Landmark Bancorp Inc LARK

FinancialsBanking ServicesUnited States of America

Last close 32.07 USD on Nov 1, 2026, +25.1% year to date

Quant rating

Quant rating C Rank 504 of 799 in Financials

Growth D 609 of 799
Valuation A 60 of 799
Quality D 612 of 799
Revisions D 586 of 799
Momentum B 135 of 799

Wall Street consensus Hold (3.00)Average target 34.50 USD +7.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 196M
Enterprise value: 193M
52-week range: 23.57 – 33.33
3-year range: 14.73 – 33.33
Dividend yield: 2.62%
Beta (5 years): 0.37
Shares outstanding: 6.1M
Next earnings: Jan 28, 2027

About the company

Landmark Bancorp, Inc. is the holding company for Landmark National Bank (the Bank). The Bank is a community banking organization engaged in providing financial and banking services. The Company’s business consists of the ownership of the Bank and Landmark Risk Management, Inc. The Bank’s primary deposit gathering and lending markets are geographically diversified throughout central, eastern, southeast, and southwest Kansas. The Bank is principally engaged in the business of attracting deposits from the general public and using such deposits, together with borrowings and other funds, to originate one-to-four family residential real estate, construction and land, commercial real estate (CRE), commercial, agriculture, municipal and consumer loans. The Bank also invests in certain investment and mortgage-related securities using deposits and other borrowings as funding sources. Landmark Risk Management, Inc. provides property and casualty insurance coverage to the Company and the Bank.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	81.0	73.9	64.7	43.2	39.8	–
Revenue growth	9.6%	14.2%	49.6%	8.5%	1.5%	15.6%
EPS (basic, normalized)	3.09	2.15	2.03	2.12	2.97	–
EPS growth	43.8%	6.1%	−4.5%	−28.5%	−7.7%	−0.8%
Gross margin	–	–	–	–	–	–
Net margin	23.2%	17.6%	18.9%	22.9%	45.2%	25.6%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	13.7%
Long-term debt (mil)	21.7
Net debt (mil)	–
Total equity (mil)	167
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	81.0	+9.6%	2.4x	–	–	–	–	–	–
2026	–	–	–	28.30	–	1.1x	3.46	–	9.3x
2027	–	–	–	31.06	+9.8%	1.0x	3.41	−1.4%	9.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	3.46	−0.3%	+1.5%	–
2027	–	–	–	–	3.41	−2.0%	−1.2%	–
2028	–	–	–	–	–	–	–	–

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	Jun 2026
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	0.88
EPS mean	–	–	–	–	–	–	–	–	–	0.83
Surprise	–	–	–	–	–	–	–	–	–	+6.0%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
LARK Landmark Bancorp Inc	196M	13.7%	23.2%	1.26x	9.3x	9.4x	1.1x	1.0x
8331 The Chiba Bank, Ltd.	12.3B	15.0%	30.8%	1.21x	14.4x	12.1x	1.3x	1.2x
FITB Fifth Third Bancorp	48.9B	10.8%	24.0%	1.43x	13.3x	10.8x	1.5x	1.4x
EWBC East West Bancorp, Inc.	17.9B	15.4%	30.9%	1.20x	12.1x	11.1x	1.9x	1.7x
BANC Banc of California, Inc.	2.9B	11.7%	11.3%	1.12x	17.9x	8.7x	1.0x	0.9x
FBNC First Bancorp (North Carolina)	2.6B	14.8%	19.8%	1.25x	13.3x	12.5x	1.5x	1.3x
Mean		13.6%	23.3%	1.25x	13.4x	10.8x	1.4x	1.3x
Median		14.2%	23.6%	1.23x	13.3x	11.0x	1.4x	1.3x

Technical analysis

1M+0.4%
3M+0.8%
1Y+34.9%
3Y+146.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Landmark Bancorp Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	81.0	73.9	64.7	43.2	39.8	39.3
Total interest expense	25.3	28.2	21.4	4.3	1.5	2.8
Net interest income	55.7	45.7	43.3	38.9	38.3	36.5
Loan loss provision	2.4	2.3	0.3	0	0.5	3.3
Net interest income after loan loss provision	53.3	43.4	42.9	38.9	37.8	33.2
Non-interest income	15.0	14.7	13.2	13.7	22.3	27.4
Non-interest expense	−45.2	−44.1	−42.0	−41.3	−37.3	−36.3
Net income before taxes	23.1	14.1	14.2	11.3	22.8	24.3
Provision for taxes	4.3	1.1	2.0	1.4	4.8	4.8
Minority interest & equity in affiliates	–	–	–	–	–	–
Other	0	0	0	0	0	0
Net income before extraordinary items	18.8	13.0	12.2	9.9	18.0	19.5
Extraordinary items	–	–	–	–	–	0
Net income	18.8	13.0	12.2	9.9	18.0	19.5
Basic weighted average shares (mil)	6.1	6.0	6.0	6.1	6.1	6.1
Diluted weighted average shares (mil)	6.1	6.1	6.0	6.1	6.1	6.1
Basic EPS excluding extraordinary items	3.09	2.15	2.03	1.63	2.97	3.22
Basic EPS, normalized	3.09	2.15	2.03	2.12	2.97	3.22

Balance sheet in millions of USD, fiscal years

Balance sheet, Landmark Bancorp Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	21.0	20.3	27.1	23.2	189	84.8
Other earning assets	366	390	470	510	396	317
Net loans	1,098	1,039	938	841	653	703
Property, plant & equipment	19.3	20.2	19.7	24.3	20.8	20.5
Goodwill	32.4	32.4	32.4	32.2	17.5	17.5
Intangibles	5.2	5.6	6.4	7.8	4.3	3.9
Long-term investments	–	–	–	–	–	–
Other long-term assets	–	–	–	–	–	–
Other assets	64.3	66.1	68.2	64.3	48.1	41.2
Total assets	1,607	1,574	1,562	1,503	1,329	1,188
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Total deposits	1,389	1,329	1,316	1,301	1,148	1,016
Other bearing liabilities	10.6	53.0	64.7	8.2	–	0
Short-term borrowings	1.5	13.8	12.7	–	–	–
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	21.7	21.7	21.7	60.1	29.1	28.0
Minority interest	–	–	–	–	–	–
Other liabilities	23.4	20.7	19.5	22.5	15.8	17.3
Total liabilities	1,446	1,438	1,435	1,391	1,193	1,061
Shareholders' equity
Preferred stock	–	–	–	–	0	–
Common stock	0.1	0.1	0.1	0.1	0.1	0
Additional paid-in capital	103	95.1	89.2	84.3	79.1	72.2
Retained earnings (accumulated deficit)	63.7	56.9	54.3	52.2	52.6	44.9
Treasury stock	0	0	−0.1	–	–	–
Other equity	−5.7	−15.8	−16.6	−25.1	3.9	9.4
Total equity	161	136	127	111	136	127
Total liabilities & shareholders' equity	1,607	1,574	1,562	1,503	1,329	1,188

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Landmark Bancorp Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	18.8	13.0	12.2	9.9	18.0	19.5
Depreciation, depletion & amortization	2.2	2.5	3.1	2.6	2.6	2.6
Deferred taxes	−0.1	−0.2	0.4	−1.2	0.8	−0.5
Non-cash items	−1.5	−1.6	−1.3	0.8	1.7	0.9
Changes in working capital	2.2	0.5	−1.8	12.7	8.0	−7.7
Cash from operations	21.6	14.2	12.6	24.8	31.2	14.8
Investing activities
Capital expenditures	−0.6	−2.3	−1.0	−0.9	−1.3	−0.4
Other investing cash flows	−20.8	−15.8	−49.6	−196	−55.1	−104
Cash from investing	−21.4	−18.1	−50.6	−197	−56.5	−105
Financing activities
Financing cash flow items	7.8	4.4	48.7	2.8	132	178
Cash dividends paid	−4.9	−4.6	−4.4	−4.2	−3.8	−3.6
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−2.5	−2.8	−2.4	7.8	1.1	−13.5
Cash from financing	0.4	−3.0	42.0	6.3	130	161
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	0.7	−6.8	3.9	−166	104	71.1
Free cash flow	21.0	11.9	11.6	23.9	29.8	14.5

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.