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

Key Points

• LINKBANCORP (NASDAQ:LNKB) shares experienced a minor decline of 0.3%, with trading activity escalating to 959,737 shares, significantly higher than the average volume of 65,971 shares.
• The company's stock has received a consensus rating of "Moderate Buy" from analysts, with an average target price set at $8.75.
• LINKBANCORP recently declared a quarterly dividend, yielding 4.2%, and reported a net margin of 20.62% along with a return on equity of 10.32%.

LINKBANCORP, Inc. (NASDAQ:LNKB - Get Free Report) shares traded down 0.3% on Wednesday . The company traded as low as $7.00 and last traded at $7.19. 959,737 shares traded hands during trading, an increase of 1,355% from the average session volume of 65,971 shares. The stock had previously closed at $7.21.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of LINKBANCORP in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.75.

LINKBANCORP Trading Down 0.3%

The business's fifty day moving average price is $7.19 and its 200 day moving average price is $7.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $269.27 million, a PE ratio of 7.19 and a beta of 0.46.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $8.47 million for the quarter. LINKBANCORP had a net margin of 20.62% and a return on equity of 10.32%. As a group, analysts expect that LINKBANCORP, Inc. will post 0.84 EPS for the current fiscal year.

LINKBANCORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, August 29th. LINKBANCORP's dividend payout ratio is presently 30.00%.

Institutional Trading of LINKBANCORP

A number of hedge funds have recently added to or reduced their stakes in LNKB. CWM LLC grew its holdings in LINKBANCORP by 359.5% in the 3rd quarter. CWM LLC now owns 3,837 shares of the company's stock valued at $27,000 after buying an additional 3,002 shares during the period. Osaic Holdings Inc. increased its position in LINKBANCORP by 70.0% during the second quarter. Osaic Holdings Inc. now owns 39,350 shares of the company's stock worth $288,000 after purchasing an additional 16,202 shares during the last quarter. Tower Research Capital LLC TRC increased its position in LINKBANCORP by 464.6% during the second quarter. Tower Research Capital LLC TRC now owns 9,407 shares of the company's stock worth $69,000 after purchasing an additional 7,741 shares during the last quarter. Mendon Capital Advisors Corp raised its stake in LINKBANCORP by 10.1% during the second quarter. Mendon Capital Advisors Corp now owns 100,000 shares of the company's stock worth $731,000 after purchasing an additional 9,143 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of LINKBANCORP by 0.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,992,525 shares of the company's stock valued at $14,565,000 after purchasing an additional 17,400 shares during the last quarter. 37.52% of the stock is owned by institutional investors and hedge funds.

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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