George Parmer Acquires 2,076 Shares of LINKBANCORP, Inc. (NASDAQ:LNKB) Stock

LINKBANCORP, Inc. (NASDAQ:LNKB) Director George Parmer acquired 2,076 shares of the stock in a transaction dated Tuesday, May 27th. The shares were bought at an average price of $6.73 per share, for a total transaction of $13,971.48. Following the transaction, the director now owns 195,664 shares in the company, valued at approximately $1,316,818.72. This represents a 1.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

George Parmer also recently made the following trade(s):

• On Friday, May 23rd, George Parmer acquired 200 shares of LINKBANCORP stock. The shares were bought at an average price of $6.73 per share, for a total transaction of $1,346.00.
• On Tuesday, May 6th, George Parmer acquired 1,900 shares of LINKBANCORP stock. The shares were bought at an average price of $6.75 per share, for a total transaction of $12,825.00.

LINKBANCORP Price Performance

Shares of NASDAQ:LNKB opened at $6.80 on Friday. The stock has a market cap of $254.22 million, a PE ratio of 9.71 and a beta of 0.49. The company’s fifty day moving average is $6.79 and its 200 day moving average is $7.15. LINKBANCORP, Inc. has a 52 week low of $5.86 and a 52 week high of $7.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

LINKBANCORP (NASDAQ:LNKB) last issued its earnings results on Monday, April 28th. The company reported $0.20 EPS for the quarter, hitting analysts’ consensus estimates of $0.20. The company had revenue of $39.09 million for the quarter, compared to analysts’ expectations of $28.56 million. LINKBANCORP had a net margin of 15.64% and a return on equity of 9.89%. Research analysts anticipate that LINKBANCORP, Inc. will post 0.84 earnings per share for the current year.

LINKBANCORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Friday, May 30th. LINKBANCORP’s payout ratio is 31.25%.

Hedge Funds Weigh In On LINKBANCORP

A number of hedge funds have recently modified their holdings of LNKB. FJ Capital Management LLC boosted its stake in shares of LINKBANCORP by 5.3% during the 1st quarter. FJ Capital Management LLC now owns 3,728,660 shares of the company’s stock valued at $25,280,000 after purchasing an additional 188,722 shares in the last quarter. Nuveen LLC bought a new position in shares of LINKBANCORP in the first quarter worth approximately $194,000. Charles Schwab Investment Management Inc. lifted its stake in shares of LINKBANCORP by 12.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 64,967 shares of the company’s stock worth $440,000 after buying an additional 6,998 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of LINKBANCORP in the first quarter worth approximately $811,000. Finally, Deutsche Bank AG raised its holdings in shares of LINKBANCORP by 7.7% during the fourth quarter. Deutsche Bank AG now owns 30,566 shares of the company’s stock valued at $229,000 after purchasing an additional 2,190 shares during the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LNKB shares. Hovde Group started coverage on shares of LINKBANCORP in a research report on Tuesday, April 1st. They set an “outperform” rating and a $8.50 price objective on the stock. DA Davidson restated a “buy” rating and set a $9.00 price objective on shares of LINKBANCORP in a research report on Thursday, January 30th.

About LINKBANCORP

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.