LNKB

LINKBANCORP's Sale of New Jersey Operations: LINKBANCORP, Inc. has sold its banking operations and three branches in New Jersey to American Heritage Federal Credit Union for approximately $87 million in deposits and $105 million in loans, resulting in an estimated after-tax gain of $8.5 million.

Strategic Focus on Core Markets: The CEO, Andrew Samuel, stated that this sale allows the company to reallocate capital towards its core markets in Pennsylvania, Maryland, and Virginia, enhancing operational efficiencies as it aims to strengthen its position as a community bank in the Mid-Atlantic region.

LINKBANCORP Sale Announcement: LINKBANCORP, Inc. has received all regulatory approvals to sell its New Jersey operations to American Heritage Federal Credit Union, with the transaction expected to close on March 31, 2025.

Company Overview: LINKBANCORP, formed in 2018, operates LINKBANK and provides community banking services across several states, including Pennsylvania and New Jersey, while its common stock is traded on the Nasdaq under the symbol "LNKB".

Analyst Rating and Price Target: Piper Sandler analyst Justin Crowley has maintained a Hold rating on LINKBANCORP (LNKB) with a price target of $8.00, while the shares closed at $7.07 last Friday.

Performance Metrics: Crowley, a 5-star analyst with an 88.24% success rate, reports that LINKBANCORP has a Moderate Buy consensus among analysts, a market cap of $264.2M, and a P/E ratio of 10.01.

Dividend Declaration: LINKBANCORP has announced a quarterly dividend of $0.075 per share, consistent with previous dividends, resulting in a forward yield of 4.23%.

Payment Details: The dividend will be payable on March 14 to shareholders recorded by February 28, with the ex-dividend date also set for February 28.

Dividend Announcement: LINKBANCORP, Inc. will pay a dividend of $0.075 per share on December 16, yielding 4.2%, but concerns exist regarding the sustainability of these payments due to a short dividend history and recent earnings reports indicating over-distribution.

Earnings and Growth Outlook: While LINKBANCORP's earnings per share (EPS) have declined significantly in the past five years, analysts predict a 175.1% growth in EPS over the next three years, suggesting potential for future dividend stability, though caution is advised given the company's capital-raising activities.

Earnings Performance: CrossFirst Bankshares reported quarterly earnings of $0.43 per share, exceeding estimates and showing a year-over-year increase from $0.37, while revenues also surpassed expectations at $67.13 million.

Market Outlook: Despite the positive earnings report, CrossFirst's stock has underperformed compared to the S&P 500 this year, with a current Zacks Rank of #3 (Hold), indicating expected performance in line with the market moving forward.

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Earnings Performance: LINKBANCORP, Inc. reported quarterly earnings of $0.17 per share, missing estimates and showing a year-over-year increase from $0.10. The company also posted revenues of $26.34 million, falling short of expectations by 3.05%.

Market Outlook: Despite underperforming the market with a 7.3% decline this year, LINKBANCORP holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market. Future stock movements will depend on management's commentary and changes in earnings estimate revisions.

Linkbancorp Q2 2024 Earnings Report: Linkbancorp reported earnings per share of 17 cents, falling short of the analyst estimate of 18 cents, and revenue of $26.34 million, which was 5.21% below the expected $27.79 million.

InvestorPlace Earnings Automation: InvestorPlace Earnings utilizes automated data from TradeSmith to provide timely coverage of quarterly earnings reports, highlighting key financial metrics and comparisons to analyst estimates without human intervention.

Earnings Report: Meridian Bank reported quarterly earnings of $0.30 per share, missing estimates and down from $0.41 a year ago, while revenues slightly surpassed expectations at $26.09 million.

Future Outlook: The stock has underperformed this year with a Zacks Rank #3 (Hold), indicating it is expected to perform in line with the market; upcoming earnings estimates show mixed revisions for the next quarters.

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• Linkbancorp reported earnings per share of 16 cents, missing the analyst estimate of 18 cents.
• The company's revenue for the first quarter was $26.61 million, which fell short of the analyst estimate of $27.26 million by 2.37%.
• InvestorPlace Earnings project uses TradeSmith data to automate coverage of quarterly earnings reports, providing key takeaways like EPS and revenue comparisons with analyst estimates.
• Articles are published without human intervention to quickly inform readers of the latest figures.
• For concerns or inaccuracies, readers can contact editor@investorplace.com.

Earnings Report for LINKBANCORP, Inc.:

• Quarterly earnings of $0.16 per share missed the Zacks Consensus Estimate of $0.19 per share.
• Represents an earnings surprise of -15.79% compared to a year ago.
• Company has surpassed consensus EPS estimates two times in the last four quarters.
• Revenues of $26.61 million for March 2024 missed estimates by 2.12%.
• Stock's performance depends on future earnings and management commentary.

Outlook for LINKBANCORP, Inc.:

• Shares have lost 15.9% this year compared to S&P 500's gain of 6.9%.
• Current Zacks Rank #1 (Strong Buy) suggests expected outperformance.
• Estimates for upcoming quarters show favorable trends.
• Industry outlook can impact stock performance significantly.

Camden National Corporation Earnings:

• Camden National (CAC) is yet to report results for March 2024.
• Expected quarterly earnings of $0.72 per share, down 17.2% year-over-year.
• Revenues expected to be $41.72 million, down 5.5% from the previous year.

Eastern Bankshares Quarterly Earnings:

• Reported earnings of $0.23 per share, beating estimates and showing a 15% surprise.
• Belongs to Zacks Banks - Northeast industry, with revenues exceeding expectations.
• Stock's performance depends on future earnings outlook and management commentary.
• Estimate revisions trend for Eastern Bankshares is unfavorable, translating to a Zacks Rank #4 (Sell).
• Current consensus EPS estimate for the coming quarter is $0.27.

What's Next for Eastern Bankshares?:

• Shares have underperformed but future stock performance remains uncertain.
• Investors should consider earnings outlook and estimate revisions for insights.
• Industry outlook can impact stock performance; Banks - Northeast currently ranks low.
• LINKBANCORP, Inc. in the same industry is expected to report strong quarterly earnings.

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