Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 4 highly experienced directors. Director Bernadette Koch was the last director to join the board, commencing their role in 2026. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 12
First quarter 2026 earnings released First quarter 2026 results: Revenue: CHF174.5m (up 4.9% from 1Q 2025). Net income: CHF80.1m (up 4.5% from 1Q 2025). Profit margin: 46% (in line with 1Q 2025). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Switzerland. Upcoming Dividend • Apr 09
Upcoming dividend of CHF2.70 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 20 April 2026. Trailing yield: 2.5%. Lower than top quartile of Swiss dividend payers (3.5%). Lower than average of industry peers (2.8%). Announcement • Mar 23
Luzerner Kantonalbank AG, Annual General Meeting, Apr 13, 2026 Luzerner Kantonalbank AG, Annual General Meeting, Apr 13, 2026, at 18:00 W. Europe Standard Time. Reported Earnings • Feb 11
Full year 2025 earnings released: EPS: CHF5.97 (vs CHF5.81 in FY 2024) Full year 2025 results: EPS: CHF5.97 (up from CHF5.81 in FY 2024). Revenue: CHF660.6m (up 1.6% from FY 2024). Net income: CHF295.5m (up 3.1% from FY 2024). Profit margin: 45% (in line with FY 2024). Cost-to-income ratio: 46.1% (down from 50.4% in FY 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Banks industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Declared Dividend • Feb 07
Dividend increased to CHF2.70 Dividend of CHF2.70 is 3.8% higher than last year. Ex-date: 16th April 2026 Payment date: 20th April 2026 Dividend yield will be 2.7%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by earnings (45% payout ratio) and is expected to be well covered in 3 years' time (45% forecast payout ratio). The dividend has increased by an average of 1.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Feb 06
Luzerner Kantonalbank AG announces Annual dividend, payable on April 20, 2026 Luzerner Kantonalbank AG announced Annual dividend of CHF 1.3500 per share payable on April 20, 2026, ex-date on April 16, 2026 and record date on April 17, 2026. Buy Or Sell Opportunity • Jan 07
Now 20% undervalued Over the last 90 days, the stock has risen 16% to CHF93.50. The fair value is estimated to be CHF117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Oct 26
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: CHF161.3m (up 3.0% from 3Q 2024). Net income: CHF72.6m (up 1.9% from 3Q 2024). Profit margin: 45% (in line with 3Q 2024). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Banks industry in Switzerland. Reported Earnings • Aug 25
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CHF166.1m (up 6.8% from 2Q 2024). Net income: CHF74.1m (up 6.0% from 2Q 2024). Profit margin: 45% (in line with 2Q 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Banks industry in Switzerland. Reported Earnings • Apr 14
First quarter 2025 earnings released First quarter 2025 results: EPS: CHF1.55. Revenue: CHF166.4m (up 11% from 1Q 2024). Net income: CHF76.6m (up 2.4% from 1Q 2024). Profit margin: 46% (down from 50% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Banks industry in Switzerland. Upcoming Dividend • Apr 10
Upcoming dividend of CHF2.60 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 23 April 2025. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Swiss dividend payers (4.3%). In line with average of industry peers (3.8%). Declared Dividend • Mar 17
Dividend of CHF2.60 announced Shareholders will receive a dividend of CHF2.60. Ex-date: 17th April 2025 Payment date: 23rd April 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.4%. Sustainability & Growth Dividend is well covered by earnings (45% payout ratio) and is expected to be well covered in 3 years' time (44% forecast payout ratio). The dividend has increased by an average of 1.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 17
Luzerner Kantonalbank AG, Annual General Meeting, Apr 14, 2025 Luzerner Kantonalbank AG, Annual General Meeting, Apr 14, 2025, at 18:00 W. Europe Standard Time. Announcement • Mar 16
Luzerner Kantonalbank AG announces Annual dividend, payable on April 23, 2025 Luzerner Kantonalbank AG announced Annual dividend of CHF 1.3000 per share payable on April 23, 2025, ex-date on April 17, 2025 and record date on April 22, 2025. Announcement • Apr 17
Swiss Prime Site Solutions AG completed the acquisition of Fundamenta Group (Schweiz) AG and Fundamenta Group Deutschland AG from Garcia and Marxer families, Luzerner Kantonalbank AG (SWX:LUKN) and the management. Swiss Prime Site Solutions AG agreed to acquire Fundamenta Group (Schweiz) AG and Fundamenta Group Deutschland AG from Garcia and Marxer families, Luzerner Kantonalbank AG (SWX:LUKN) and the management on March 14, 2024. The acquisition is being financed with shares from the authorized capital of Swiss Prime Site 25% and cash from available liquidity 75%. Swiss Prime Site will acquire all naming rights for Fundamenta. Belvédère Asset Management will remain in the ownership of the existing shareholders together with the associated brand and will continue to operate unchanged. The transaction is expected to be completed in the second quarter of 2024; no further approvals are necessary. Daniel Hasler, Stefan Blunschi, Jürg Frick, Dieter Grünblatt and Richard Stäuber of Homburger AG acted as legal advisor to Swiss Prime Site Solutions.
Swiss Prime Site Solutions AG completed the acquisition of Fundamenta Group (Schweiz) AG and Fundamenta Group Deutschland AG from Garcia and Marxer families, Luzerner Kantonalbank AG (SWX:LUKN) and the management on April 15, 2024. Upcoming Dividend • Apr 11
Upcoming dividend of CHF2.50 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 22 April 2024. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of Swiss dividend payers (4.0%). In line with average of industry peers (3.7%). Price Target Changed • Apr 04
Price target decreased by 7.4% to CHF87.00 Down from CHF94.00, the current price target is provided by 1 analyst. New target price is 24% above last closing price of CHF70.30. Stock is down 14% over the past year. The company posted earnings per share of CHF5.38 last year. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: CHF5.38 (vs CHF5.34 in FY 2022) Full year 2023 results: EPS: CHF5.38 (up from CHF5.34 in FY 2022). Revenue: CHF614.9m (up 5.0% from FY 2022). Net income: CHF265.4m (up 17% from FY 2022). Profit margin: 43% (up from 39% in FY 2022). The increase in margin was primarily driven by higher revenue. Cost-to-income ratio: 45.6% (up from 44.7% in FY 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Banks industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 01
Full year 2023 earnings released Full year 2023 results: Revenue: CHF614.9m (up 5.0% from FY 2022). Net income: CHF265.4m (up 17% from FY 2022). Profit margin: 43% (up from 39% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Switzerland. Reported Earnings • Oct 31
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: CHF124.2m (up 7.9% from 3Q 2022). Net income: CHF70.1m (up 23% from 3Q 2022). Profit margin: 56% (up from 50% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Banks industry in Switzerland. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 80% After last week's 80% share price decline to CHF81.40, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 16x in the Banks industry in Switzerland. Total loss to shareholders of 76% over the past three years. Buying Opportunity • Apr 25
Now 64% undervalued after recent price drop Over the last 90 days, the stock is down 81%. The fair value is estimated to be CHF229, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Upcoming Dividend • Apr 13
Upcoming dividend of CHF12.50 per share at 3.1% yield Eligible shareholders must have bought the stock before 20 April 2023. Payment date: 24 April 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Swiss dividend payers (4.3%). Lower than average of industry peers (3.6%). Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: CHF26.71 (vs CHF26.09 in FY 2021) Full year 2022 results: EPS: CHF26.71 (up from CHF26.09 in FY 2021). Revenue: CHF585.7m (flat on FY 2021). Net income: CHF226.6m (up 2.4% from FY 2021). Profit margin: 39% (in line with FY 2021). Cost-to-income ratio: 44.7% (up from 42.9% in FY 2021). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Feb 09
Full year 2022 earnings released Full year 2022 results: Revenue: CHF585.7m (flat on FY 2021). Net income: CHF226.6m (up 2.4% from FY 2021). Profit margin: 39% (in line with FY 2021). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Vice Chairman of the Board Martha Scheiber was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: CHF140.7m (down 14% from 3Q 2021). Net income: CHF57.1m (flat on 3Q 2021). Profit margin: 41% (up from 34% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.3% growth forecast for the Banks industry in Switzerland. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Roger Studer was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 07
Upcoming dividend of CHF12.50 per share Eligible shareholders must have bought the stock before 14 April 2022. Payment date: 20 April 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Swiss dividend payers (3.8%). Lower than average of industry peers (3.7%). Reported Earnings • Feb 05
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: CHF581.3m (up 9.4% from FY 2020). Net income: CHF221.4m (up 5.0% from FY 2020). Profit margin: 38% (down from 40% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 2.0% growth forecast for the banks industry in Switzerland. Reported Earnings • Nov 03
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CHF138.7m (up 9.7% from 3Q 2020). Net income: CHF56.6m (up 2.7% from 3Q 2020). Profit margin: 41% (down from 44% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 17
First quarter 2021 earnings released: EPS CHF6.47 The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CHF138.1m (up 13% from 1Q 2020). Net income: CHF54.9m (up 6.0% from 1Q 2020). Profit margin: 40% (down from 42% in 1Q 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Apr 15
Upcoming dividend of CHF12.50 per share Eligible shareholders must have bought the stock before 22 April 2021. Payment date: 26 April 2021. Trailing yield: 2.9%. Lower than top quartile of Swiss dividend payers (3.5%). Lower than average of industry peers (3.5%). Reported Earnings • Mar 20
Full year 2020 earnings released: EPS CHF24.88 (vs CHF24.17 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CHF531.1m (up 5.3% from FY 2019). Net income: CHF210.9m (up 2.9% from FY 2019). Profit margin: 40% (in line with FY 2019). Cost-to-income ratio: 45.7% (down from 47.0% in FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 24
New 90-day high: CHF418 The company is up 5.0% from its price of CHF400 on 26 November 2020. The Swiss market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is flat over the same period. Is New 90 Day High Low • Feb 03
New 90-day high: CHF409 The company is up 2.0% from its price of CHF402 on 05 November 2020. The Swiss market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Banks industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 05
New 90-day high: CHF408 The company is up 8.0% from its price of CHF376 on 06 August 2020. The Swiss market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is down 2.0% over the same period. 
