Zacks: Brokerages Expect Level One Bancorp (LEVL) Will Announce Quarterly Sales of $15.55 Million

Brokerages expect Level One Bancorp (NASDAQ:LEVL) to announce $15.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Level One Bancorp’s earnings, with estimates ranging from $15.50 million to $15.60 million. Level One Bancorp reported sales of $13.87 million in the same quarter last year, which indicates a positive year over year growth rate of 12.1%. The company is scheduled to announce its next quarterly earnings report on Monday, July 29th.

On average, analysts expect that Level One Bancorp will report full-year sales of $63.00 million for the current fiscal year, with estimates ranging from $62.70 million to $63.30 million. For the next financial year, analysts anticipate that the firm will post sales of $68.70 million, with estimates ranging from $68.60 million to $68.80 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Level One Bancorp.

Level One Bancorp (NASDAQ:LEVL) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $19.73 million for the quarter, compared to analyst estimates of $14.90 million. Level One Bancorp had a net margin of 19.72% and a return on equity of 10.00%.

LEVL has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Level One Bancorp from a “hold” rating to a “sell” rating in a report on Friday, February 8th. ValuEngine lowered shares of Level One Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Level One Bancorp presently has a consensus rating of “Hold” and a consensus price target of $32.00.

LEVL traded up $0.37 on Thursday, reaching $24.49. 2,954 shares of the company’s stock were exchanged, compared to its average volume of 10,183. The firm has a market capitalization of $188.40 million and a PE ratio of 12.82. Level One Bancorp has a twelve month low of $20.89 and a twelve month high of $28.90. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a $0.04 dividend. This is a positive change from Level One Bancorp’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, March 28th. Level One Bancorp’s dividend payout ratio is currently 8.38%.

In other Level One Bancorp news, EVP Gregory A. Wernette sold 5,500 shares of the stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $24.04, for a total value of $132,220.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James L. Bellinson acquired 2,000 shares of the company’s stock in a transaction on Thursday, February 14th. The stock was purchased at an average cost of $23.86 per share, for a total transaction of $47,720.00. The disclosure for this purchase can be found here. Corporate insiders own 37.90% of the company’s stock.

Several large investors have recently made changes to their positions in LEVL. Vanguard Group Inc. increased its position in shares of Level One Bancorp by 85.6% in the 3rd quarter. Vanguard Group Inc. now owns 18,853 shares of the company’s stock valued at $524,000 after purchasing an additional 8,695 shares during the last quarter. Vanguard Group Inc increased its position in shares of Level One Bancorp by 85.6% in the 3rd quarter. Vanguard Group Inc now owns 18,853 shares of the company’s stock valued at $524,000 after purchasing an additional 8,695 shares during the last quarter. Clarkston Capital Partners LLC increased its position in shares of Level One Bancorp by 3.5% in the 4th quarter. Clarkston Capital Partners LLC now owns 121,529 shares of the company’s stock valued at $2,726,000 after purchasing an additional 4,128 shares during the last quarter. BlackRock Inc. grew its position in shares of Level One Bancorp by 255.1% in the 4th quarter. BlackRock Inc. now owns 261,223 shares of the company’s stock valued at $5,859,000 after buying an additional 187,662 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Level One Bancorp in the 4th quarter valued at $488,000. 44.75% of the stock is currently owned by institutional investors.

Level One Bancorp Company Profile

Level One Bancorp, Inc operates as a bank holding company for Level One Bank that provides business and consumer financial services in Michigan. It offers a range of deposit services, including checking accounts, NOW accounts, savings, other time deposits, certificates of deposit, and specialty deposit accounts.

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Earnings History and Estimates for Level One Bancorp (NASDAQ:LEVL)

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