Ringkjoebing Landbobank A/S

Ringkjøbing Landbobank has announced a DKK 400 million share buyback for 2026, a capital management move that would reduce the share count if completed as planned. The bank's stock has gained 123.0% over the past five years, and the new programme suggests management sees scope to adjust its capital base. Under the Excess Returns model, Ringkjøbing Landbobank is projected with a book value of DKK488.23 per share rising toward a stable DKK573.53, stable EPS of DKK122.42 per share based on return on equity estimates from 4 analysts, and an average return on equity of 21.34%. Against a cost of equity of DKK36.32 per share, that leaves an excess return of DKK86.10 per share, and the model puts the bank's estimated intrinsic value substantially above its current share price of DKK1,762.00. Because the buyback reduces the share count, the programme can support those per share excess returns even if overall profit stays flat.

Ringkjøbing Landbobank will implement a new share buyback programme of DKK 400 million for cancellation at a future general meeting, in accordance with its corporate announcement of 2 October 2026. The programme runs from 12 October 2026 up to and including 8 January 2027, during which the bank will buy back its own shares for a total of up to DKK 400 million, but to a maximum of 500,000 shares. The buyback is based on the general authority granted to the board of directors by the annual general meeting of 4 March 2026 and will be carried out under the Safe Harbour rules of Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) No 2016/1052. Ringkjøbing Landbobank has appointed Danske Bank as lead manager, and Danske Bank will make all trading decisions independently, without influence from the bank. The purpose of the programme is to adjust the bank's capital structure, and the bank will issue a separate weekly announcement to Nasdaq Copenhagen stating the number and value of shares purchased.

Ringkjøbing Landbobank will implement a new share buyback programme of up to DKK 400 million for cancellation at a future general meeting. The programme runs from 10 August 2026 to 9 October 2026, with a maximum of 500,000 shares to be repurchased. Danske Bank has been appointed lead manager and will make all trading decisions independently under Safe Harbour rules. The bank may suspend or stop the buyback at any time, and weekly announcements will detail purchases.

Ringkjøbing Landbobank has upgraded its full-year 2026 net profit guidance to between 2.2 and 2.5 billion kroner following a first-half net profit of 1.194 billion kroner, which delivered a return on tangible equity of 22 percent per annum. The bank reported a core result of 1.595 billion kroner for the first six months, with total core income of 2.120 billion kroner and loan impairment reversals of 31 million kroner. Costs rose 4 percent compared with the first half of 2025, producing a cost-to-income ratio of 26.2 percent, while lending and deposits grew at annual rates of 13 percent and 12 percent respectively. The bank also noted that its 400-million-kroner share buyback program is nearing completion and will be followed by a new one, and that Moody’s reaffirmed its Aa3 long-term deposit rating in June 2026.

Ringkjøbing Landbobank disclosed its latest share buyback transactions under its ongoing programme, which runs from 6 May 2026 to 7 August 2026. During week 30, the bank repurchased a total of 13,400 shares at an average price of DKK 1,727.69, bringing the total bought back under the current programme to 216,200 shares for DKK 341,132,231. The programme allows buybacks of up to DKK 400 million, with a maximum of 500,000 shares. Including a previous DKK 500 million programme completed earlier in 2026, the bank now holds 531,800 own shares, representing 2.19% of its share capital. The transactions were executed on Nasdaq Copenhagen in compliance with the EU Safe Harbour regulation.

Ringkjøbing Landbobank has reported the transactions for week 28 of its ongoing share buyback programme, which runs from 6 May 2026 to 7 August 2026. During the week, the bank bought back 2,500 shares each day from 6 July to 10 July at average prices of DKK 1,667.64, DKK 1,680.46, DKK 1,666.14, DKK 1,693.78, and DKK 1,680.12 respectively. The total number of shares repurchased under the programme now stands at 190,300 at an average price of DKK 1,559.20, amounting to a total of DKK 296,714,916. The programme allows for buybacks of up to DKK 400 million, with a maximum of 500,000 shares. Including a previous DKK 500 million programme executed earlier in 2026, the bank has bought back a total of 505,900 shares at an average price of DKK 1,574.84, representing 2.03% of its share capital.

Ringkjøbing Landbobank A/S carried out an early redemption on 23 June 2026 of its Series no. 28 Senior Non-Preferred bond, a EUR 15,000,000 issue with ISIN XS2357537666 originally issued on 23 June 2021 and first callable on 23 June 2026. The issuer will apply for the bond to be removed from the London Stock Exchange and the FCA’s official list.