LINKBANCORP (NASDAQ:LNKB) Trading 0.3% Higher - Here's What Happened

Key Points

• Shares of LINKBANCORP (NASDAQ:LNKB) rose 0.3% to $8.66 on Monday with ~103,892 shares traded (about 13% above average); the stock carries a market cap of $324.5M and a P/E of 9.62.
• Analysts are mixed: Weiss Ratings upgraded the stock to a Buy while Zacks cut it to Hold, and the consensus rating is Hold with a target price of $9.63 (one Buy, three Holds).
• LINKBANCORP reported Q1 EPS of $0.10, missing estimates of $0.23 while revenue was roughly in line at $30.04M; the firm posted a net margin of 17.97% and ROE of 8.8%, and analysts forecast FY EPS of 0.94.

LINKBANCORP, Inc. (NASDAQ:LNKB - Get Free Report) shares rose 0.3% on Monday . The stock traded as high as $8.66 and last traded at $8.66. Approximately 103,892 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 91,744 shares. The stock had previously closed at $8.63.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of LINKBANCORP from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, January 20th. Zacks Research lowered shares of LINKBANCORP from a "strong-buy" rating to a "hold" rating in a report on Monday, February 16th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, LINKBANCORP currently has a consensus rating of "Hold" and a consensus target price of $9.63.

LINKBANCORP Stock Performance

The stock has a market cap of $324.47 million, a price-to-earnings ratio of 9.62 and a beta of 0.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $8.22.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last released its earnings results on Monday, January 26th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.13). The firm had revenue of $30.04 million during the quarter, compared to analyst estimates of $30.03 million. LINKBANCORP had a net margin of 17.97% and a return on equity of 8.80%. Analysts forecast that LINKBANCORP, Inc. will post 0.94 EPS for the current fiscal year.

Institutional Trading of LINKBANCORP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in LINKBANCORP by 359.5% during the 3rd quarter. CWM LLC now owns 3,837 shares of the company's stock worth $27,000 after purchasing an additional 3,002 shares during the last quarter. PenderFund Capital Management Ltd. bought a new position in shares of LINKBANCORP in the 4th quarter valued at about $43,000. BNP Paribas Financial Markets boosted its stake in shares of LINKBANCORP by 166.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,277 shares of the company's stock valued at $52,000 after purchasing an additional 4,548 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in shares of LINKBANCORP by 63.3% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,928 shares of the company's stock worth $57,000 after buying an additional 3,074 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of LINKBANCORP by 2,798.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,695 shares of the company's stock worth $62,000 after buying an additional 8,395 shares during the last quarter. 37.52% of the stock is currently owned by institutional investors and hedge funds.

LINKBANCORP Company Profile

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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