SWX:LLBN

Stock Analysis Report

Liechtensteinische Landesbank

Executive Summary

Liechtensteinische Landesbank Aktiengesellschaft provides banking products and services in Liechtenstein, Switzerland, Austria, Germany, Central and Eastern Europe, the Middle East, and internationally.

Snowflake

Fundamentals

Excellent balance sheet with moderate growth potential.

Risks

  • Liechtensteinische Landesbank is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has Liechtensteinische Landesbank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.3%

LLBN

0.3%

CH Banks

0.3%

CH Market


1 Year Return

-3.6%

LLBN

-2.7%

CH Banks

6.4%

CH Market

LLBN underperformed the Banks industry which returned -1.9% over the past year.

LLBN underperformed the Market in Switzerland which returned 6.4% over the past year.


Share holder returns

LLBNIndustryMarket
7 Day-0.3%0.3%0.3%
30 Day2.3%0.4%2.4%
90 Day1.6%-0.9%1.2%
1 Year-0.6%-3.6%0.6%-2.7%11.9%6.4%
3 Yearn/a22.5%10.5%32.7%15.6%
5 Yearn/a46.3%22.4%34.5%13.3%

Price Volatility Vs. Market

How volatile is Liechtensteinische Landesbank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

1 month ago | Simply Wall St

Liechtensteinische Landesbank Aktiengesellschaft (VTX:LLBN): Immense Growth Potential?

Valuation

Is Liechtensteinische Landesbank undervalued based on future cash flows and its price relative to the stock market?

20.46x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Liechtensteinische Landesbank's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Liechtensteinische Landesbank's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Liechtensteinische Landesbank is overvalued based on earnings compared to the CH Banks industry average.

Liechtensteinische Landesbank is overvalued based on earnings compared to the Switzerland market.


Price Based on Expected Growth

Liechtensteinische Landesbank is poor value based on expected growth next year.


Price Based on Value of Assets

Liechtensteinische Landesbank is overvalued based on assets compared to the CH Banks industry average.


Next Steps

Future Growth

How is Liechtensteinische Landesbank expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

13.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Liechtensteinische Landesbank's revenue is expected to grow by 3.6% yearly, however this is not considered high growth (20% yearly).

Liechtensteinische Landesbank's earnings are expected to grow by 13.1% yearly, however this is not considered high growth (20% yearly).

Liechtensteinische Landesbank's revenue growth is expected to exceed the Switzerland market average.

Liechtensteinische Landesbank's earnings growth is expected to exceed the Switzerland market average.

Liechtensteinische Landesbank's earnings growth is expected to exceed the low risk savings rate of 3.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Liechtensteinische Landesbank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Liechtensteinische Landesbank performed over the past 5 years?

5.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Liechtensteinische Landesbank's year on year earnings growth rate has been positive over the past 5 years.

Liechtensteinische Landesbank's 1-year earnings growth is less than its 5-year average (3.1% vs 5.4%)

Liechtensteinische Landesbank's earnings growth has exceeded the CH Banks industry average in the past year (3.1% vs 2.4%).


Return on Equity

Liechtensteinische Landesbank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Liechtensteinische Landesbank used its assets less efficiently than the CH Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Liechtensteinische Landesbank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Liechtensteinische Landesbank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

Liechtensteinische Landesbank has an acceptable proportion of non-loan assets held.

Liechtensteinische Landesbank has a low allowance for bad loans.

Liechtensteinische Landesbank's liabilities are made up of primarily low risk sources of funding.

Liechtensteinische Landesbank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at Liechtensteinische Landesbank are broadly funded by customer deposits.

Liechtensteinische Landesbank has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is Liechtensteinische Landesbank's current dividend yield, its reliability and sustainability?

3.91%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Liechtensteinische Landesbank's pays a higher dividend yield than the bottom 25% of dividend payers in Switzerland (1.93%).

Liechtensteinische Landesbank's dividend is below the markets top 25% of dividend payers in Switzerland (3.65%).

Liechtensteinische Landesbank has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but Liechtensteinische Landesbank only paid a dividend in the past 2 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.9x coverage).


Next Steps

Management

What is the CEO of Liechtensteinische Landesbank's salary, the management and board of directors tenure and is there insider trading?

6.9yrs

Average management tenure


CEO

Roland Matt (49yo)

7.7yrs

Tenure

CHF1,379,000

Compensation

Liechtensteinische Landesbank (Österreich) AG - Education: • Business economist FH, 1995. • Federally qualified financial analyst and asset manager, 1999. • Federally qualified finance and investme ...


CEO Compensation Analysis

Roland's remuneration is about average for companies of similar size in Switzerland.

Roland's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

6.9yrs

Average Tenure

47.5yo

Average Age

The average tenure for the Liechtensteinische Landesbank management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

1.3yrs

Average Tenure

56yo

Average Age

The average tenure for the Liechtensteinische Landesbank board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Urs Müller (57yo)

    Head of Retail & Corporate Banking Division

    • Tenure: 8.4yrs
  • Roland Matt (49yo)

    Group CEO & Group Chairman of Executive Board

    • Tenure: 7.7yrs
    • Compensation: CHF1.38m
  • Cyrill Sele

    Head of Group Corporate Communications & General Secretary

    • Tenure: 0yrs
  • Christoph Reich (45yo)

    Group CFO & Member of Executive Board

    • Tenure: 7.2yrs
  • Gabriel Brenna (46yo)

    Division Head of Private Banking & Member of Management Board

    • Tenure: 6.9yrs
  • Patrick Fürer (54yo)

    Group COO & Member of Executive Board

    • Tenure: 0.7yrs
  • Natalie Epp (42yo)

    Head of Institutional Clients Division & Member of Executive Board

    • Tenure: 3.2yrs
  • Michaela Alt

    Head of Group Marketing

    • Tenure: 0yrs
  • Roger Dornier

    Head of Group Legal & Compliance

    • Tenure: 2.5yrs
  • Jan-Friedrich Brünings

    Group Corporate Development

    • Tenure: 0yrs

Board Members

  • Karl Sevelda (69yo)

    Director

    • Tenure: 0.3yrs
  • Urs Leinhäuser (60yo)

    Director

    • Tenure: 5.3yrs
    • Compensation: CHF99.00k
  • Georg Wohlwend (56yo)

    Chairman of the Board

    • Tenure: 2.3yrs
    • Compensation: CHF420.00k
  • Patrizia Holenstein (62yo)

    Director

    • Tenure: 6.3yrs
    • Compensation: CHF97.00k
  • Gabriela Nagel-Jungo (50yo)

    Vice-Chairwoman of the Board

    • Tenure: 1.3yrs
    • Compensation: CHF140.00k
  • Richard Senti (54yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: CHF66.00k
  • Thomas Russenberger (43yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: CHF57.00k

Company Information

Liechtensteinische Landesbank Aktiengesellschaft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Liechtensteinische Landesbank Aktiengesellschaft
  • Ticker: LLBN
  • Exchange: SWX
  • Founded: 1861
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: CHF1.905b
  • Shares outstanding: 30.58m
  • Website: https://www.llb.li

Number of Employees


Location

  • Liechtensteinische Landesbank Aktiengesellschaft
  • Städtle 44
  • PO Box 384
  • Vaduz
  • 9490
  • Liechtenstein

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0RP8LSE (London Stock Exchange)YesRegistered SharesGBCHFMay 2017
LLBNSWX (SIX Swiss Exchange)YesRegistered SharesCHCHFMay 2017
LLS1BST (Boerse-Stuttgart)YesRegistered SharesDEEURMay 2017
LLBNZBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBCHFMay 2017

Biography

Liechtensteinische Landesbank Aktiengesellschaft provides banking products and services in Liechtenstein, Switzerland, Austria, Germany, Central and Eastern Europe, the Middle East, and internationally. It ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/23 22:23
End of Day Share Price2019/09/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.