| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 33.06 | 22 |
| Intrinsic value (DCF) | 23.42 | -13 |
| Graham-Dodd Method | 17.31 | -36 |
| Graham Formula | 48.17 | 78 |
Landmark Bancorp, Inc. (NASDAQ: LARK) is a financial holding company for Landmark National Bank, serving local communities across Kansas with a comprehensive suite of banking and financial services. Founded in 1885 and headquartered in Manhattan, Kansas, the company operates 30 branch offices in 24 communities, emphasizing personalized banking solutions. Landmark Bancorp offers a range of deposit products, including non-interest-bearing demand accounts, money market accounts, checking and savings accounts, and certificates of deposit. Its lending portfolio spans residential and commercial real estate, agricultural loans, consumer loans, and municipal financing, alongside digital banking services. With a market capitalization of approximately $169 million, Landmark Bancorp maintains a stable presence in the regional banking sector, supported by a conservative risk profile (beta: 0.26) and consistent profitability. The company’s community-focused approach and diversified revenue streams position it as a resilient player in the Midwest financial services landscape.
Landmark Bancorp presents a conservative investment opportunity with steady performance metrics, including $58.2 million in revenue and $13.0 million net income for the latest fiscal year. Its low beta (0.26) suggests lower volatility compared to broader markets, appealing to risk-averse investors. The company’s diluted EPS of $2.26 and dividend yield (~3.7% based on a $0.84 annual dividend) underscore its income-generating potential. However, its regional concentration in Kansas limits geographic diversification, exposing it to localized economic risks. While its loan portfolio is diversified across real estate, agriculture, and consumer segments, rising interest rates could pressure net interest margins. The absence of capital expenditures indicates limited growth investments, potentially constraining long-term expansion. Investors should weigh its stable dividends and low-risk profile against modest growth prospects.
Landmark Bancorp’s competitive advantage lies in its deep community roots and localized service model, fostering customer loyalty in Kansas’s underserved markets. Its diversified loan portfolio mitigates sector-specific risks, while its conservative balance sheet (with $20.3 million in cash and $21.7 million in debt) ensures financial stability. However, the company faces intense competition from larger regional banks and credit unions with greater scale and digital capabilities. Its niche focus on rural and semi-urban Kansas markets differentiates it from urban-centric peers but also caps growth opportunities. Landmark’s net interest margin is susceptible to macroeconomic shifts, and its limited technological investments compared to national rivals could hinder customer acquisition among tech-savvy demographics. The bank’s strength in agricultural and small-business lending provides a defensible moat in its core markets, but scalability remains a challenge. Strategic partnerships or targeted digital upgrades could enhance its competitiveness against larger players.