Geode Capital Management LLC Raises Position in LINKBANCORP, Inc. (NASDAQ:LNKB)

Geode Capital Management LLC grew its stake in shares of LINKBANCORP, Inc. (NASDAQ:LNKB - Free Report) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 562,775 shares of the company's stock after purchasing an additional 67,728 shares during the quarter. Geode Capital Management LLC owned approximately 1.51% of LINKBANCORP worth $3,608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fourthstone LLC increased its stake in shares of LINKBANCORP by 234.1% during the third quarter. Fourthstone LLC now owns 444,223 shares of the company's stock valued at $2,847,000 after buying an additional 311,271 shares during the period. Bank of New York Mellon Corp bought a new stake in LINKBANCORP in the second quarter valued at $397,000. Renaissance Technologies LLC purchased a new position in LINKBANCORP during the 2nd quarter valued at $151,000. Rhumbline Advisers bought a new position in LINKBANCORP in the 2nd quarter worth $137,000. Finally, State Street Corp lifted its position in shares of LINKBANCORP by 5.5% in the 3rd quarter. State Street Corp now owns 283,891 shares of the company's stock worth $1,820,000 after purchasing an additional 14,730 shares during the period. Institutional investors own 37.52% of the company's stock.

LINKBANCORP Trading Down 2.9 %

Shares of NASDAQ LNKB traded down $0.22 during midday trading on Tuesday, hitting $7.28. 39,412 shares of the company traded hands, compared to its average volume of 40,028. LINKBANCORP, Inc. has a 12-month low of $5.86 and a 12-month high of $8.12. The firm has a market cap of $272.05 million, a P/E ratio of -104.00 and a beta of 0.45. The stock has a 50-day moving average price of $7.46 and a 200 day moving average price of $6.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $27.66 million for the quarter, compared to analysts' expectations of $27.33 million. LINKBANCORP had a net margin of 3.65% and a return on equity of 7.86%. As a group, analysts expect that LINKBANCORP, Inc. will post 0.71 earnings per share for the current year.

LINKBANCORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Friday, November 29th. LINKBANCORP's dividend payout ratio is -428.57%.

LINKBANCORP 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.