Short Interest in LINKBANCORP, Inc. (NASDAQ:LNKB) Expands By 20.7%

LINKBANCORP, Inc. (NASDAQ:LNKB) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 288,313 shares, a growth of 20.7% from the January 29th total of 238,893 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average trading volume of 206,034 shares, the short-interest ratio is currently 1.4 days. Based on an average trading volume of 206,034 shares, the short-interest ratio is currently 1.4 days. Currently, 1.2% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities research analysts have commented on LNKB shares. Weiss Ratings raised shares of LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 20th. Zacks Research cut shares of LINKBANCORP from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Hovde Group cut 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 report on Friday, December 19th. Finally, DA Davidson downgraded LINKBANCORP from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.63.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in LINKBANCORP in the 2nd quarter valued at approximately $35,000. Los Angeles Capital Management LLC bought a new position in shares of LINKBANCORP during the 2nd quarter worth approximately $161,000. Geode Capital Management LLC raised its holdings in shares of LINKBANCORP by 0.4% in the second quarter. Geode Capital Management LLC now owns 587,084 shares of the company’s stock valued at $4,293,000 after purchasing an additional 2,291 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of LINKBANCORP in the second quarter valued at approximately $37,000. Finally, Bernardo Wealth Planning LLC bought a new stake in shares of LINKBANCORP in the second quarter worth $200,000. 37.52% of the stock is currently owned by institutional investors.

LINKBANCORP Stock Performance

Shares of LNKB opened at $8.81 on Wednesday. The firm has a market cap of $330.11 million, a P/E ratio of 9.79 and a beta of 0.40. LINKBANCORP has a twelve month low of $6.09 and a twelve month high of $9.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $7.86.

LINKBANCORP (NASDAQ:LNKB) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13). The company had revenue of $30.04 million for the quarter, compared to analyst estimates of $30.03 million. LINKBANCORP had a return on equity of 8.85% and a net margin of 17.97%. On average, analysts forecast that LINKBANCORP will post 0.84 EPS for the current fiscal year.

LINKBANCORP Dividend Announcement

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

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.