Tiger Brokers

BUZZ-Linkbancorp rises after Hovde Group starts coverage with 'outperform' rating

Reuters
Apr 02
BUZZ-Linkbancorp rises after Hovde Group starts coverage with 'outperform' rating

** Community lender Linkbancorp's LNKB.O shares rise 1.9% to $6.91

** Hovde Group initiates coverage with an "outperform" rating and $8.50 PT, a 25.4% upside to stock's last close

** Brokerage says LNKB's core markets remain healthy for share grab from larger super-regional banks over the foreseeable future

** Adds that one of the hallmarks of the LNKB story is the branch-lite strategy that differentiates the financial institution from its peers

** LNKB has expanded materially since inception in 2018 through series of acquisitions and tie-ups creating an "enviable Mid-Atlantic franchise" - brokerage

** 2 of 4 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $8.25 - data compiled by LSEG

** As of last close, LNKB stock down 9.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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