Limestone Bancorp Inc (NASDAQ:LMST) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,700 shares, an increase of 92.9% from the July 31st total of 1,400 shares. Based on an average daily trading volume, of 3,300 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.1% of the company’s stock are sold short.
Hedge funds have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC purchased a new stake in shares of Limestone Bancorp during the first quarter valued at about $33,000. Acadian Asset Management LLC lifted its position in shares of Limestone Bancorp by 97.0% during the second quarter. Acadian Asset Management LLC now owns 6,235 shares of the company’s stock valued at $95,000 after buying an additional 3,070 shares during the last quarter. BlackRock Inc. raised its position in shares of Limestone Bancorp by 14.3% in 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 last quarter. Context BH Capital Management LP purchased a new position in shares of Limestone Bancorp in the 1st quarter valued at approximately $227,000. Finally, Susquehanna International Group LLP raised its position in shares of Limestone Bancorp by 31.1% in the 2nd quarter. Susquehanna International Group LLP now owns 20,905 shares of the company’s stock valued at $319,000 after purchasing an additional 4,965 shares during the last quarter. 28.60% of the stock is owned by institutional investors and hedge funds.
Shares of LMST stock traded up $0.38 during mid-day trading on Friday, hitting $15.69. 320 shares of the stock traded hands, compared to its average volume of 4,999. The stock has a market cap of $94.70 million, a P/E ratio of 12.68 and a beta of 0.22. The stock’s fifty day moving average is $15.06 and its two-hundred day moving average is $15.07. Limestone Bancorp has a 52-week low of $12.50 and a 52-week high of $16.59. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90.
Limestone Bancorp (NASDAQ:LMST) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.17. The business had revenue of $10.25 million during the quarter, compared to analyst estimates of $10.47 million. Limestone Bancorp had a net margin of 21.28% and a return on equity of 11.65%. As a group, equities analysts forecast that Limestone Bancorp will post 1.34 EPS for the current fiscal year.
Several research firms have commented on LMST. Raymond James began coverage on shares of Limestone Bancorp in a research report on Thursday, August 15th. They set an “outperform” rating and a $18.00 price target for the company. ValuEngine lowered shares of Limestone Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Janney Montgomery Scott lowered shares of Limestone Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 21st. Finally, Zacks Investment Research raised shares of Limestone Bancorp from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Limestone Bancorp has an average rating of “Buy” and a consensus price target of $17.50.
About Limestone Bancorp
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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