LINKBANCORP, Inc. (NASDAQ:LNKB) Short Interest Down 31.3% in December

LINKBANCORP, Inc. (NASDAQ:LNKB) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 170,490 shares, a drop of 31.3% from the December 15th total of 248,258 shares. Based on an average daily trading volume, of 241,503 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.7% of the shares of the stock are short sold. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 241,503 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On LINKBANCORP

Several large investors have recently modified their holdings of the stock. Fourthstone LLC lifted its position in LINKBANCORP by 162.3% in the second quarter. Fourthstone LLC now owns 327,439 shares of the company’s stock worth $2,394,000 after buying an additional 202,598 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of LINKBANCORP during the third quarter valued at $1,187,000. PMC FIG Opportunities LLC bought a new position in LINKBANCORP in the 3rd quarter worth about $882,000. Bridgeway Capital Management LLC bought a new position in LINKBANCORP in the third quarter worth approximately $471,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of LINKBANCORP during the 3rd quarter worth $284,000. Institutional investors own 37.52% of the company’s stock.

LINKBANCORP Price Performance

LINKBANCORP stock traded down $0.05 during mid-day trading on Friday, reaching $8.67. 81,820 shares of the company’s stock traded hands, compared to its average volume of 259,695. LINKBANCORP has a 12-month low of $6.09 and a 12-month high of $9.04. The company has a market cap of $324.78 million, a price-to-earnings ratio of 8.50 and a beta of 0.40. The stock has a 50 day moving average of $8.01 and a two-hundred day moving average of $7.48. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33.

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

LINKBANCORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $0.075 per share. The ex-dividend date was Friday, November 28th. This represents a $0.30 dividend on an annualized basis and a yield of 3.5%. LINKBANCORP’s dividend payout ratio is 29.41%.

Analyst Upgrades and Downgrades

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

LINKBANCORP Company Profile

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.