Equities analysts expect Limestone Bancorp Inc (NASDAQ:LMST) to announce sales of $10.56 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Limestone Bancorp’s earnings, with the lowest sales estimate coming in at $10.50 million and the highest estimate coming in at $10.62 million. Limestone Bancorp posted sales of $9.92 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The business is expected to announce its next earnings report on Tuesday, October 22nd.
According to Zacks, analysts expect that Limestone Bancorp will report full-year sales of $41.85 million for the current fiscal year, with estimates ranging from $41.30 million to $42.39 million. For the next fiscal year, analysts anticipate that the business will report sales of $49.41 million, with estimates ranging from $47.90 million to $50.91 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Limestone Bancorp.
Limestone Bancorp (NASDAQ:LMST) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.17. The business had revenue of $10.25 million for the quarter, compared to the consensus estimate of $10.47 million. Limestone Bancorp had a return on equity of 11.65% and a net margin of 21.28%.
Several research firms have commented on LMST. ValuEngine lowered shares of Limestone Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded 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. Raymond James assumed 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. Finally, Janney Montgomery Scott downgraded shares of Limestone Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.50.
Shares of LMST traded up $0.06 during trading hours on Friday, reaching $15.29. 500 shares of the company traded hands, compared to its average volume of 5,625. The stock has a market capitalization of $96.19 million, a P/E ratio of 12.43 and a beta of 0.22. 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 has a 12-month low of $12.50 and a 12-month high of $16.59. The business has a fifty day moving average price of $15.08 and a 200-day moving average price of $15.08.
A number of large investors have recently made changes to their positions in LMST. Meridian Wealth Management LLC acquired a new stake in Limestone Bancorp during the 1st quarter worth $33,000. Acadian Asset Management LLC increased its stake in 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 period. BlackRock Inc. increased its stake in 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 period. Context BH Capital Management LP purchased a new stake in shares of Limestone Bancorp in the first quarter valued at about $227,000. Finally, Susquehanna International Group LLP boosted its holdings in shares of Limestone Bancorp by 31.1% in the second quarter. Susquehanna International Group LLP now owns 20,905 shares of the company’s stock valued at $319,000 after acquiring an additional 4,965 shares in the last quarter. Hedge funds and other institutional investors own 28.60% 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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