Limestone Bancorp (NASDAQ:LMST) Receives New Coverage from Analysts at Raymond James

Raymond James initiated coverage on shares of Limestone Bancorp (NASDAQ:LMST) in a research note released on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $18.00 target price on the stock.

Several other research analysts have also weighed in on LMST. Zacks Investment Research lowered shares of Limestone Bancorp from a buy rating to a hold rating in a research report on Tuesday, July 30th. ValuEngine lowered shares of Limestone Bancorp from a hold rating to a sell rating in a research report on Tuesday, July 2nd.

NASDAQ LMST traded up $0.02 during trading hours on Thursday, hitting $15.04. 1,677 shares of the stock were exchanged, compared to its average volume of 3,159. The company has a market cap of $94.20 million, a price-to-earnings ratio of 12.23 and a beta of 0.19. Limestone Bancorp has a 12-month low of $11.91 and a 12-month high of $16.59. The stock has a 50-day moving average of $15.16 and a 200 day moving average of $15.05. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81.

Limestone Bancorp (NASDAQ:LMST) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.17. Limestone Bancorp had a net margin of 21.28% and a return on equity of 11.65%. The firm had revenue of $10.25 million during the quarter, compared to analysts’ expectations of $10.47 million. On average, equities research analysts expect that Limestone Bancorp will post 1.31 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. EJF Capital LLC grew its position in shares of Limestone Bancorp by 3.8% in the second quarter. EJF Capital LLC now owns 301,100 shares of the company’s stock valued at $4,592,000 after purchasing an additional 11,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Limestone Bancorp by 6.6% in the second 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 last quarter. BlackRock Inc. grew its position in shares of Limestone Bancorp by 14.3% in the second 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 grew its position in shares of Limestone Bancorp by 51.2% in the second 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 last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Limestone Bancorp by 97.0% in the second quarter. Acadian Asset Management LLC now owns 6,235 shares of the company’s stock valued at $95,000 after purchasing an additional 3,070 shares during the last quarter. Institutional investors and hedge funds own 26.62% of the company’s stock.

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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