Insider Buying: LINKBANCORP, Inc. (NASDAQ:LNKB) Director Purchases 2,076 Shares of Stock

LINKBANCORP, Inc. (NASDAQ:LNKB - Get Free Report) Director George Parmer acquired 2,076 shares of LINKBANCORP stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $6.73 per share, for a total transaction of $13,971.48. Following the completion of the purchase, the director now owns 195,664 shares in the company, valued at approximately $1,316,818.72. The trade was a 1.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

George Parmer also recently made the following trade(s):

• On Friday, May 23rd, George Parmer purchased 200 shares of LINKBANCORP stock. The shares were purchased at an average price of $6.73 per share, for a total transaction of $1,346.00.
• On Tuesday, May 6th, George Parmer purchased 1,900 shares of LINKBANCORP stock. The stock was bought at an average cost of $6.75 per share, for a total transaction of $12,825.00.

LINKBANCORP Stock Performance

Shares of LINKBANCORP stock traded down $0.01 during trading hours on Wednesday, reaching $6.78. 20,443 shares of the stock traded hands, compared to its average volume of 62,171. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $253.36 million, a price-to-earnings ratio of 9.69 and a beta of 0.49. The company has a 50 day moving average price of $6.80 and a 200 day moving average price of $7.16. LINKBANCORP, Inc. has a one year low of $5.86 and a one year high of $7.98.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $39.09 million during the quarter, compared to analysts' expectations of $28.56 million. LINKBANCORP had a return on equity of 9.89% and a net margin of 15.64%. On average, equities research analysts expect that LINKBANCORP, Inc. will post 0.84 earnings per share for the current fiscal year.

LINKBANCORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.075 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.30 dividend on an annualized basis and a yield of 4.43%. LINKBANCORP's dividend payout ratio is presently 31.25%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Hovde Group started coverage on LINKBANCORP in a report on Tuesday, April 1st. They issued an "outperform" rating and a $8.50 price target for the company. DA Davidson reaffirmed a "buy" rating and issued a $9.00 price target on shares of LINKBANCORP in a report on Thursday, January 30th.

Institutional Investors Weigh In On LINKBANCORP

Hedge funds and other institutional investors have recently bought and sold shares of the company. Enhancing Capital LLC purchased a new stake in shares of LINKBANCORP during the fourth quarter worth about $876,000. JPMorgan Chase & Co. boosted its position in LINKBANCORP by 145.8% in the fourth quarter. JPMorgan Chase & Co. now owns 73,217 shares of the company's stock valued at $548,000 after buying an additional 43,429 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of LINKBANCORP by 30.6% in the fourth quarter. Bank of New York Mellon Corp now owns 67,644 shares of the company's stock worth $506,000 after acquiring an additional 15,852 shares during the period. BNP Paribas Financial Markets acquired a new stake in LINKBANCORP during the fourth quarter worth about $351,000. Finally, Mendon Capital Advisors Corp boosted its position in LINKBANCORP by 64.3% in the 4th quarter. Mendon Capital Advisors Corp now owns 107,028 shares of the company's stock worth $801,000 after purchasing an additional 41,873 shares in the last quarter. Hedge funds and other institutional investors own 37.52% of the company's stock.

About LINKBANCORP

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.

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