According to Zacks, “Level One Bancorp, Inc. provides banking services. Its product portfolio include lines of credit, term loans, leases, commercial mortgages, SBA loans, export-import financing, treasury management, private banking, personal savings, checking accounts and consumer loan. Level One Bancorp is based in Michigan. “
Several other research analysts also recently commented on LEVL. Piper Jaffray Companies set a $25.00 price objective on shares of Level One Bancorp and gave the stock a hold rating in a report on Wednesday, July 31st. ValuEngine downgraded shares of Level One Bancorp from a sell rating to a strong sell rating in a report on Tuesday, July 23rd. Sandler O’Neill started coverage on shares of Level One Bancorp in a report on Friday, June 7th. They issued a hold rating for the company. Finally, Raymond James cut their price objective on shares of Level One Bancorp from $29.00 to $28.00 and set an outperform rating for the company in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $26.50.
Level One Bancorp (NASDAQ:LEVL) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The business had revenue of $15.92 million during the quarter, compared to the consensus estimate of $15.55 million. Level One Bancorp had a return on equity of 9.42% and a net margin of 18.06%. Research analysts anticipate that Level One Bancorp will post 1.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Sunday, June 30th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.68%. The ex-dividend date was 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 business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost 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. 37.90% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA raised its position in shares of 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 buying an additional 930 shares in the last quarter. Citigroup Inc. raised its position 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 purchasing an additional 916 shares during the period. American International Group Inc. raised its position in 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 purchasing an additional 2,474 shares during the period. Bank of America Corp DE raised its position in 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 purchasing an additional 2,503 shares during the period. Finally, Advisor Group Inc. purchased a new position in Level One Bancorp in the 4th quarter worth $110,000. 49.10% of the stock is owned by hedge funds and other 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.
See Also: Cost of Goods Sold (COGS)
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