Zacks: Limestone Bancorp Inc (NASDAQ:LMST) Given Average Recommendation of “Hold” by Analysts

Limestone Bancorp Inc (NASDAQ:LMST) has been assigned an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the company. Limestone Bancorp’s rating score has declined by 66.7% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokers have set a 12-month consensus price objective of $17.13 for the company and are forecasting that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also given Limestone Bancorp an industry rank of 145 out of 255 based on the ratings given to related companies.

Several research analysts have weighed in on LMST shares. Raymond James started coverage on Limestone Bancorp in a research report on Thursday, August 15th. They issued an “outperform” rating and a $18.00 target price on the stock. Zacks Investment Research lowered Limestone Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 30th. ValuEngine lowered Limestone Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, Janney Montgomery Scott downgraded Limestone Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 21st.

In other news, major shareholder Jack Chester Jr. Porter sold 1,700 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.50, for a total transaction of $26,350.00. Also, major shareholder Jennifer Elizabeth Porter sold 28,300 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $15.42, for a total value of $436,386.00. In the last quarter, insiders have sold 30,750 shares of company stock valued at $473,986. 17.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMST. Eidelman Virant Capital boosted its stake in shares of Limestone Bancorp by 7.2% during the 2nd quarter. Eidelman Virant Capital now owns 142,132 shares of the company’s stock worth $2,167,000 after acquiring an additional 9,503 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Limestone Bancorp by 97.0% during the 2nd quarter. Acadian Asset Management LLC now owns 6,235 shares of the company’s stock worth $95,000 after acquiring an additional 3,070 shares in the last quarter. Context BH Capital Management LP boosted its stake in Limestone Bancorp by 51.2% during the 2nd quarter. Context BH Capital Management LP now owns 22,959 shares of the company’s stock valued at $350,000 after purchasing an additional 7,774 shares during the period. BlackRock Inc. boosted its stake in Limestone Bancorp by 14.3% during the 2nd quarter. BlackRock Inc. now owns 13,325 shares of the company’s stock valued at $203,000 after purchasing an additional 1,665 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Limestone Bancorp by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 77,016 shares of the company’s stock valued at $1,175,000 after purchasing an additional 4,756 shares during the period. Institutional investors own 27.96% of the company’s stock.

Shares of Limestone Bancorp stock traded down $0.10 on Tuesday, reaching $14.95. 8,200 shares of the company were exchanged, compared to its average volume of 2,937. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.79. Limestone Bancorp has a fifty-two week low of $12.50 and a fifty-two week high of $15.95. The stock has a fifty day moving average price of $15.22 and a 200-day moving average price of $15.13. The firm has a market capitalization of $94.08 million, a price-to-earnings ratio of 12.15 and a beta of 0.29.

Limestone Bancorp (NASDAQ:LMST) last issued its earnings results on Wednesday, October 23rd. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). Limestone Bancorp had a return on equity of 11.01% and a net margin of 20.45%. The firm had revenue of $10.26 million during the quarter, compared to analyst estimates of $10.56 million. On average, equities analysts anticipate that Limestone Bancorp will post 1.28 earnings per share for the current fiscal year.

Limestone Bancorp Company Profile

Limestone Bancorp, Inc operates as the bank holding company for Limestone Bank, Inc that provides a range of commercial and personal banking products and services. The company offers deposit products, including checking, savings, and term certificate accounts, as well as money market accounts and fixed rate certificates.

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