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

LINKBANCORP (NASDAQ:LNKB) posted its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 LNKB remained flat at $8.60 during mid-day trading on Monday. 77,402 shares of the stock traded hands, compared to its average volume of 234,375. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 0.98. LINKBANCORP has a 12 month low of $6.09 and a 12 month high of $9.04. The stock has a 50 day moving average of $8.13 and a 200-day moving average of $7.52. The stock has a market capitalization of $322.12 million, a price-to-earnings ratio of 8.43 and a beta of 0.40.

Hedge Funds Weigh In On LINKBANCORP

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

Analyst Ratings Changes

LNKB has been the topic of several research reports. Weiss Ratings upgraded shares of LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 20th. Hovde Group lowered shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 price target on the stock. in a research note on Friday, December 19th. Zacks Research raised shares of LINKBANCORP from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, DA Davidson cut LINKBANCORP from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.