Landmark Bancorp Q2 revenue hits record level on higher net interest income, loan sales

Overview

• U.S. community bank's Q2 EPS rose 6.1% yr/yr to $0.88, net income up to $5.4 mln

• Company posted record revenue above $19 mln, driven by higher net interest income and loan sales

• Board declared quarterly cash dividend of $0.21 per share

Outlook

• Landmark Bancorp did not provide specific guidance for the current or upcoming quarters in the press release

Result Drivers

• NET INTEREST INCOME - Higher rates on investments and lower deposit and borrowing costs drove net interest income growth despite lower loan yields

• LOAN SALES - Increased gains on sale of loans boosted non-interest income as volume of loans sold in the secondary market rose

• LOAN MIX SHIFT - Growth in commercial, construction, and agricultural loans offset by decline in residential mortgage loans

Company press release: ID:nGNXc8n66C

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "hold"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Landmark Bancorp Inc is $33.50, about 4.6% above its July 28 closing price of $32.02

Reuters Recommended Reads

• July 29 - Potomac Bancshares Q2 net income rises on loan growth; lifts dividend

• July 29 - Stock Yards Bancorp Q2 net income rises on loan, margin growth

• July 29 - First National Q2 EPS rises, net interest margin improves

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)