Renaissance Technologies LLC Sells 50,954 Shares of LINKBANCORP, Inc. (NASDAQ:LNKB)

Renaissance Technologies LLC decreased its holdings in LINKBANCORP, Inc. (NASDAQ:LNKB - Free Report) by 56.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,046 shares of the company's stock after selling 50,954 shares during the quarter. Renaissance Technologies LLC owned 0.10% of LINKBANCORP worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB increased its holdings in shares of LINKBANCORP by 2,122.0% during the fourth 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. bought a new position in LINKBANCORP during the 4th quarter worth $78,000. Wells Fargo & Company MN increased its stake in LINKBANCORP by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 12,989 shares of the company's stock worth $97,000 after acquiring an additional 2,829 shares during the period. Stonebridge Financial Group LLC acquired a new position in LINKBANCORP in the 4th quarter valued at $150,000. Finally, JPMorgan Chase & Co. lifted its position in shares of LINKBANCORP by 133.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,788 shares of the company's stock valued at $191,000 after acquiring an additional 17,011 shares during the period. Institutional investors own 37.52% of the company's stock.

Wall Street Analyst Weigh In

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

LINKBANCORP Price Performance

Shares of LNKB stock traded down $0.11 during trading hours on Friday, reaching $7.00. The company's stock had a trading volume of 15,484 shares, compared to its average volume of 62,241. LINKBANCORP, Inc. has a fifty-two week low of $5.86 and a fifty-two week high of $7.98. The firm's 50 day simple moving average is $6.75 and its 200-day simple moving average is $7.16. 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 company has a market capitalization of $261.64 million, a price-to-earnings ratio of 10.00 and a beta of 0.49.

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

LINKBANCORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Friday, May 30th. LINKBANCORP's dividend payout ratio is 31.25%.

LINKBANCORP 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.