Short Interest in Limestone Bancorp, Inc. (NASDAQ:LMST) Rises By 30.7%

Limestone Bancorp, Inc. (NASDAQ:LMST) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 69,000 shares, an increase of 30.7% from the March 31st total of 52,800 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average daily volume of 10,900 shares, the days-to-cover ratio is presently 6.3 days.

Limestone Bancorp stock traded up $0.03 during midday trading on Tuesday, reaching $15.88. 8,340 shares of the stock traded hands, compared to its average volume of 11,216. The company has a 50-day simple moving average of $15.82 and a two-hundred day simple moving average of $13.84. Limestone Bancorp has a 12-month low of $9.82 and a 12-month high of $17.00. The firm has a market cap of $104.73 million, a PE ratio of 15.39 and a beta of 0.87. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.46.

Limestone Bancorp (NASDAQ:LMST) last announced its quarterly earnings data on Tuesday, April 20th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12. Limestone Bancorp had a return on equity of 7.64% and a net margin of 13.33%. Equities research analysts anticipate that Limestone Bancorp will post 0.99 earnings per share for the current year.

LMST has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Limestone Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Thursday, April 29th. Raymond James upgraded Limestone Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, January 25th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC purchased a new position in shares of Limestone Bancorp in the 1st quarter valued at about $32,000. JPMorgan Chase & Co. boosted its stake in shares of Limestone Bancorp by 190.1% in the 4th quarter. JPMorgan Chase & Co. now owns 14,937 shares of the company’s stock valued at $188,000 after buying an additional 9,788 shares during the period. ELCO Management Co. LLC boosted its stake in shares of Limestone Bancorp by 53.8% in the 4th quarter. ELCO Management Co. LLC now owns 29,945 shares of the company’s stock valued at $376,000 after buying an additional 10,474 shares during the period. Banc Funds Co. LLC boosted its stake in shares of Limestone Bancorp by 5.0% in the 4th quarter. Banc Funds Co. LLC now owns 366,452 shares of the company’s stock valued at $4,603,000 after buying an additional 17,606 shares during the period. Finally, Mendon Capital Advisors Corp boosted its stake in shares of Limestone Bancorp by 15.4% in the 4th quarter. Mendon Capital Advisors Corp now owns 79,989 shares of the company’s stock valued at $1,004,000 after buying an additional 10,648 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

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 savings, interest checking, and money market accounts, as well as fixed rate certificates with varying maturities.

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