Short-term stake in Limestone Bancorp, Inc. (NASDAQ:LMST) drops 65.4%

Limestone Bancorp, Inc. (NASDAQ:LMST – Get Rating) was the target of a significant drop in short interest in October. As of October 31, there was selling interest totaling 3,600 shares, down 65.4% from the total of 10,400 shares as of October 15. Based on an average daily trading volume of 13,200 shares, the short-term interest rate ratio is currently 0.3 day. Approximately 0.1% of the company’s shares are sold short.

Limestone Bancorp is trading down 0.6%

LMST stock was down $0.15 midday Friday, hitting $25.10. The company’s stock had a trading volume of 6,841 shares, compared to an average volume of 9,479. The company’s 50-day simple moving average is $21.12 and its 200-day simple moving average is of $20.19. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt ratio of 0.90. Limestone Bancorp has a 52 week minimum of $18.25 and a 52 week maximum of $26.00. The stock has a market capitalization of $166.64 million, a PE ratio of 11.43 and a beta of 0.79.

Limestone Bancorp Inc (NASDAQ:LMST – Get Rating) last released its quarterly results on Wednesday, October 19. The company reported earnings per share of $0.76 for the quarter, beating consensus analyst estimates of $0.55 by $0.21. Limestone Bancorp had a return on equity of 13.13% and a net margin of 27.35%. The company posted revenue of $15.14 million for the quarter, versus a consensus estimate of $14.20 million. As a group, sell-side analysts expect Limestone Bancorp to post EPS of 2.39 for the current year.

Limestone Bancorp announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 5. Shareholders of record on Wednesday, November 16 will receive a dividend of $0.05. The ex-dividend date is Tuesday, November 15. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.80%. Limestone Bancorp’s dividend payout ratio (DPR) is currently 9.05%.

Institutional entries and exits

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Quadrant Capital Group LLC acquired a new stake in Limestone Bancorp in the third quarter worth approximately $49,000. Dimensional Fund Advisors LP increased its holdings of Limestone Bancorp shares by 1.9% in Q3. Dimensional Fund Advisors LP now owns 33,209 shares of the company valued at $652,000 after purchasing an additional 634 shares during the period. UBS Group AG increased its position in shares of Limestone Bancorp by 14.1% in the third quarter. UBS Group AG now owns 4,564 shares of the company valued at $89,000 after buying an additional 564 shares last quarter. The Manufacturers Life Insurance Company increased its stake in Limestone Bancorp by 10.2% during the third quarter. The Manufacturers Life Insurance Company now owns 169,928 shares of the company worth $3,334,000 after purchasing an additional 15,735 shares during the period. Finally, State Street Corp increased its stake in Limestone Bancorp by 27.1% during the second quarter. State Street Corp now owns 16,112 shares of the company worth $297,000 after acquiring 3,436 additional shares in the last quarter. Institutional investors hold 42.99% of the company’s shares.

About Limestone Bancorp

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Limestone Bancorp, Inc operates as a bank holding company for Limestone Bank, Inc which provides a range of personal and professional banking products and services. The Company’s deposit products include savings, interest control and money market accounts, as well as fixed rate certificates with variable maturities.

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