LINKBANCORP (NASDAQ:LNKB) Cut to Hold at Zacks Research

Zacks Research cut shares of LINKBANCORP (NASDAQ:LNKB) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the stock. Hovde Group lowered shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 target price for the company. in a research note on Friday, December 19th. Weiss Ratings upgraded shares of LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 20th. Finally, DA Davidson downgraded LINKBANCORP from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.63.

LINKBANCORP Trading Down 2.7%

LNKB opened at $9.15 on Monday. LINKBANCORP has a fifty-two week low of $6.09 and a fifty-two week high of $9.59. The firm has a market capitalization of $342.85 million, a PE ratio of 10.17 and a beta of 0.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50-day moving average is $8.66 and its 200 day moving average is $7.74.

LINKBANCORP (NASDAQ:LNKB) last issued its quarterly earnings data on Monday, January 26th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13). The company had revenue of $30.04 million for the quarter, compared to the consensus estimate of $30.03 million. LINKBANCORP had a return on equity of 8.85% and a net margin of 17.97%. As a group, research analysts predict that LINKBANCORP will post 0.84 earnings per share for the current fiscal year.

LINKBANCORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, February 27th. This represents a $0.30 annualized dividend and a dividend yield of 3.3%. LINKBANCORP’s dividend payout ratio is presently 33.33%.

Institutional Trading of LINKBANCORP

A number of institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new position in LINKBANCORP in the 2nd quarter worth approximately $35,000. Los Angeles Capital Management LLC purchased a new stake in LINKBANCORP during the 2nd quarter worth about $161,000. Geode Capital Management LLC boosted its stake in LINKBANCORP by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 587,084 shares of the company’s stock worth $4,293,000 after purchasing an additional 2,291 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of LINKBANCORP during the second quarter valued at about $37,000. Finally, Bernardo Wealth Planning LLC purchased a new stake in shares of LINKBANCORP in the second quarter worth about $200,000. 37.52% of the stock is currently owned by hedge funds and other institutional investors.

LINKBANCORP Company Profile

Link Bancorp, Inc is a bank holding company headquartered in Wheeling, West Virginia, serving as the parent of Link Bank. Established to support the growth of a regional financial institution, the company offers a broad range of banking and financial services through its subsidiary, Link Bank. With an emphasis on community banking, Link Bancorp focuses on building long-term relationships with individuals, businesses and nonprofit organizations across its footprint.

The company’s core activities include commercial and consumer lending, residential mortgage financing, deposit account services and treasury management solutions.