Wall Street analysts expect Level One Bancorp (NASDAQ:LEVL) to post $15.55 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Level One Bancorp’s earnings, with the highest sales estimate coming in at $15.60 million and the lowest estimate coming in at $15.50 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 firm is scheduled to announce its next 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 year, with estimates ranging from $62.70 million to $63.30 million. For the next year, analysts expect that the business will report 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 analysts that cover Level One Bancorp.
Level One Bancorp (NASDAQ:LEVL) last issued its earnings results on Tuesday, April 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Level One Bancorp had a net margin of 19.72% and a return on equity of 9.84%. The company had revenue of $19.73 million for the quarter, compared to analysts’ expectations of $14.90 million.
Level One Bancorp stock traded down $0.37 during midday trading on Monday, hitting $24.62. 6,800 shares of the company’s stock were exchanged, compared to its average volume of 9,806. 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 12 month low of $20.89 and a 12 month high of $28.53. The business’s 50-day moving average price is $24.12. The firm has a market cap of $193.70 million, a P/E ratio of 12.89 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, June 27th. Level One Bancorp’s payout ratio is 8.38%.
In other news, Director James L. Bellinson purchased 4,487 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $23.98 per share, with a total value of $107,598.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 37.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LEVL. BlackRock Inc. raised 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 purchasing an additional 187,662 shares during the last quarter. Northern Trust Corp raised its position in shares of Level One Bancorp by 267.5% in the 4th quarter. Northern Trust Corp now owns 47,372 shares of the company’s stock valued at $1,063,000 after purchasing an additional 34,482 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Level One Bancorp in the 4th quarter valued at approximately $505,000. Bank of New York Mellon Corp purchased a new position in shares of Level One Bancorp in the 4th quarter valued at approximately $488,000. Finally, Vanguard Group Inc. raised 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. 44.56% of the stock is owned by institutional investors and hedge funds.
About Level One Bancorp
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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