Level One Bancorp (NASDAQ:LEVL) has been assigned an average broker rating score of 2.67 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. Level One Bancorp’s rating score has declined by 14.6% in the last 90 days as a result of a number of analysts’ ratings changes.
Analysts have set a 12 month consensus target price of $27.50 for the company and are forecasting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also given Level One Bancorp an industry rank of 172 out of 256 based on the ratings given to related companies.
Several equities analysts have recently weighed in on the company. ValuEngine raised Level One Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 18th. Sandler O’Neill initiated coverage on Level One Bancorp in a report on Friday, June 7th. They set a “hold” rating on the stock. Finally, Zacks Investment Research downgraded Level One Bancorp from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.
Several institutional investors and hedge funds have recently modified their holdings of LEVL. Citigroup Inc. boosted its position in Level One Bancorp by 239.8% during the 4th quarter. Citigroup Inc. now owns 1,298 shares of the company’s stock worth $29,000 after acquiring an additional 916 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Level One Bancorp by 476.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,125 shares of the company’s stock worth $26,000 after buying an additional 930 shares in the last quarter. Raymond James & Associates raised its stake in shares of Level One Bancorp by 13.1% in the 4th quarter. Raymond James & Associates now owns 15,550 shares of the company’s stock worth $349,000 after buying an additional 1,800 shares in the last quarter. American International Group Inc. raised its stake in shares of Level One Bancorp by 267.7% in the 4th quarter. American International Group Inc. now owns 3,398 shares of the company’s stock worth $76,000 after buying an additional 2,474 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Level One Bancorp by 115.1% in the 4th quarter. Bank of America Corp DE now owns 4,677 shares of the company’s stock worth $105,000 after buying an additional 2,503 shares in the last quarter. Institutional investors own 44.56% of the company’s stock.
NASDAQ:LEVL traded up $0.96 during mid-day trading on Friday, reaching $24.31. The company’s stock had a trading volume of 10,800 shares, compared to its average volume of 9,256. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. Level One Bancorp has a twelve month low of $20.89 and a twelve month high of $28.53. The firm has a market cap of $183.39 million, a price-to-earnings ratio of 12.73 and a beta of 0.81.
Level One Bancorp (NASDAQ:LEVL) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.44 earnings per share (EPS) 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 return on equity of 9.84% and a net margin of 19.72%. As a group, research analysts forecast that Level One Bancorp will post 1.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be given a $0.04 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.66%. Level One Bancorp’s payout ratio is 8.38%.
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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