LINKBANCORP (NASDAQ:LNKB) Cut to “Hold” at DA Davidson

LINKBANCORP (NASDAQ:LNKB) was downgraded by stock analysts at DA Davidson from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of LINKBANCORP in a report on Monday, December 15th. Hovde Group downgraded shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 target price on the stock. in a report on Friday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.63.

LINKBANCORP Price Performance

LNKB opened at $8.45 on Monday. The company has a fifty day moving average price of $7.50 and a two-hundred day moving average price of $7.30. The firm has a market capitalization of $316.54 million, a PE ratio of 8.28 and a beta of 0.43. LINKBANCORP has a 52 week low of $6.09 and a 52 week high of $9.04. 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 (NASDAQ:LNKB) last announced its quarterly earnings data on Monday, October 27th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $29.19 million during the quarter, compared to analysts’ expectations of $29.39 million. LINKBANCORP had a return on equity of 10.28% and a net margin of 20.81%. As a group, analysts anticipate that LINKBANCORP will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On LINKBANCORP

Institutional investors have recently bought and sold shares of the company. Bernardo Wealth Planning LLC bought a new position in shares of LINKBANCORP during the 2nd quarter worth approximately $200,000. FJ Capital Management LLC boosted its holdings in LINKBANCORP by 5.3% during the first quarter. FJ Capital Management LLC now owns 3,728,660 shares of the company’s stock worth $25,280,000 after purchasing an additional 188,722 shares during the last quarter. Fourthstone LLC boosted its holdings in LINKBANCORP by 162.3% during the second quarter. Fourthstone LLC now owns 327,439 shares of the company’s stock worth $2,394,000 after purchasing an additional 202,598 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in LINKBANCORP by 12.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 64,967 shares of the company’s stock valued at $440,000 after purchasing an additional 6,998 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in LINKBANCORP in the 1st quarter valued at $194,000. Institutional investors own 37.52% of the company’s stock.

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.