LINKBANCORP (NASDAQ:LNKB) Coverage Initiated at Hovde Group

Equities researchers at Hovde Group assumed coverage on shares of LINKBANCORP (NASDAQ:LNKB) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $8.50 price target on the stock. Hovde Group’s price objective would suggest a potential upside of 25.37% from the company’s current price.

Separately, DA Davidson reiterated a “buy” rating and issued a $9.00 target price on shares of LINKBANCORP in a report on Thursday, January 30th.

LINKBANCORP Price Performance

LNKB stock opened at $6.78 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $7.11. The company has a market capitalization of $253.37 million, a P/E ratio of 9.69 and a beta of 0.37. LINKBANCORP has a 52-week low of $5.86 and a 52-week high of $7.98.

LINKBANCORP (NASDAQ:LNKB) last announced its earnings results on Monday, January 27th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. LINKBANCORP had a return on equity of 9.89% and a net margin of 15.64%. Research analysts expect that LINKBANCORP will post 0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On LINKBANCORP

Hedge funds have recently made changes to their positions in the business. FJ Capital Management LLC increased its holdings in LINKBANCORP by 22.0% during the fourth quarter. FJ Capital Management LLC now owns 3,539,938 shares of the company’s stock worth $26,479,000 after buying an additional 637,649 shares during the last quarter. Deutsche Bank AG grew 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 valued at $229,000 after acquiring an additional 2,190 shares during the period. Bank of America Corp DE increased its stake in shares of LINKBANCORP by 31.1% during the 4th quarter. Bank of America Corp DE now owns 22,444 shares of the company’s stock worth $168,000 after purchasing an additional 5,322 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of LINKBANCORP in the 4th quarter worth approximately $351,000. Finally, Northern Trust Corp lifted its stake in LINKBANCORP by 10.0% in the fourth quarter. Northern Trust Corp now owns 205,770 shares of the company’s stock valued at $1,539,000 after purchasing an additional 18,707 shares during the last quarter. 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.