Short Interest in LINKBANCORP, Inc. (NASDAQ:LNKB) Rises By 8.4%

LINKBANCORP, Inc. (NASDAQ:LNKB) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 455,700 shares, an increase of 8.4% from the July 31st total of 420,200 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 105,700 shares, the days-to-cover ratio is presently 4.3 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at LINKBANCORP

In other news, Director George Parmer purchased 5,000 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $6.78 per share, for a total transaction of $33,900.00. Following the acquisition, the director now directly owns 180,488 shares of the company’s stock, valued at approximately $1,223,708.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mona D. Albertine sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.51, for a total value of $65,100.00. Following the sale, the director now directly owns 45,294 shares in the company, valued at approximately $294,863.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George Parmer acquired 5,000 shares of LINKBANCORP stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $6.78 per share, for a total transaction of $33,900.00. Following the completion of the transaction, the director now directly owns 180,488 shares of the company’s stock, valued at $1,223,708.64. The disclosure for this purchase can be found here. Insiders bought a total of 41,131 shares of company stock valued at $262,132 in the last three months. 35.84% of the stock is owned by corporate insiders.

Institutional Trading of LINKBANCORP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new stake in shares of LINKBANCORP during the fourth quarter worth $39,000. The Manufacturers Life Insurance Company acquired a new position in LINKBANCORP during the second quarter valued at approximately $65,000. Truist Financial Corp acquired a new position in LINKBANCORP during the second quarter worth $73,000. Leo Wealth LLC bought a new stake in shares of LINKBANCORP in the 4th quarter valued at about $92,000. Finally, Rhumbline Advisers bought a new position in LINKBANCORP during the second quarter worth $137,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

LINKBANCORP Stock Performance

Shares of LNKB stock opened at $6.29 on Monday. LINKBANCORP has a fifty-two week low of $5.86 and a fifty-two week high of $8.29. The stock’s 50-day moving average is $6.58 and its two-hundred day moving average is $6.62. 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 firm has a market cap of $234.97 million, a P/E ratio of -24.19 and a beta of 0.51.

LINKBANCORP (NASDAQ:LNKB) last announced its earnings results on Monday, July 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $26.34 million during the quarter, compared to the consensus estimate of $27.17 million. LINKBANCORP had a positive return on equity of 6.71% and a negative net margin of 0.34%. Analysts predict that LINKBANCORP will post 0.73 earnings per share for the current fiscal year.

LINKBANCORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, August 30th. LINKBANCORP’s dividend payout ratio is currently -115.38%.

LINKBANCORP Company Profile

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.