3 years, 12‑month cash flow $68.7M and unrealized losses $11.3M; capital remained strong (book value $26.50, tangible book $20.89, stockholders’ equity $161.6M) and the Board declared a $0.21 per share cash dividend.Landmark Bancorp Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
73
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 95.97M | 88.64M | 77.91M | 56.93M | 62.09M |
| Gross Profit | 68.29M | 58.17M | 56.17M | 52.58M | 60.08M |
| EBITDA | 23.05M | 16.59M | 17.30M | 13.89M | 25.42M |
| Net Income | 18.77M | 13.00M | 12.24M | 9.88M | 18.01M |
Balance Sheet | |||||
| Total Assets | 1.61B | 1.57B | 1.56B | 1.50B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 369.14M | 59.65M | 484.79M | 521.55M | 577.31M |
| Total Debt | 33.72M | 88.50M | 99.03M | 68.25M | 36.46M |
| Total Liabilities | 1.45B | 1.44B | 1.43B | 1.39B | 1.19B |
| Stockholders Equity | 160.63M | 136.22M | 126.91M | 111.43M | 135.64M |
Cash Flow | |||||
| Free Cash Flow | 21.03M | 11.92M | 11.61M | 23.90M | 29.84M |
| Operating Cash Flow | 21.63M | 14.24M | 12.60M | 24.78M | 31.16M |
| Investing Cash Flow | -21.37M | -18.11M | -50.61M | -197.16M | -56.45M |
| Financing Cash Flow | 441.00K | -2.96M | 41.95M | 6.32M | 129.69M |
Landmark Bancorp Technical Analysis
Positive
26.48
Price Trends
26.42
Positive
26.73
Positive
25.67
Positive
Market Momentum
0.35
Negative
65.02
Neutral
96.27
Negative
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 above the 20-day moving average (MA) of 25.65, above the 50-day MA of 26.42, and above the 200-day MA of 25.67, indicating a bullish trend. The MACD of 0.35 indicates Negative momentum. The RSI at 65.02 is Neutral, neither overbought nor oversold. The STOCH value of 96.27 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
80 Outperform | $162.15M | 7.44 | 12.22% | 3.01% | 4.80% | 27.81% | |
71 Outperform | $171.16M | 36.81 | 6.61% | ― | 5.29% | 31.40% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $175.83M | 10.13 | 7.98% | 1.90% | -4.00% | ― | |
58 Neutral | $189.85M | 9.23 | 9.65% | 1.16% | 1.80% | 30.22% | |
52 Neutral | $138.16M | -15.62 | -16.24% | ― | -3.90% | 96.81% |
* Financial Sector Average
LARK
Landmark Bancorp
26.59
-1.07
-3.88%
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PNBK
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MNSB
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23.87
5.21
27.94%
BVFL
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Landmark Bancorp Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Landmark Bancorp Reports Strong Q1 Earnings and Dividend
Positive
Apr 29, 2026
On April 29, 2026, Landmark Bancorp reported first-quarter 2026 diluted earnings per share of $0.83, up 6.7% from $0.77 a year earlier, with net earnings rising to $5.1 million and returns on average assets and equity improving to 1.29% and 12.65%...
Business Operations and Strategy
Landmark Bancorp Highlights CEO Forum Investor Outreach
Neutral
Feb 4, 2026
On February 4, 2026, Landmark Bancorp participated in the Brean Capital CEO Forum in Phoenix, using reference slides with select quarterly and year-end financial data to engage investors, lacking a webcast but signaling transparent outreach to sta...
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.