Short Interest in LINKBANCORP, Inc. (NASDAQ:LNKB) Declines By 13.3%

LINKBANCORP, Inc. (NASDAQ:LNKB - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 259,200 shares, a decline of 13.3% from the April 30th total of 299,100 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 42,200 shares, the short-interest ratio is currently 6.1 days.

Institutional Investors Weigh In On LINKBANCORP

A number of hedge funds have recently added to or reduced their stakes in LNKB. FJ Capital Management LLC raised its position in shares of LINKBANCORP by 5.3% during the first quarter. FJ Capital Management LLC now owns 3,728,660 shares of the company's stock worth $25,280,000 after purchasing an additional 188,722 shares during the period. Nuveen LLC bought a new stake in LINKBANCORP during the 1st quarter valued at $194,000. Charles Schwab Investment Management Inc. increased its stake in LINKBANCORP by 12.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 64,967 shares of the company's stock valued at $440,000 after purchasing an additional 6,998 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in LINKBANCORP during the first quarter worth $811,000. Finally, Deutsche Bank AG lifted its stake in shares of LINKBANCORP by 7.7% in the fourth quarter. Deutsche Bank AG now owns 30,566 shares of the company's stock valued at $229,000 after buying an additional 2,190 shares in the last quarter. Institutional investors and hedge funds own 37.52% of the company's stock.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated coverage on LINKBANCORP in a report on Tuesday, April 1st. They issued an "outperform" rating and a $8.50 target price for the company.

LINKBANCORP Stock Down 0.4%

NASDAQ:LNKB traded down $0.03 during trading hours on Wednesday, reaching $6.83. The company had a trading volume of 30,358 shares, compared to its average volume of 62,488. LINKBANCORP has a twelve month low of $5.86 and a twelve month high of $7.98. 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 firm has a market cap of $255.34 million, a price-to-earnings ratio of 9.76 and a beta of 0.49. The business's 50-day simple moving average is $6.78 and its two-hundred day simple moving average is $7.14.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. The company had revenue of $39.09 million for the quarter, compared to analysts' expectations of $28.56 million. LINKBANCORP had a net margin of 15.64% and a return on equity of 9.89%. On average, equities analysts expect that LINKBANCORP will post 0.84 earnings per share for the current year.

LINKBANCORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.075 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.30 annualized dividend and a yield of 4.39%. LINKBANCORP's payout ratio is currently 31.25%.

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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