Landmark Bancorp Says It Can’t Explain Stock’s 17% Increase

Landmark Bancorp’s stock gained $1 a share to close at $6.75 in NASDAQ trading Tuesday.

Company officials said they knew of no reason for the 17% increase. “We do know that some smaller institutional investors are buying” the stock, said Craig D. Collette, the company’s president and chief executive. “Our stock is trading at about 50% of book value, which is very, very low. . . . Maybe some of these out-of-state institutions are taking a contrarian view.”

Landmark, based in La Habra, is the parent company of Landmark Bank. Last month it reported a first-quarter profit of $145,000. Assets declined 9% to $201 million.