LINKBANCORP (NASDAQ:LNKB) Trading Down 2.2% – Here’s What Happened

LINKBANCORP, Inc. (NASDAQ:LNKB)’s stock price was down 2.2% on Monday . The company traded as low as $7.20 and last traded at $7.24. Approximately 21,892 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 36,798 shares. The stock had previously closed at $7.40.

LINKBANCORP Trading Down 2.2%

The business’s 50-day moving average is $7.20 and its two-hundred day moving average is $7.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $271.14 million, a PE ratio of 7.24 and a beta of 0.47.

LINKBANCORP (NASDAQ:LNKB) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. LINKBANCORP had a net margin of 20.62% and a return on equity of 10.32%. The firm had revenue of $27.88 million for the quarter, compared to analyst estimates of $28.88 million. As a group, equities research analysts anticipate that LINKBANCORP, Inc. will post 0.84 earnings per share for the current year.

LINKBANCORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, August 29th. LINKBANCORP’s dividend payout ratio (DPR) is 30.00%.

Hedge Funds Weigh In On LINKBANCORP

A number of hedge funds and other institutional investors have recently bought and sold shares of LNKB. FJ Capital Management LLC grew its position in LINKBANCORP by 22.0% in the 4th quarter. FJ Capital Management LLC now owns 3,539,938 shares of the company’s stock valued at $26,479,000 after buying an additional 637,649 shares during the last quarter. Fourthstone LLC grew its position in LINKBANCORP by 162.3% in the 2nd quarter. Fourthstone LLC now owns 327,439 shares of the company’s stock valued at $2,394,000 after buying an additional 202,598 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in LINKBANCORP in the first quarter valued at $811,000. BNP Paribas Financial Markets acquired a new stake in LINKBANCORP in the fourth quarter valued at $351,000. Finally, JPMorgan Chase & Co. lifted its holdings in LINKBANCORP by 145.8% in the fourth quarter. JPMorgan Chase & Co. now owns 73,217 shares of the company’s stock valued at $548,000 after acquiring an additional 43,429 shares during the period. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

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.