LINKBANCORP, Inc. (NASDAQ:LNKB) Sees Significant Increase in Short Interest

LINKBANCORP, Inc. (NASDAQ:LNKB) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 233,701 shares, a growth of 37.1% from the December 31st total of 170,490 shares. Based on an average trading volume of 273,765 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.0% of the company’s shares are sold short. Approximately 1.0% of the company’s shares are sold short. Based on an average trading volume of 273,765 shares, the days-to-cover ratio is presently 0.9 days.

LINKBANCORP Stock Performance

Shares of NASDAQ LNKB opened at $8.92 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. LINKBANCORP has a one year low of $6.09 and a one year high of $9.04. The business’s 50-day moving average price is $8.30 and its two-hundred day moving average price is $7.57. The company has a market capitalization of $334.14 million, a P/E ratio of 9.91 and a beta of 0.40.

LINKBANCORP (NASDAQ:LNKB) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.13). The firm had revenue of $30.04 million for the quarter, compared to analyst estimates of $30.03 million. LINKBANCORP had a net margin of 17.97% and a return on equity of 8.85%. Analysts anticipate that LINKBANCORP will post 0.84 earnings per share for the current fiscal year.

LINKBANCORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $0.075 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.30 dividend on an annualized basis and a yield of 3.4%. LINKBANCORP’s payout ratio is 33.33%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Hovde Group lowered shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 price objective for the company. in a research note on Friday, December 19th. Zacks Research raised LINKBANCORP from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. DA Davidson downgraded LINKBANCORP from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Weiss Ratings raised LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Fourthstone LLC boosted its holdings 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 purchasing an additional 202,598 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of LINKBANCORP in the third quarter worth about $1,187,000. PMC FIG Opportunities LLC bought a new stake in shares of LINKBANCORP during the 3rd quarter worth about $882,000. Bridgeway Capital Management LLC acquired a new position in shares of LINKBANCORP during the 3rd quarter valued at about $471,000. Finally, Salzhauer Michael acquired a new position in shares of LINKBANCORP during the 4th quarter valued at about $449,000. Institutional investors own 37.52% of the company’s stock.

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.