LINKBANCORP, Inc. (NASDAQ:LNKB) Director Acquires $13,971.48 in Stock

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

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

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

LINKBANCORP Trading Up 1.0%

Shares of LNKB traded up $0.07 during mid-day trading on Friday, hitting $6.87. 52,890 shares of the company's stock traded hands, compared to its average volume of 62,434. 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 $256.83 million, a P/E ratio of 9.81 and a beta of 0.49. The business's 50-day moving average price is $6.79 and its 200-day moving average price is $7.15. LINKBANCORP, Inc. has a 1 year low of $5.86 and a 1 year high of $7.98.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.20. LINKBANCORP had a net margin of 15.64% and a return on equity of 9.89%. The business had revenue of $39.09 million for the quarter, compared to the consensus estimate of $28.56 million. As a group, sell-side analysts forecast that LINKBANCORP, Inc. will post 0.84 EPS for the current fiscal year.

LINKBANCORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Friday, May 30th. LINKBANCORP's payout ratio is currently 31.25%.

Institutional Trading of LINKBANCORP

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

Analyst Ratings Changes

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

LINKBANCORP Company 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.