LINKBANCORP (NASDAQ:LNKB) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

LINKBANCORP (NASDAQ:LNKB) posted its quarterly earnings data on Monday. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.13), Zacks reports. LINKBANCORP had a return on equity of 10.28% and a net margin of 20.81%.

LINKBANCORP Price Performance

Shares of NASDAQ LNKB remained flat at $8.60 during trading hours on Monday. The company had a trading volume of 77,402 shares, compared to its average volume of 234,375. The company has a market capitalization of $322.12 million, a P/E ratio of 8.43 and a beta of 0.40. LINKBANCORP has a twelve month low of $6.09 and a twelve month high of $9.04. The stock has a fifty day moving average price of $8.13 and a two-hundred day moving average price of $7.52. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

Hedge Funds Weigh In On LINKBANCORP

A number of hedge funds have recently made changes to their positions in LNKB. Geode Capital Management LLC grew its stake in LINKBANCORP by 0.4% during the second quarter. Geode Capital Management LLC now owns 587,084 shares of the company’s stock worth $4,293,000 after buying an additional 2,291 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of LINKBANCORP by 28.6% in the 2nd quarter. Invesco Ltd. now owns 12,985 shares of the company’s stock worth $95,000 after acquiring an additional 2,887 shares in the last quarter. Sei Investments Co. bought a new stake in LINKBANCORP during the 2nd quarter worth approximately $74,000. Alliancebernstein L.P. grew its position in LINKBANCORP by 0.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,992,525 shares of the company’s stock worth $14,565,000 after acquiring an additional 17,400 shares during the last quarter. Finally, Mendon Capital Advisors Corp increased its holdings in LINKBANCORP by 10.1% during the 2nd quarter. Mendon Capital Advisors Corp now owns 100,000 shares of the company’s stock valued at $731,000 after purchasing an additional 9,143 shares in the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on LNKB shares. DA Davidson lowered LINKBANCORP from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Zacks Research upgraded shares of LINKBANCORP from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Hovde Group downgraded shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 price target for the company. in a report on Friday, December 19th. Finally, Weiss Ratings upgraded shares of LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.63.

About LINKBANCORP

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.