LINKBANCORP, Inc. to Issue Quarterly Dividend of $0.08 (NASDAQ:LNKB)

Key Points

• LINKBANCORP, Inc. has declared a quarterly dividend of $0.08, providing a 4.10% yield, with a payout ratio of 32.6%, indicating good earnings coverage for this dividend.
• The company's latest earnings report showed an EPS of $0.20, matching analyst expectations, with analysts projecting a future EPS of $0.94 for the next year.
• Hovde Group initiated coverage with an “outperform” rating and set a target price of $8.50 for LINKBANCORP's stock.

LINKBANCORP, Inc. (NASDAQ:LNKB - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.075 per share on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 29th.

LINKBANCORP has a payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect LINKBANCORP to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 31.9%.

LINKBANCORP Price Performance

Shares of NASDAQ:LNKB traded down $0.18 during midday trading on Friday, reaching $6.70. 63,612 shares of the company's stock were exchanged, compared to its average volume of 46,245. The company's 50 day simple moving average is $7.16 and its two-hundred day simple moving average is $7.06. The firm has a market capitalization of $250.48 million, a PE ratio of 6.70 and a beta of 0.48. LINKBANCORP has a 12 month low of $6.00 and a 12 month high of $7.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 1.02.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. The business had revenue of $27.88 million during the quarter, compared to analysts' expectations of $28.88 million. LINKBANCORP had a net margin of 20.62% and a return on equity of 10.45%. Equities research analysts expect that LINKBANCORP will post 0.84 earnings per share for the current fiscal year.

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.