Emerald Mutual Fund Advisers Trust Sells 35,952 Shares of LINKBANCORP, Inc. (NASDAQ:LNKB)

Emerald Mutual Fund Advisers Trust decreased its holdings in LINKBANCORP, Inc. (NASDAQ:LNKB - Free Report) by 32.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,139 shares of the company's stock after selling 35,952 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.20% of LINKBANCORP worth $516,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. bought a new stake in shares of LINKBANCORP in the 4th quarter worth about $78,000. Wells Fargo & Company MN grew its holdings in shares of LINKBANCORP by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 12,989 shares of the company's stock worth $97,000 after purchasing an additional 2,829 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of LINKBANCORP by 31.1% in the 4th quarter. Bank of America Corp DE now owns 22,444 shares of the company's stock worth $168,000 after purchasing an additional 5,322 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of LINKBANCORP by 7.7% in the 4th quarter. Deutsche Bank AG now owns 30,566 shares of the company's stock worth $229,000 after purchasing an additional 2,190 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of LINKBANCORP in the 4th quarter worth about $351,000. Institutional investors and hedge funds own 37.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group initiated coverage on shares of LINKBANCORP in a report on Tuesday, April 1st. They issued an "outperform" rating and a $8.50 target price on the stock.

LINKBANCORP Price Performance

NASDAQ:LNKB traded up $0.05 during mid-day trading on Monday, reaching $7.44. 2,165 shares of the company were exchanged, compared to its average volume of 50,624. LINKBANCORP, Inc. has a 12 month low of $6.00 and a 12 month high of $7.98. The company has a fifty day moving average of $7.08 and a 200 day moving average of $7.06. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.35. The stock has a market cap of $278.14 million, a PE ratio of 7.75 and a beta of 0.48.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $39.09 million for the quarter, compared to analyst estimates of $28.56 million. LINKBANCORP had a net margin of 19.85% and a return on equity of 10.17%. On average, research analysts anticipate that LINKBANCORP, Inc. will post 0.84 EPS for the current fiscal year.

LINKBANCORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.03%. LINKBANCORP's dividend payout ratio is 31.25%.

LINKBANCORP Profile

LINKBANCORP, Inc operates as a bank holding company for The Gratz Bank, that provides various banking products and services to individuals, families, nonprofit, and business customers in Pennsylvania. Its deposit products include demand, saving, and money market accounts, as well as certificates of deposits.