Level One Bancorp (NASDAQ:LEVL) has been given a consensus broker rating score of 2.67 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Level One Bancorp’s rating score has declined by 14.6% from three months ago as a result of a number of analysts’ upgrades and downgrades.
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 earnings per share for the current quarter, according to Zacks. Zacks has also given Level One Bancorp an industry rank of 145 out of 256 based on the ratings given to its competitors.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Level One Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of Level One Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 18th. Finally, Sandler O’Neill assumed coverage on shares of Level One Bancorp in a research note on Friday, June 7th. They issued a “hold” rating on the stock.
Level One Bancorp (NASDAQ:LEVL) last released 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. The firm had revenue of $19.73 million during 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 9.84%. Analysts forecast that Level One Bancorp will post 1.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, June 27th. Level One Bancorp’s dividend payout ratio is presently 8.38%.
In related news, Director James L. Bellinson purchased 4,487 shares of Level One Bancorp stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $23.98 per share, with a total value of $107,598.26. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 37.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Citigroup Inc. increased its stake in Level One Bancorp by 239.8% in the 4th quarter. Citigroup Inc. now owns 1,298 shares of the company’s stock worth $29,000 after buying an additional 916 shares during the period. BNP Paribas Arbitrage SA increased its position in Level One Bancorp by 476.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,125 shares of the company’s stock valued at $26,000 after purchasing an additional 930 shares during the period. Raymond James & Associates increased its position in Level One Bancorp by 13.1% during the 4th quarter. Raymond James & Associates now owns 15,550 shares of the company’s stock valued at $349,000 after purchasing an additional 1,800 shares during the period. American International Group Inc. increased its position in Level One Bancorp by 267.7% during the 4th quarter. American International Group Inc. now owns 3,398 shares of the company’s stock valued at $76,000 after purchasing an additional 2,474 shares during the period. Finally, Bank of America Corp DE increased its position in Level One Bancorp by 115.1% during the 4th quarter. Bank of America Corp DE now owns 4,677 shares of the company’s stock valued at $105,000 after purchasing an additional 2,503 shares during the period. 44.56% of the stock is currently owned by institutional investors.
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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