LINKBANCORP (NASDAQ:LNKB) Downgraded to Hold Rating by Zacks Research

LINKBANCORP (NASDAQ:LNKB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Weiss Ratings raised 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 objective for the company. in a research report on Friday, December 19th. Finally, DA Davidson downgraded shares of LINKBANCORP from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.63.

LINKBANCORP Trading Up 2.0%

Shares of LNKB stock opened at $9.40 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $352.22 million, a price-to-earnings ratio of 10.44 and a beta of 0.40. LINKBANCORP has a 12-month low of $6.09 and a 12-month high of $9.49. The stock’s 50-day moving average price is $8.63 and its 200-day moving average price is $7.73.

LINKBANCORP (NASDAQ:LNKB) last released its quarterly earnings results on Monday, January 26th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.13). The firm had revenue of $30.04 million for the quarter, compared to analysts’ expectations of $30.03 million. LINKBANCORP had a net margin of 17.97% and a return on equity of 8.85%. Equities research analysts predict that LINKBANCORP will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On LINKBANCORP

A number of large investors have recently made changes to their positions in LNKB. Alliancebernstein L.P. raised its position in LINKBANCORP by 0.9% in the 2nd 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. Fourthstone LLC grew its stake in shares of LINKBANCORP by 56.2% during the fourth quarter. Fourthstone LLC now owns 1,066,836 shares of the company’s stock valued at $8,812,000 after buying an additional 384,013 shares during the last quarter. Algebris UK Ltd. purchased a new stake in shares of LINKBANCORP in the fourth quarter worth approximately $7,374,000. Geode Capital Management LLC raised its holdings in shares of LINKBANCORP by 0.4% in 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 period. Finally, State Street Corp lifted its stake in shares of LINKBANCORP by 6.5% during the 4th quarter. State Street Corp now owns 357,413 shares of the company’s stock worth $2,952,000 after acquiring an additional 21,905 shares during the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

LINKBANCORP Company Profile

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.