LINKBANCORP, Inc. (NASDAQ:LNKB) Sees Significant Decline in Short Interest

LINKBANCORP, Inc. (NASDAQ:LNKB) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totaling 348,137 shares, a decrease of 15.0% from the March 31st total of 409,533 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 65,983 shares, the days-to-cover ratio is presently 5.3 days.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research downgraded LINKBANCORP from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings upgraded LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.63.

Institutional Investors Weigh In On LINKBANCORP

A number of institutional investors have recently modified their holdings of the stock. World Investment Advisors purchased a new stake in shares of LINKBANCORP in the fourth quarter worth $122,000. Invesco Ltd. grew its stake in shares of LINKBANCORP by 11.9% in the fourth quarter. Invesco Ltd. now owns 15,242 shares of the company’s stock worth $126,000 after acquiring an additional 1,626 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of LINKBANCORP in the fourth quarter worth $177,000. Millennium Management LLC grew its stake in shares of LINKBANCORP by 120.7% in the fourth quarter. Millennium Management LLC now owns 67,798 shares of the company’s stock worth $560,000 after acquiring an additional 37,083 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of LINKBANCORP by 92.6% in the fourth quarter. AQR Capital Management LLC now owns 87,009 shares of the company’s stock worth $719,000 after acquiring an additional 41,822 shares during the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

LINKBANCORP Price Performance

LNKB opened at $8.69 on Friday. The stock has a fifty day simple moving average of $8.58 and a two-hundred day simple moving average of $8.25. 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 company has a market cap of $325.61 million, a price-to-earnings ratio of 9.66 and a beta of 0.42. LINKBANCORP has a 12-month low of $6.55 and a 12-month high of $9.59.

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.