Wall Street brokerages forecast that Limestone Bancorp Inc (NASDAQ:LMST) will post $12.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Limestone Bancorp’s earnings, with estimates ranging from $12.00 million to $12.20 million. Limestone Bancorp posted sales of $10.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.9%. The company is scheduled to report its next earnings results on Wednesday, October 28th.
According to Zacks, analysts expect that Limestone Bancorp will report full year sales of $47.65 million for the current year, with estimates ranging from $47.30 million to $48.00 million. For the next year, analysts expect that the firm will report sales of $48.05 million, with estimates ranging from $48.00 million to $48.10 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Limestone Bancorp.
Limestone Bancorp (NASDAQ:LMST) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. Limestone Bancorp had a net margin of 13.66% and a return on equity of 8.07%. The firm had revenue of $11.71 million during the quarter, compared to the consensus estimate of $11.30 million.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Limestone Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, June 23rd. Raymond James downgraded shares of Limestone Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, April 20th.
In related news, Director W Glenn Hogan bought 18,763 shares of the company’s stock in a transaction on Monday, July 27th. The stock was bought at an average cost of $11.00 per share, with a total value of $206,393.00. Insiders own 17.00% of the company’s stock.
Large investors have recently modified their holdings of the company. UBS Group AG grew its position in shares of Limestone Bancorp by 913.0% during the 2nd quarter. UBS Group AG now owns 6,007 shares of the company’s stock worth $79,000 after buying an additional 5,414 shares during the period. Mendon Capital Advisors Corp grew its position in shares of Limestone Bancorp by 30.9% during the 1st quarter. Mendon Capital Advisors Corp now owns 35,117 shares of the company’s stock worth $392,000 after buying an additional 8,284 shares during the period. Fourthstone LLC grew its position in shares of Limestone Bancorp by 58.7% during the 1st quarter. Fourthstone LLC now owns 216,203 shares of the company’s stock worth $2,452,000 after buying an additional 79,943 shares during the period. Alliancebernstein L.P. grew its position in shares of Limestone Bancorp by 7.5% during the 1st quarter. Alliancebernstein L.P. now owns 251,239 shares of the company’s stock worth $2,799,000 after buying an additional 17,500 shares during the period. Finally, Patriot Financial Partners GP LP grew its position in shares of Limestone Bancorp by 11.5% during the 1st quarter. Patriot Financial Partners GP LP now owns 291,494 shares of the company’s stock worth $3,247,000 after buying an additional 30,000 shares during the period. Institutional investors own 35.29% of the company’s stock.
Shares of LMST stock opened at $10.58 on Thursday. Limestone Bancorp has a 12-month low of $6.83 and a 12-month high of $18.49. The company has a market capitalization of $66.34 million, a P/E ratio of 9.98 and a beta of 0.97. The firm has a 50-day moving average price of $12.20 and a 200 day moving average price of $13.21. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.
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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