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Luzerner Kantonalbank

LSE:0QNU
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0QNU
LSE
CHF4B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Luzerner Kantonalbank AG provides banking products and services in Switzerland. The last earnings update was 3 days ago. More info.


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0QNU Share Price and Events
7 Day Returns
0.2%
LSE:0QNU
3.1%
GB Banks
1%
GB Market
1 Year Returns
-8.9%
LSE:0QNU
-6.9%
GB Banks
1.6%
GB Market
0QNU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Luzerner Kantonalbank (0QNU) 0.2% 1.4% -0.3% -8.9% - -
GB Banks 3.1% 3.6% 7.4% -6.9% 17.4% -11.6%
GB Market 1% 2.3% 8.6% 1.6% 14% 5.9%
1 Year Return vs Industry and Market
  • 0QNU underperformed the Banks industry which returned -6.9% over the past year.
  • 0QNU underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.6% over the past year.
Price Volatility
0QNU
Industry
5yr Volatility vs Market

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Luzerner Kantonalbank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Luzerner Kantonalbank.

LSE:0QNU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CHF320.89 * 7.5%
CHF23.96
Book Value of Equity per Share Median Book Value from the past 5 years. CHF320.89
Discount Rate (Cost of Equity) See below 12.3%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0QNU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.591 (1 + (1- 18%) (348.25%))
1.857
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.857 * 5.96%)
12.29%

Discounted Cash Flow Calculation for LSE:0QNU using Excess Returns Model Model

The calculations below outline how an intrinsic value for Luzerner Kantonalbank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0QNU Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.5% – 12.29%) * CHF320.89)
CHF-15.49
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF-15.49 / (12.29% - 1.23%)
CHF-140.00
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF320.89 + CHF-140.00
CHF180.89
LSE:0QNU Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0QNU represents 1.01105x of SWX:LUKN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01105x
Value per Share
(Listing Adjusted, CHF)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 180.89 x 1.01105
CHF182.89
Value per share (CHF) From above. CHF182.89
Current discount Discount to share price of CHF480.25
= -1 x (CHF480.25 - CHF182.89) / CHF182.89
-162.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Luzerner Kantonalbank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Luzerner Kantonalbank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Luzerner Kantonalbank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0QNU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CHF CHF23.67
SWX:LUKN Share Price ** SWX (2019-04-15) in CHF CHF475
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.28x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Luzerner Kantonalbank.

LSE:0QNU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:LUKN Share Price ÷ EPS (both in CHF)

= 475 ÷ 23.67

20.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Luzerner Kantonalbank is overvalued based on earnings compared to the GB Banks industry average.
  • Luzerner Kantonalbank is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Luzerner Kantonalbank's expected growth come at a high price?
Raw Data
LSE:0QNU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
11.1%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.87x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Luzerner Kantonalbank, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Luzerner Kantonalbank's assets?
Raw Data
LSE:0QNU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CHF CHF332.89
SWX:LUKN Share Price * SWX (2019-04-15) in CHF CHF475
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.52x
LSE:0QNU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:LUKN Share Price ÷ Book Value per Share (both in CHF)

= 475 ÷ 332.89

1.43x

* Primary Listing of Luzerner Kantonalbank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Luzerner Kantonalbank is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess Luzerner Kantonalbank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Luzerner Kantonalbank has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Luzerner Kantonalbank expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Luzerner Kantonalbank, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Luzerner Kantonalbank expected to grow at an attractive rate?
  • Luzerner Kantonalbank's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Luzerner Kantonalbank's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Luzerner Kantonalbank's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0QNU Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0QNU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 11.1%
LSE:0QNU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 2%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0QNU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0QNU Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 512 1
2020-12-31 505 1
2019-12-31 497 1
LSE:0QNU Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-03-31 484 201
2018-12-31 482 1,706 200
2018-09-30 451 197
2018-06-30 457 202
2018-03-31 458 202
2017-12-31 475 -212 198
2017-09-30 477 199
2017-06-30 441 194
2017-03-31 455 191
2016-12-31 429 669 187
2016-09-30 438 183
2016-06-30 436 178

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Luzerner Kantonalbank's earnings are expected to grow by 11.1% yearly, however this is not considered high growth (20% yearly).
  • Luzerner Kantonalbank's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0QNU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Luzerner Kantonalbank Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QNU Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
LSE:0QNU Past Financials Data
Date (Data in CHF Millions) EPS *
2019-03-31 23.67
2018-12-31 23.61
2018-09-30
2018-06-30
2018-03-31
2017-12-31 23.41
2017-09-30
2017-06-30
2017-03-31
2016-12-31 22.02
2016-09-30
2016-06-30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Luzerner Kantonalbank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Luzerner Kantonalbank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Luzerner Kantonalbank has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Luzerner Kantonalbank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Luzerner Kantonalbank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Luzerner Kantonalbank's year on year earnings growth rate has been positive over the past 5 years.
  • Luzerner Kantonalbank's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Luzerner Kantonalbank's 1-year earnings growth is negative, it can't be compared to the GB Banks industry average.
Earnings and Revenue History
Luzerner Kantonalbank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Luzerner Kantonalbank Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QNU Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 483.96 200.73 246.33
2018-12-31 482.29 200.43 245.10
2018-09-30 451.09 196.61 218.94
2018-06-30 457.35 202.05 218.91
2018-03-31 457.53 201.60 218.19
2017-12-31 475.07 198.43 239.43
2017-09-30 477.14 198.70 238.10
2017-06-30 440.71 193.62 207.32
2017-03-31 455.15 190.77 231.66
2016-12-31 428.75 186.57 209.14
2016-09-30 438.20 182.63 221.52
2016-06-30 436.05 177.88 226.22
2016-03-31 425.51 177.07 216.50
2015-12-31 429.03 180.11 215.90
2015-09-30 421.31 177.25 214.40
2015-06-30 423.04 178.61 206.21
2015-03-31 432.71 180.57 215.35
2014-12-31 439.64 181.81 215.11
2014-09-30 432.11 179.32 217.24
2014-06-30 436.88 180.77 217.86
2014-03-31 431.97 177.42 216.33
2013-12-31 427.77 174.29 214.00
2013-09-30 431.12 173.31 220.85
2013-06-30 431.87 172.73 220.87
2013-03-31 432.50 171.71 221.54
2012-12-31 430.45 168.27 221.15
2012-09-30 426.80 170.97 210.58
2012-06-30 422.75 165.06 210.84

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Luzerner Kantonalbank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Luzerner Kantonalbank used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Luzerner Kantonalbank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Luzerner Kantonalbank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Luzerner Kantonalbank has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Luzerner Kantonalbank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Luzerner Kantonalbank Company Filings, last reported 2 weeks ago.

LSE:0QNU Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,822.45 14,025.19 4,467.95
2018-12-31 2,769.88 13,548.12 4,605.33
2018-09-30 2,723.12 11,643.29 3,328.21
2018-06-30 2,678.03 13,462.38 5,341.18
2018-03-31 2,731.38 12,421.85 4,919.73
2017-12-31 2,670.34 10,979.73 4,425.31
2017-09-30 2,633.25 11,664.06 5,303.20
2017-06-30 2,581.84 10,948.50 5,018.42
2017-03-31 2,629.49 11,454.95 5,002.10
2016-12-31 2,579.28 10,397.68 4,902.47
2016-09-30 2,532.61 10,163.81 4,624.17
2016-06-30 2,578.35 10,562.99 4,525.69
2016-03-31 2,533.13 10,297.40 4,615.60
2015-12-31 2,488.19 9,570.69 4,328.76
2015-09-30 2,441.42 9,139.70 4,529.01
2015-06-30 2,398.50 9,011.52 4,336.67
2015-03-31 2,448.02 9,060.69 4,643.13
2014-12-31 2,385.12 6,280.07 1,492.22
2014-09-30 1,684.39 5,849.25 538.02
2014-06-30 1,640.16 5,356.42 1,062.23
2014-03-31 1,684.34 5,560.81 1,568.82
2013-12-31 2,184.30 5,205.50 2,517.77
2013-09-30 1,589.62 5,300.84 1,988.99
2013-06-30 1,545.78 5,584.05 2,575.53
2013-03-31 1,596.98 6,627.76 1,820.17
2012-12-31 1,548.46 6,155.31 3,362.21
2012-09-30 1,503.40 6,496.15 2,513.11
2012-06-30
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Luzerner Kantonalbank has an acceptable proportion of non-loan assets held.
  • Luzerner Kantonalbank's liabilities are made up of primarily low risk sources of funding.
  • Luzerner Kantonalbank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Luzerner Kantonalbank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Luzerner Kantonalbank has a sufficient allowance for bad loans.
  • Luzerner Kantonalbank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Luzerner Kantonalbank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Luzerner Kantonalbank has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Luzerner Kantonalbank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.63%
Current annual income from Luzerner Kantonalbank dividends. Estimated to be 2.7% next year.
If you bought CHF2,000 of Luzerner Kantonalbank shares you are expected to receive CHF53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Luzerner Kantonalbank's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Luzerner Kantonalbank's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.12%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0QNU Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0QNU Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 13.00 1.00
2020-12-31 13.00 1.00
2019-12-31 12.50 1.00
LSE:0QNU Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-03-12 12.500 2.624
2018-03-16 12.000 2.402
2017-03-15 11.500 2.541
2017-01-31 11.500 2.751
2016-03-16 11.000 2.714
2016-02-02 11.000 2.865
2015-03-24 11.000 3.044
2014-03-26 11.000 3.114
2013-03-01 11.000 3.080
2013-02-05 11.000 3.066
2012-03-30 11.000 3.319
2012-01-31 11.000 3.492
2011-03-17 11.000 3.433
2011-02-01 11.000 3.376
2010-01-04 11.000 3.630
2009-04-20 10.000 3.820

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Luzerner Kantonalbank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Luzerner Kantonalbank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Luzerner Kantonalbank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Luzerner Kantonalbank has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Daniel Salzmann
AGE 54
TENURE AS CEO 5.3 years
CEO Bio

Mr. Daniel Salzmann has been Chief Executive Officer at Luzerner Kantonalbank AG since July 2014 and has been its Member of Executive Board since 2004. Mr. Salzmann serves as Head of Presidential Department at Luzerner Kantonalbank AG. Mr. Salzmann served as Head of Chief Executive Officer Office at Luzerner Kantonalbank AG since July 2014. Mr. Salzmann served as Interim Chief Executive Officer of Luzerner Kantonalbank AG since January 2014. He served as Head of Individual & Commercial Customers Department and Head of Retail Banking at Luzerner Kantonalbank AG. He served as Deputy Chief Executive Officer of Luzerner Kantonalbank AG. Mr. Salzmann served as Director of Accounting/Controlling of Ascom Telematic AG, since 1990 to 1993. Mr. Salzmann served as Director, Private and Commercial Customers Department of Luzerner Kantonalbank. Since 1993, he held several management positions in retail banking at the former SBG (today UBS) and at CS. He has been Member of the Management Board at Luzerner Kantonalbank, since 2004 and Bank Coop. since 2003. He served as Board of Directors of Parcom Systems AG. He served as Member of the Business Committee of AGI-Kooperation. Mr. Salzmann served as Foundation Board of the Foundation Konzerthaus, Lucerne. Mr. Salzmann holds Executive MBA from the School of Economics, Lucerne in 1996 and Advanced Executive Program from Kellogg School of Management, Evanston/Chicago (USA) in 2002.

CEO Compensation
  • Insufficient data for Daniel to compare compensation growth.
  • Insufficient data for Daniel to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Luzerner Kantonalbank management team in years:

9.3
Average Tenure
52
Average Age
  • The average tenure for the Luzerner Kantonalbank management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Daniel Salzmann

TITLE
CEO, Head of Presidential Department & Member of Executive Board
AGE
54
TENURE
5.3 yrs

Marcel Hurschler

TITLE
CFO, Head of Department Finance & Computer Science and Member of Executive Board
AGE
51
TENURE
11.3 yrs

Beat Hodel

TITLE
Head of Department Market Services & Member of Executive Board
AGE
52
TENURE
10.3 yrs

Leo Grüter

TITLE
Head of Corporate Clients & Private Banking and Member of Executive Board
AGE
56
TENURE
9.3 yrs

Stefan Studer

TITLE
Head of Department Private & Business Customers and Member of Executive Board
AGE
44
TENURE
4.3 yrs

Daniel von Arx

TITLE
Head of Communications

André Chevalley

TITLE
Head of Corporate Clients Segment - Lucerne

Flavio Ciglia

TITLE
Head of Real Estate Services

Markus Ruggiero

TITLE
Head of Cash Management Services

Claude Moser

TITLE
Head of Import & Export Finance - Corporate Clients
Board of Directors Tenure

Average tenure and age of the Luzerner Kantonalbank board of directors in years:

2.9
Average Tenure
55
Average Age
  • The average tenure for the Luzerner Kantonalbank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Doris Schurter

TITLE
Chairperson of the Board
COMPENSATION
CHF82K
AGE
62
TENURE
2 yrs

Josef Felder

TITLE
Vice Chairman of the Board
COMPENSATION
CHF89K
AGE
57
TENURE
3.3 yrs

Andreas Emmenegger

TITLE
Director
AGE
52
TENURE
2.9 yrs

Max Pfister

TITLE
Director
COMPENSATION
CHF69K
AGE
67
TENURE
7.8 yrs

Andreas Dietrich

TITLE
Director
AGE
42
TENURE
3.9 yrs

Martha Scheiber

TITLE
Director
AGE
53
TENURE
4.9 yrs

Stefan Portmann

TITLE
Director
AGE
51
TENURE
2 yrs

Franz Grüter

TITLE
Director
AGE
55
TENURE
1.3 yrs

Markus Hongler

TITLE
Director
AGE
61
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Luzerner Kantonalbank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Luzerner Kantonalbank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Luzerner Kantonalbank AG provides banking products and services in Switzerland. It offers finance planning and investment management services; portfolio management; and investment advice, securities trading, derivatives, Lombard loans, documentary credits, collections, and guarantees. The company also provides payment, consultancy, and advisory services. It serves private customers, as well as small and medium-sized enterprises through a network of 26 branches. The company was formerly known as Kantonale Spar-und Leihkasse and changed its name to Luzerner Kantonalbank AG in 1892. Luzerner Kantonalbank AG was founded in 1850 and is based in Lucerne, Switzerland.

Details
Name: Luzerner Kantonalbank AG
0QNU
Exchange: LSE
Founded: 1850
CHF4,027,313,625
8,478,555
Website: http://www.lukb.ch
Address: Luzerner Kantonalbank AG
Pilatusstrasse 12,
Lucerne,
Lucerne, 6002,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX LUKN Participation Certificates SIX Swiss Exchange CH CHF 12. Mar 2001
LSE 0QNU Participation Certificates London Stock Exchange GB CHF 12. Mar 2001
BATS-CHIXE LUKNZ Participation Certificates BATS 'Chi-X Europe' GB CHF 12. Mar 2001
Number of employees
Current staff
Staff numbers
1,028
Luzerner Kantonalbank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:05
End of day share price update: 2019/04/15 00:00
Last estimates confirmation: 2019/02/08
Last earnings filing: 2019/04/15
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.