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

LINKBANCORP, Inc. (NASDAQ:LNKB - Get Free Report) saw 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 sold short. Based on an average trading volume of 42,200 shares, the days-to-cover ratio is presently 6.1 days.

Institutional Investors Weigh In On LINKBANCORP

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in LINKBANCORP in the 4th quarter valued at approximately $351,000. Deutsche Bank AG lifted its position in shares of LINKBANCORP by 7.7% during the 4th quarter. Deutsche Bank AG now owns 30,566 shares of the company's stock worth $229,000 after buying an additional 2,190 shares during the period. Enhancing Capital LLC bought a new position in LINKBANCORP in the 4th quarter valued at $876,000. JPMorgan Chase & Co. raised its position in LINKBANCORP by 145.8% in the 4th quarter. JPMorgan Chase & Co. now owns 73,217 shares of the company's stock valued at $548,000 after purchasing an additional 43,429 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in LINKBANCORP by 30.6% in the 4th quarter. Bank of New York Mellon Corp now owns 67,644 shares of the company's stock valued at $506,000 after purchasing an additional 15,852 shares during the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on LINKBANCORP in a research note on Tuesday, April 1st. They set an "outperform" rating and a $8.50 price target for the company.

LINKBANCORP Stock Up 3.8%

NASDAQ LNKB traded up $0.26 on Friday, hitting $7.09. 50,649 shares of the stock traded hands, compared to its average volume of 62,386. The stock has a 50-day moving average of $6.79 and a 200 day moving average of $7.14. LINKBANCORP has a twelve month low of $5.86 and a twelve month high of $7.98. The company has a market capitalization of $265.06 million, a P/E ratio of 10.13 and a beta of 0.45. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $39.09 million for the quarter, compared to analysts' expectations of $28.56 million. LINKBANCORP had a return on equity of 9.89% and a net margin of 15.64%. As a group, analysts expect that LINKBANCORP will post 0.84 earnings per share for the current fiscal year.

LINKBANCORP Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Friday, May 30th. LINKBANCORP's payout ratio is 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.