Mendon Capital Advisors Corp Acquires 41,873 Shares of LINKBANCORP, Inc. (NASDAQ:LNKB)

Mendon Capital Advisors Corp grew its holdings in LINKBANCORP, Inc. (NASDAQ:LNKB - Free Report) by 64.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,028 shares of the company's stock after acquiring an additional 41,873 shares during the period. Mendon Capital Advisors Corp owned about 0.29% of LINKBANCORP worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in LNKB. Wilmington Savings Fund Society FSB boosted its stake in LINKBANCORP by 2,122.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,666 shares of the company's stock worth $50,000 after purchasing an additional 6,366 shares during the period. Invesco Ltd. purchased a new position in LINKBANCORP during the fourth quarter valued at $78,000. Wells Fargo & Company MN increased its holdings in LINKBANCORP by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 12,989 shares of the company's stock valued at $97,000 after acquiring an additional 2,829 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of LINKBANCORP during the 4th quarter valued at about $150,000. Finally, JPMorgan Chase & Co. grew its position in shares of LINKBANCORP by 133.1% during the third quarter. JPMorgan Chase & Co. now owns 29,788 shares of the company's stock valued at $191,000 after purchasing an additional 17,011 shares in the last quarter. Institutional investors own 37.52% of the company's stock.

LINKBANCORP Trading Down 1.1 %

LNKB traded down $0.07 on Friday, reaching $6.55. 28,394 shares of the company traded hands, compared to its average volume of 61,749. The company has a market cap of $244.82 million, a P/E ratio of 9.36 and a beta of 0.51. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. LINKBANCORP, Inc. has a one year low of $5.86 and a one year high of $7.98. The firm has a fifty day simple moving average of $6.87 and a two-hundred day simple moving average of $7.12.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. LINKBANCORP had a return on equity of 9.89% and a net margin of 15.64%. As a group, equities research analysts expect that LINKBANCORP, Inc. will post 0.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on LNKB shares. Hovde Group started coverage on LINKBANCORP in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $8.50 price objective on the stock. DA Davidson restated a "buy" rating and issued a $9.00 target price on shares of LINKBANCORP in a report on Thursday, January 30th.

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.