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

by · The Cerbat Gem

LINKBANCORP, Inc. (NASDAQ:LNKBGet Free Report) 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:LNKBGet Free Report) 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.

Get Our Latest Report on LINKBANCORP

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

(Get Free Report)

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.

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