Truist Financial Corp Trims Stake in LINKBANCORP, Inc. $LNKB

Truist Financial Corp lowered its position in LINKBANCORP, Inc. (NASDAQ:LNKB) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,872 shares of the company’s stock after selling 3,367 shares during the period. Truist Financial Corp owned about 0.06% of LINKBANCORP worth $153,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. FJ Capital Management LLC lifted its holdings in shares of LINKBANCORP by 5.3% in the 1st quarter. FJ Capital Management LLC now owns 3,728,660 shares of the company’s stock valued at $25,280,000 after acquiring an additional 188,722 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of LINKBANCORP during the first quarter valued at approximately $811,000. Nuveen LLC acquired a new stake in LINKBANCORP in the first quarter valued at approximately $194,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in LINKBANCORP by 12.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 64,967 shares of the company’s stock valued at $440,000 after acquiring an additional 6,998 shares in the last quarter. 37.52% of the stock is owned by institutional investors.

LINKBANCORP Stock Down 0.1%

LNKB stock opened at $6.93 on Friday. The stock has a market capitalization of $259.53 million, a P/E ratio of 6.93 and a beta of 0.46. The firm has a 50-day simple moving average of $7.19 and a 200-day simple moving average of $7.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. LINKBANCORP, Inc. has a 52 week low of $6.09 and a 52 week high of $7.98.

LINKBANCORP (NASDAQ:LNKB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $8.47 million during the quarter. LINKBANCORP had a net margin of 20.62% and a return on equity of 10.32%. Equities analysts forecast that LINKBANCORP, Inc. will post 0.84 earnings per share for the current fiscal year.

LINKBANCORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.3%. LINKBANCORP’s dividend payout ratio is currently 30.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of LINKBANCORP in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, LINKBANCORP has an average rating of “Moderate Buy” and an average target price of $8.75.

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.