Zacks: Analysts Expect Level One Bancorp (LEVL) Will Announce Earnings of $0.44 Per Share

Wall Street analysts predict that Level One Bancorp (NASDAQ:LEVL) will report earnings of $0.44 per share for the current quarter, according to Zacks. Two analysts have made estimates for Level One Bancorp’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.42. The company is scheduled to issue its next quarterly earnings report on Tuesday, January 29th.

On average, analysts expect that Level One Bancorp will report full-year earnings of $1.86 per share for the current fiscal year, with EPS estimates ranging from $1.83 to $1.88. For the next fiscal year, analysts expect that the company will report earnings of $2.12 per share, with EPS estimates ranging from $2.09 to $2.15. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Level One Bancorp.

Level One Bancorp (NASDAQ:LEVL) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.06). The firm had revenue of $14.99 million during the quarter, compared to analyst estimates of $14.60 million.

Separately, Zacks Investment Research cut Level One Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday.

Shares of NASDAQ LEVL traded down $0.59 during trading on Monday, reaching $26.64. The stock had a trading volume of 51,934 shares, compared to its average volume of 6,861. Level One Bancorp has a fifty-two week low of $25.50 and a fifty-two week high of $30.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.10.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Sunday, September 30th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%.

Several hedge funds and other institutional investors have recently modified their holdings of LEVL. Rehmann Capital Advisory Group acquired a new stake in shares of Level One Bancorp in the second quarter valued at $272,000. Telemus Capital LLC purchased a new position in Level One Bancorp in the second quarter valued at $272,000. Raymond James & Associates purchased a new position in Level One Bancorp in the second quarter valued at $304,000. Northern Trust Corp purchased a new position in Level One Bancorp in the second quarter valued at $356,000. Finally, Clarkston Capital Partners LLC purchased a new position in Level One Bancorp in the second quarter valued at $408,000. 39.02% 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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Earnings History and Estimates for Level One Bancorp (NASDAQ:LEVL)

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