Zacks Research Downgrades LINKBANCORP (NASDAQ:LNKB) to Hold

LINKBANCORP (NASDAQ:LNKB) was downgraded by equities research analysts 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 firms have also recently commented on LNKB. Weiss Ratings upgraded LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 20th. DA Davidson lowered shares of LINKBANCORP from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Hovde Group lowered shares of LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 price objective on the stock. in a report on Friday, December 19th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.63.

LINKBANCORP Trading Up 2.0%

Shares of NASDAQ:LNKB opened at $9.40 on Monday. The stock has a 50 day moving average of $8.63 and a 200 day moving average of $7.73. The company has a market cap of $352.22 million, a PE 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 company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

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

Institutional Trading of LINKBANCORP

A number of institutional investors have recently bought and sold shares of LNKB. Bernardo Wealth Planning LLC bought a new stake in LINKBANCORP in the 2nd quarter worth about $200,000. Fourthstone LLC increased its position in shares of LINKBANCORP by 162.3% during the second quarter. Fourthstone LLC now owns 327,439 shares of the company’s stock valued at $2,394,000 after acquiring an additional 202,598 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in LINKBANCORP during the second quarter worth $161,000. Police & Firemen s Retirement System of New Jersey purchased a new position in LINKBANCORP in the second quarter worth $37,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of LINKBANCORP during the 2nd quarter valued at $35,000. 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.