LINKBANCORP (NASDAQ:LNKB) Given Buy Rating at DA Davidson

DA Davidson reiterated their buy rating on shares of LINKBANCORP (NASDAQ:LNKB - Free Report) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $9.00 price objective on the stock.

LINKBANCORP Trading Up 0.4 %

LNKB traded up $0.03 during mid-day trading on Thursday, hitting $7.10. 37,852 shares of the stock were exchanged, compared to its average volume of 36,707. The firm's fifty day moving average is $7.45 and its two-hundred day moving average is $6.93. LINKBANCORP has a 1-year low of $5.86 and a 1-year high of $7.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $265.33 million, a PE ratio of 10.14 and a beta of 0.44.

LINKBANCORP (NASDAQ:LNKB - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.21 earnings per share for the quarter, topping 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%. Equities analysts forecast that LINKBANCORP will post 0.82 earnings per share for the current fiscal year.

LINKBANCORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, February 28th. This represents a $0.30 annualized dividend and a yield of 4.23%. LINKBANCORP's dividend payout ratio (DPR) is 42.86%.

Institutional Investors Weigh In On LINKBANCORP

Several large investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC increased its holdings in LINKBANCORP by 22.2% during the 4th quarter. DAVENPORT & Co LLC now owns 28,109 shares of the company's stock worth $210,000 after purchasing an additional 5,109 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in shares of LINKBANCORP by 2,122.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,666 shares of the company's stock valued at $50,000 after acquiring an additional 6,366 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of LINKBANCORP by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 14,038 shares of the company's stock valued at $90,000 after acquiring an additional 7,910 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of LINKBANCORP in the 2nd quarter valued at about $65,000. Finally, Truist Financial Corp purchased a new position in shares of LINKBANCORP in the 2nd quarter valued at about $73,000. Hedge funds and other institutional investors own 37.52% of the company's stock.

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.