Zacks: Brokerages Set $17.13 Price Target for Limestone Bancorp Inc (NASDAQ:LMST)

Limestone Bancorp Inc (NASDAQ:LMST) has been given a consensus broker rating score of 2.50 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company. Limestone Bancorp’s rating score has declined by 150% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 1 year consensus target price of $17.13 for the company and are expecting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Limestone Bancorp an industry rank of 209 out of 255 based on the ratings given to related companies.

Several equities analysts have weighed in on LMST shares. ValuEngine raised Limestone Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Janney Montgomery Scott lowered Limestone Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 21st. Zacks Investment Research raised Limestone Bancorp from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research note on Friday, August 23rd. Finally, Raymond James started coverage on Limestone Bancorp in a research note on Thursday, August 15th. They issued an “outperform” rating and a $18.00 target price on the stock.

Limestone Bancorp stock opened at $15.25 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $95.26 million, a P/E ratio of 12.40 and a beta of 0.22. The business’s fifty day moving average is $15.18 and its two-hundred day moving average is $15.11. Limestone Bancorp has a 52 week low of $12.50 and a 52 week high of $15.99.

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, beating the consensus estimate of $0.32 by $0.17. Limestone Bancorp had a return on equity of 11.65% and a net margin of 21.28%. The business had revenue of $10.25 million for the quarter, compared to analyst estimates of $10.47 million. On average, equities research analysts predict that Limestone Bancorp will post 1.34 earnings per share for the current year.

In related news, major shareholder Jennifer Elizabeth Porter sold 28,300 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $15.42, for a total transaction of $436,386.00. Also, major shareholder Jack Chester Jr. Porter sold 1,700 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $15.50, for a total value of $26,350.00. Insiders sold 32,750 shares of company stock worth $504,396 in the last three months. Insiders own 17.00% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Susquehanna International Group LLP grew its holdings in shares of Limestone Bancorp by 31.1% during the second quarter. Susquehanna International Group LLP now owns 20,905 shares of the company’s stock worth $319,000 after buying an additional 4,965 shares in the last quarter. EJF Capital LLC grew its holdings in shares of Limestone Bancorp by 3.8% during the second quarter. EJF Capital LLC now owns 301,100 shares of the company’s stock worth $4,592,000 after buying an additional 11,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Limestone Bancorp by 6.6% during the second quarter. Vanguard Group Inc. now owns 77,016 shares of the company’s stock worth $1,175,000 after buying an additional 4,756 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Limestone Bancorp by 14.3% during the second quarter. BlackRock Inc. now owns 13,325 shares of the company’s stock worth $203,000 after buying an additional 1,665 shares in the last quarter. Finally, Context BH Capital Management LP grew its holdings in shares of Limestone Bancorp by 51.2% during the second quarter. Context BH Capital Management LP now owns 22,959 shares of the company’s stock worth $350,000 after buying an additional 7,774 shares in the last quarter. Institutional investors and hedge funds own 28.55% 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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