Landmark Bancorp Q2 revenue hits record level on higher net interest income, loan sales
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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.88 |
|
Q2 Net Income |
| $5.39 mln |
|
Q2 Net Interest Income |
| $15.08 mln |
|
Q2 Dividend |
| $0.21 |
|
Q2 Net Interest Margin |
| 4.22% |
|
Q2 Pretax Profit |
| $6.71 mln |
|
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
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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.)
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