LINKBANCORP, Inc. (LNKB) To Go Ex-Dividend on November 17th

LINKBANCORP, Inc. (NASDAQ:LNKB) announced a quarterly dividend on Friday, November 10th, Wall Street Journal reports. Investors of record on Monday, November 20th will be given a dividend of 0.075 per share on Monday, November 27th. This represents a $0.30 annualized dividend and a yield of 5.06%. The ex-dividend date is Friday, November 17th.

LINKBANCORP has a payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Analysts expect LINKBANCORP to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 44.1%.

LINKBANCORP Stock Performance

NASDAQ LNKB opened at $5.93 on Wednesday. The stock has a market capitalization of $96.30 million, a price-to-earnings ratio of 53.91 and a beta of 0.45. The stock has a 50-day moving average of $6.54 and a 200 day moving average of $6.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.81. LINKBANCORP has a twelve month low of $4.80 and a twelve month high of $10.50.

Hedge Funds Weigh In On LINKBANCORP

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in LINKBANCORP by 126.1% in the 2nd quarter. State Street Corp now owns 114,875 shares of the company’s stock worth $689,000 after purchasing an additional 64,066 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of LINKBANCORP by 29.0% in the second quarter. Geode Capital Management LLC now owns 102,351 shares of the company’s stock valued at $614,000 after purchasing an additional 22,989 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of LINKBANCORP in the fourth quarter valued at approximately $582,000. Citadel Advisors LLC acquired a new position in LINKBANCORP during the third quarter worth $438,000. Finally, Commonwealth Equity Services LLC purchased a new stake in LINKBANCORP in the 3rd quarter valued at $187,000. 37.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Stephens upped their price objective on shares of LINKBANCORP from $6.50 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th.

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.