LINKBANCORP, Inc. (NASDAQ:LNKB) Sees Large Decline in Short Interest

LINKBANCORP, Inc. (NASDAQ:LNKB) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 170,490 shares, a decrease of 31.3% from the December 15th total of 248,258 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 241,503 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 241,503 shares, the short-interest ratio is currently 0.7 days. Approximately 0.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bernardo Wealth Planning LLC acquired a new stake in LINKBANCORP in the second quarter valued at approximately $200,000. Fourthstone LLC raised its position in shares of LINKBANCORP by 162.3% during the second quarter. Fourthstone LLC now owns 327,439 shares of the company’s stock worth $2,394,000 after purchasing an additional 202,598 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of LINKBANCORP in the 2nd quarter worth $161,000. Bridgeway Capital Management LLC acquired a new stake in LINKBANCORP in the 3rd quarter valued at $471,000. Finally, Squarepoint Ops LLC grew its position in LINKBANCORP by 104.0% in the 3rd quarter. Squarepoint Ops LLC now owns 39,235 shares of the company’s stock valued at $280,000 after purchasing an additional 20,001 shares during the period. 37.52% of the stock is owned by institutional investors and hedge funds.

LINKBANCORP Trading Down 0.6%

Shares of LNKB stock traded down $0.05 during trading hours on Friday, hitting $8.67. 81,669 shares of the company were exchanged, compared to its average volume of 259,393. The company has a 50 day simple moving average of $7.98 and a two-hundred day simple moving average of $7.47. The firm has a market cap of $324.78 million, a P/E ratio of 8.50 and a beta of 0.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. LINKBANCORP has a fifty-two week low of $6.09 and a fifty-two week high of $9.04.

LINKBANCORP (NASDAQ:LNKB) last issued its earnings results on Monday, October 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $29.19 million for the quarter, compared to analyst estimates of $29.39 million. LINKBANCORP had a net margin of 20.81% and a return on equity of 10.28%. Equities analysts anticipate that LINKBANCORP will post 0.84 EPS for the current year.

LINKBANCORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.075 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.30 annualized dividend and a dividend yield of 3.5%. LINKBANCORP’s dividend payout ratio (DPR) is currently 29.41%.

Analysts Set New Price Targets

A number of research firms have commented on LNKB. Weiss Ratings reiterated a “hold (c+)” rating on shares of LINKBANCORP in a research report on Monday, December 29th. DA Davidson lowered LINKBANCORP from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Hovde Group downgraded shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 target price for the company. in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, LINKBANCORP currently has an average rating of “Hold” and an average price target of $9.63.

About LINKBANCORP

Link Bancorp, Inc is a bank holding company headquartered in Wheeling, West Virginia, serving as the parent of Link Bank. Established to support the growth of a regional financial institution, the company offers a broad range of banking and financial services through its subsidiary, Link Bank. With an emphasis on community banking, Link Bancorp focuses on building long-term relationships with individuals, businesses and nonprofit organizations across its footprint.

The company’s core activities include commercial and consumer lending, residential mortgage financing, deposit account services and treasury management solutions.