Raymond James Begins Coverage on Limestone Bancorp (NASDAQ:LMST)

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

A number of other research firms have also recently commented on LMST. Zacks Investment Research cut shares of Limestone Bancorp from a buy rating to a hold rating in a research note on Tuesday, July 30th. ValuEngine cut shares of Limestone Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

LMST opened at $15.02 on Thursday. The stock has a market capitalization of $93.88 million, a price-to-earnings ratio of 10.15 and a beta of 0.19. The company has a fifty day moving average of $15.16 and a two-hundred day moving average of $15.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. Limestone Bancorp has a fifty-two week low of $11.91 and a fifty-two week high of $16.59.

Limestone Bancorp (NASDAQ:LMST) last released its earnings results on Wednesday, July 24th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.17. The business had revenue of $10.25 million during the quarter, compared to analysts’ expectations of $10.47 million. Limestone Bancorp had a net margin of 21.28% and a return on equity of 11.65%. On average, equities research analysts forecast that Limestone Bancorp will post 1.33 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake 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 purchasing an additional 1,665 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Limestone Bancorp during the first quarter worth about $33,000. Acadian Asset Management LLC increased its stake 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 worth $95,000 after purchasing an additional 3,070 shares in the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 4,756 shares in the last quarter. Finally, Susquehanna International Group LLP increased its stake 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 purchasing an additional 4,965 shares in the last quarter. 26.62% of the stock is owned by institutional investors and hedge funds.

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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