Mendon Capital Advisors Corp Lowers Position in LINKBANCORP, Inc. (NASDAQ:LNKB)

Mendon Capital Advisors Corp decreased its stake in LINKBANCORP, Inc. (NASDAQ:LNKB) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,024 shares of the company’s stock after selling 15,725 shares during the quarter. Mendon Capital Advisors Corp owned approximately 0.20% of LINKBANCORP worth $453,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LNKB. The Manufacturers Life Insurance Company bought a new position in shares of LINKBANCORP during the 2nd quarter valued at approximately $65,000. Leo Wealth LLC purchased a new position in LINKBANCORP during the fourth quarter valued at approximately $92,000. Truist Financial Corp bought a new position in shares of LINKBANCORP in the second quarter worth approximately $73,000. Rhumbline Advisers purchased a new stake in shares of LINKBANCORP in the second quarter worth $137,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of LINKBANCORP in the first quarter worth $164,000. Institutional investors own 37.52% of the company’s stock.

LINKBANCORP Stock Down 1.6 %

LNKB opened at $6.31 on Wednesday. The stock has a market cap of $235.72 million, a price-to-earnings ratio of -24.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day moving average is $6.48 and its 200 day moving average is $6.52. LINKBANCORP, Inc. has a fifty-two week low of $5.86 and a fifty-two week high of $8.29.

LINKBANCORP (NASDAQ:LNKB) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). LINKBANCORP had a negative net margin of 0.34% and a positive return on equity of 6.71%. The business had revenue of $26.34 million during the quarter, compared to analysts’ expectations of $27.17 million. On average, sell-side analysts forecast that LINKBANCORP, Inc. will post 0.7 earnings per share for the current fiscal year.

LINKBANCORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, August 30th. LINKBANCORP’s dividend payout ratio (DPR) is currently -115.38%.

Insider Buying and Selling at LINKBANCORP

In other news, Director Mona D. Albertine sold 4,741 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $29,441.61. Following the transaction, the director now owns 36,353 shares of the company’s stock, valued at $225,752.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Catherine Eisel purchased 23,643 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $6.23 per share, with a total value of $147,295.89. Following the completion of the purchase, the insider now owns 23,643 shares in the company, valued at $147,295.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mona D. Albertine sold 4,741 shares of LINKBANCORP stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $29,441.61. Following the completion of the sale, the director now directly owns 36,353 shares in the company, valued at approximately $225,752.13. The disclosure for this sale can be found here. In the last three months, insiders purchased 43,223 shares of company stock valued at $273,083 and sold 16,741 shares valued at $107,022. Insiders own 35.84% of the company’s stock.

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.