Short Interest in LINKBANCORP, Inc. (NASDAQ:LNKB) Decreases By 29.7%

LINKBANCORP, Inc. (NASDAQ:LNKB) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 25,300 shares, a decrease of 29.7% from the May 31st total of 36,000 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 33,900 shares, the short-interest ratio is presently 0.7 days.

LINKBANCORP Stock Up 2.0 %

Shares of NASDAQ LNKB traded up $0.12 during trading on Friday, hitting $6.12. The stock had a trading volume of 2,729,399 shares, compared to its average volume of 55,647. The firm has a fifty day moving average of $6.40 and a two-hundred day moving average of $6.90. The company has a market capitalization of $228.64 million, a PE ratio of -23.54 and a beta of 0.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01. LINKBANCORP has a 12 month low of $5.65 and a 12 month high of $8.29.

LINKBANCORP (NASDAQ:LNKB) last released its quarterly earnings results on Monday, April 29th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $27.19 million. LINKBANCORP had a positive return on equity of 5.47% and a negative net margin of 5.10%. As a group, equities research analysts forecast that LINKBANCORP will post 0.75 EPS for the current fiscal year.

LINKBANCORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, May 31st. LINKBANCORP’s dividend payout ratio is presently -115.38%.

Analysts Set New Price Targets

Separately, Stephens reaffirmed an “equal weight” rating and set a $7.50 target price on shares of LINKBANCORP in a research report on Monday, May 13th.

Insiders Place Their Bets

In related news, Director George Parmer purchased 5,124 shares of LINKBANCORP stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $6.21 per share, for a total transaction of $31,820.04. Following the completion of the acquisition, the director now owns 175,488 shares of the company’s stock, valued at approximately $1,089,780.48. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mona D. Albertine sold 9,062 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $6.52, for a total value of $59,084.24. Following the transaction, the director now directly owns 56,232 shares in the company, valued at approximately $366,632.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George Parmer purchased 5,124 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were acquired at an average price of $6.21 per share, with a total value of $31,820.04. Following the purchase, the director now directly owns 175,488 shares in the company, valued at approximately $1,089,780.48. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 27,551 shares of company stock worth $174,710. Corporate insiders own 35.84% of the company’s stock.

Institutional Trading of LINKBANCORP

A number of hedge funds have recently bought and sold shares of the business. Fidelity D & D Bancorp Inc. purchased a new stake in shares of LINKBANCORP during the 3rd quarter valued at $289,000. Lowe Wealth Advisors LLC purchased a new stake in LINKBANCORP during the fourth quarter worth about $157,000. DAVENPORT & Co LLC bought a new stake in LINKBANCORP in the fourth quarter worth about $183,000. Sandy Spring Bank purchased a new position in LINKBANCORP in the fourth quarter valued at about $37,000. Finally, Cora Capital Advisors LLC bought a new position in shares of LINKBANCORP during the 4th quarter valued at approximately $118,000. 37.52% of the stock is currently owned by 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.