Limestone Bancorp Inc (NASDAQ:LMST) Short Interest Up 92.9% in August

Limestone Bancorp Inc (NASDAQ:LMST) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,700 shares, an increase of 92.9% from the July 31st total of 1,400 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 3,300 shares, the days-to-cover ratio is currently 0.8 days.

LMST has been the topic of a number of recent research reports. Janney Montgomery Scott downgraded shares of Limestone Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 21st. Raymond James initiated coverage on shares of Limestone Bancorp in a research note on Thursday, August 15th. They set an “outperform” rating and a $18.00 price target on the stock. Zacks Investment Research raised shares of Limestone Bancorp from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Friday, August 23rd. Finally, ValuEngine downgraded shares of Limestone Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One investment 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 company. The company currently has an average rating of “Buy” and an average target price of $17.50.

Several institutional investors and hedge funds have recently made changes to their positions in LMST. Meridian Wealth Management LLC purchased a new stake in shares of Limestone Bancorp in the first quarter valued at $33,000. Acadian Asset Management LLC raised its stake 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 acquiring an additional 3,070 shares during the period. BlackRock Inc. raised its stake 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 acquiring 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 $227,000. Finally, Susquehanna International Group LLP raised its stake 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 during the period. 28.60% of the stock is currently owned by institutional investors and hedge funds.



Limestone Bancorp stock traded up $0.38 during mid-day trading on Friday, reaching $15.69. 320 shares of the company’s stock traded hands, compared to its average volume of 4,999. The company has a market cap of $94.70 million, a price-to-earnings ratio of 12.68 and a beta of 0.22. The stock has a 50 day moving average of $15.06 and a two-hundred day moving average of $15.07. 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.

Limestone Bancorp (NASDAQ:LMST) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.17. The company had revenue of $10.25 million for the quarter, compared to the consensus estimate of $10.47 million. Limestone Bancorp had a net margin of 21.28% and a return on equity of 11.65%. As a group, sell-side analysts forecast that Limestone Bancorp will post 1.34 earnings per share for the current year.

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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