Landmark Bancorp Inc. (LARK)
NASDAQ:LARK
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Landmark Bancorp
(NASDAQ:LARK)
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Rating:77Outperform
Price Target:
$32.00
▲(20.85% Upside)
Action:Reiterated
Date:05/22/26
Overall score reflects steady fundamentals with strong cash generation and profitability, supported by constructive technical momentum and an attractive low P/E with a moderate dividend yield. Offsetting factors include rising leverage versus the latest annual period and, from the latest call, funding/credit headwinds (deposit decline, higher borrowings, and modest credit metric deterioration) plus fraud-related expense.
Positive Factors
Strong cash generation
Consistent operating and free cash flow near net income demonstrates high earnings quality and internal funding capacity. Durable cash conversion supports the dividend, funds targeted investments and reduces short-term reliance on external borrowings, improving financial resilience.
Negative Factors
Deposit outflows & funding shift
Meaningful deposit declines and higher reliance on borrowings represent a structural funding risk: sustained outflows force more wholesale or FHLB funding, tightening liquidity buffers and raising sensitivity of margins and earnings to funding cost volatility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent operating and free cash flow near net income demonstrates high earnings quality and internal funding capacity. Durable cash conversion supports the dividend, funds targeted investments and reduces short-term reliance on external borrowings, improving financial resilience.
Read all positive factors
Landmark Bancorp (LARK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$170.37M
Dividend Yield3.01%
Average Volume (3M)8.14K
Price to Earnings (P/E)7.4
Beta (1Y)0.37
Revenue Growth4.70%
EPS Growth27.81%
CountryUS
Employees283
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.22
Shares Outstanding6,097,552
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 Cap1.32
Enterprise Value/Revenue2.30
Enterprise Value/Gross Profit3.20
Enterprise Value/Ebitda9.05
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
70
Positive
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.28M | 95.97M | 88.64M | 77.91M | 56.93M | 62.09M |
| Gross Profit | 70.03M | 68.29M | 58.17M | 56.17M | 52.58M | 60.08M |
| EBITDA | 24.77M | 23.05M | 16.59M | 17.30M | 13.89M | 25.42M |
| Net Income | 19.14M | 18.77M | 13.00M | 12.24M | 9.88M | 18.01M |
Balance Sheet | ||||||
| Total Assets | 1.61B | 1.61B | 1.57B | 1.56B | 1.50B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 373.93M | 369.14M | 59.65M | 484.79M | 521.55M | 577.31M |
| Total Debt | 90.98M | 33.72M | 88.50M | 99.03M | 68.25M | 36.46M |
| Total Liabilities | 1.44B | 1.45B | 1.44B | 1.43B | 1.39B | 1.19B |
| Stockholders Equity | 161.61M | 160.63M | 136.22M | 126.91M | 111.43M | 135.64M |
Cash Flow | ||||||
| Free Cash Flow | 20.15M | 21.03M | 11.92M | 11.61M | 23.90M | 29.84M |
| Operating Cash Flow | 20.44M | 21.63M | 14.24M | 12.60M | 24.78M | 31.16M |
| Investing Cash Flow | -6.70M | -21.37M | -18.11M | -50.61M | -197.16M | -56.45M |
| Financing Cash Flow | -3.76M | 441.00K | -2.96M | 41.95M | 6.32M | 129.69M |
Landmark Bancorp Technical Analysis
Positive
26.48
Price Trends
26.20
Positive
26.44
Positive
25.85
Positive
Market Momentum
0.39
Negative
57.53
Neutral
77.32
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 27.33, above the 50-day MA of 26.20, and above the 200-day MA of 25.85, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 57.53 is Neutral, neither overbought nor oversold. The STOCH value of 77.32 is Neutral, 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 39 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $170.37M | 7.44 | 12.22% | 3.01% | 4.70% | 27.81% | |
68 Neutral | $164.91M | 10.13 | 7.98% | 1.90% | -4.00% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $181.06M | 8.73 | 9.76% | 1.16% | 0.91% | 22.40% | |
60 Neutral | $170.50M | 36.81 | 6.61% | ― | 5.29% | 31.40% | |
52 Neutral | $128.26M | -14.36 | -16.24% | ― | 2.17% | 98.76% |
* Financial Sector Average
LARK
Landmark Bancorp
27.07
0.09
0.33%
CFBK
CF Bankshares
27.91
4.25
17.95%
PNBK
Patriot National Bancorp
1.07
-4.33
-80.19%
MNSB
MainStreet Bancshares
23.04
4.01
21.07%
BVFL
BV Financial, Inc.
19.79
4.14
26.45%
Landmark Bancorp Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Landmark Bancorp Shareholders Approve Stock Increase and Directors
Positive
May 21, 2026
Landmark Bancorp, Inc. held its Annual Meeting of Stockholders on May 20, 2026, in Manhattan, Kansas, with approximately 85.2% of its 6,098,324 eligible shares represented in person or by proxy. Stockholders elected Angela S. Hurt and David H. Sna...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Landmark Bancorp Releases Updated Investor Presentation Materials
Neutral
May 14, 2026
Landmark Bancorp, Inc. has furnished an updated investor presentation in connection with periodic meetings with investors, supplying select quarterly and year-end financial data. The materials are being provided under disclosure rules that classif...
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%...
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.