Zacks: Brokerages Anticipate Limestone Bancorp Inc (NASDAQ:LMST) Will Announce Quarterly Sales of $11.80 Million

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Brokerages predict that Limestone Bancorp Inc (NASDAQ:LMST) will announce sales of $11.80 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Limestone Bancorp’s earnings, with estimates ranging from $11.60 million to $12.00 million. Limestone Bancorp reported sales of $10.25 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.1%. The business is scheduled to issue its next earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that Limestone Bancorp will report full-year sales of $47.65 million for the current financial year, with estimates ranging from $47.30 million to $48.00 million. For the next fiscal year, analysts expect that the company will post sales of $48.05 million, with estimates ranging from $48.00 million to $48.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Limestone Bancorp.

Limestone Bancorp (NASDAQ:LMST) last announced its quarterly earnings results on Thursday, April 16th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The company had revenue of $11.49 million for the quarter, compared to analysts’ expectations of $10.95 million. Limestone Bancorp had a net margin of 16.69% and a return on equity of 9.72%.

Several brokerages have recently weighed in on LMST. Zacks Investment Research cut shares of Limestone Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 23rd. ValuEngine cut shares of Limestone Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Finally, Raymond James cut shares of Limestone Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, April 20th.

In other news, Director Kevin James Kooman bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were bought at an average price of $7.50 per share, for a total transaction of $75,000.00. In the last 90 days, insiders have acquired 40,000 shares of company stock worth $328,600. 17.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mendon Capital Advisors Corp bought a new stake in Limestone Bancorp during the 4th quarter worth approximately $483,000. Salzhauer Michael bought a new stake in Limestone Bancorp during the 4th quarter worth approximately $540,000. Fourthstone LLC bought a new stake in Limestone Bancorp during the 4th quarter worth approximately $2,453,000. Alliancebernstein L.P. raised its stake in Limestone Bancorp by 10.0% during the 4th quarter. Alliancebernstein L.P. now owns 233,739 shares of the company’s stock worth $4,207,000 after acquiring an additional 21,328 shares during the period. Finally, Patriot Financial Partners GP LP raised its stake in 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 acquiring an additional 30,000 shares during the period. Institutional investors own 34.62% of the company’s stock.

Shares of NASDAQ LMST opened at $12.00 on Friday. The firm’s 50-day moving average price is $11.94 and its 200-day moving average price is $14.84. Limestone Bancorp has a 52-week low of $6.83 and a 52-week high of $18.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The company has a market cap of $72.97 million, a PE ratio of 8.50 and a beta of 0.93.

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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