LINKBANCORP’s (LNKB) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of LINKBANCORP (NASDAQ:LNKB) in a report published on Thursday morning,Benzinga reports. The firm currently has a $9.00 price objective on the stock.

LINKBANCORP Stock Performance

LNKB opened at $7.07 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day simple moving average of $7.45 and a two-hundred day simple moving average of $6.94. LINKBANCORP has a 1-year low of $5.86 and a 1-year high of $7.98. The firm has a market cap of $264.21 million, a P/E ratio of 10.10 and a beta of 0.45.

LINKBANCORP (NASDAQ:LNKB) last issued its earnings results on Monday, January 27th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. LINKBANCORP had a net margin of 15.64% and a return on equity of 9.89%. Equities analysts forecast that LINKBANCORP will post 0.82 earnings per share for the current fiscal year.

LINKBANCORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.24%. LINKBANCORP’s dividend payout ratio is 42.86%.

Hedge Funds Weigh In On LINKBANCORP

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB boosted its position in shares of LINKBANCORP by 2,122.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,666 shares of the company’s stock worth $50,000 after acquiring an additional 6,366 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in LINKBANCORP during the second quarter valued at $65,000. Truist Financial Corp bought a new position in LINKBANCORP during the second quarter valued at $73,000. MetLife Investment Management LLC lifted its position in LINKBANCORP by 129.1% during the third quarter. MetLife Investment Management LLC now owns 14,038 shares of the company’s stock valued at $90,000 after purchasing an additional 7,910 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in LINKBANCORP during the fourth quarter valued at $150,000. Institutional investors own 37.52% of the company’s stock.

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.