LINKBANCORP (NASDAQ:LNKB) Cut to “Hold” at DA Davidson

DA Davidson cut shares of LINKBANCORP (NASDAQ:LNKB) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on LNKB. Weiss Ratings restated a “hold (c+)” rating on shares of LINKBANCORP in a report on Monday, December 15th. Hovde Group cut LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 price target on the stock. in a report on Friday, December 19th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.63.

LINKBANCORP Price Performance

NASDAQ LNKB opened at $8.48 on Monday. LINKBANCORP has a one year low of $6.09 and a one year high of $9.04. The stock has a 50-day moving average of $7.55 and a 200 day moving average of $7.32. 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 company has a market capitalization of $317.66 million, a price-to-earnings ratio of 8.31 and a beta of 0.43.

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

LINKBANCORP Announces Dividend

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

Institutional Trading of LINKBANCORP

Several hedge funds have recently bought and sold shares of LNKB. Charles Schwab Investment Management Inc. raised its stake in shares of LINKBANCORP by 12.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 64,967 shares of the company’s stock worth $440,000 after buying an additional 6,998 shares during the period. Nuveen LLC purchased a new stake in LINKBANCORP in the 1st quarter worth approximately $194,000. FJ Capital Management LLC raised its stake in LINKBANCORP by 5.3% during the 1st quarter. FJ Capital Management LLC now owns 3,728,660 shares of the company’s stock worth $25,280,000 after acquiring an additional 188,722 shares during the period. Atlantic Union Bankshares Corp purchased a new position in LINKBANCORP during the second quarter valued at approximately $35,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of LINKBANCORP in the second quarter worth approximately $161,000. 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.