Hanover Bancorp, Inc. (HNVR) vs Landmark Bancorp Inc. (LARK)

Hanover Bancorp, Inc. and Landmark Bancorp Inc. are both Banks Regional companies. Hanover Bancorp, Inc. and Landmark Bancorp Inc. are of similar size ($191.1M and $183.9M). Landmark Bancorp Inc. trades at the lower P/E: 9.7× against 20.9×. Landmark Bancorp Inc. grew revenue faster over the last twelve months: 6.39% against −4.37%. Landmark Bancorp Inc. has the higher net margin (20.6% vs 6.55%) and the lower return on invested capital (6.52% vs 8.61%). Both pay a dividend; Landmark Bancorp Inc. yields more (4.23% vs 2.27%). Across the 20 metrics below, Landmark Bancorp Inc. leads on 11 and Hanover Bancorp, Inc. on 9.

Valuation

Metric HNVR LARK Banks Regional median
P/E 20.87 9.69 12.15
P/S 1.36 1.99 2.37
P/B 0.97 1.17 1.21
Price to free cash flow 7.35 8.32 10.80
EV/EBITDA n/m n/m —
EV/Sales 0.60 2.74 2.27
Earnings yield 4.79% 10.32% 8.11%
Free cash flow yield 13.61% 12.02% 8.98%

Profitability

Metric HNVR LARK Banks Regional median
Gross margin 53.37% 76.42% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 6.55% 20.56% 18.66%
Free cash flow margin 18.47% 23.94% 21.18%
Return on equity 4.72% 12.77% 10.64%
Return on assets 0.40% 1.25% 1.13%
Return on invested capital 8.61% 6.52% 8.33%

Growth

Metric HNVR LARK Banks Regional median
Revenue growth (TTM) (4.37%) 6.39% 6.61%
EPS growth (last fiscal year) (39.76%) 42.63% —
Revenue growth, 5-year CAGR 28.13% 7.58% 12.30%
Net income growth, 5-year CAGR (7.64%) (0.75%) 9.71%

Health

Metric HNVR LARK Banks Regional median
Debt to equity 0.17 0.63 0.22
Current ratio 1.03 0.87 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric HNVR LARK Banks Regional median
Dividend yield 2.27% 4.23% 3.75%
Payout ratio — 0.41 0.27

Size

Metric HNVR LARK Banks Regional median
Market cap 183.86m 191.07m 921.07m

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