Level One Bancorp (NASDAQ:LEVL) has earned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company.
Brokerages have set a 1 year consensus target price of $30.33 for the company and are anticipating that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also given Level One Bancorp an industry rank of 206 out of 255 based on the ratings given to its competitors.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Level One Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Zacks Investment Research downgraded shares of Level One Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, February 8th.
Level One Bancorp (NASDAQ:LEVL) last announced its quarterly earnings results on Wednesday, January 30th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The company had revenue of $15.12 million during the quarter, compared to analysts’ expectations of $15.20 million. Level One Bancorp had a return on equity of 10.44% and a net margin of 20.30%. As a group, equities analysts forecast that Level One Bancorp will post 2.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.68%. This is an increase from Level One Bancorp’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, March 28th. Level One Bancorp’s dividend payout ratio is 8.38%.
In related news, EVP Gregory A. Wernette sold 5,500 shares of the stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $24.04, for a total value of $132,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James L. Bellinson purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The stock was bought at an average cost of $23.86 per share, with a total value of $47,720.00. The disclosure for this purchase can be found here.
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its stake in Level One Bancorp by 13.1% in the fourth 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. Vanguard Group Inc raised its stake in Level One Bancorp by 85.6% in the third quarter. Vanguard Group Inc now owns 18,853 shares of the company’s stock worth $524,000 after buying an additional 8,695 shares in the last quarter. Clarkston Capital Partners LLC grew its holdings in Level One Bancorp by 3.5% in the fourth quarter. Clarkston Capital Partners LLC now owns 121,529 shares of the company’s stock worth $2,726,000 after purchasing an additional 4,128 shares during the period. Vanguard Group Inc. grew its holdings in Level One Bancorp by 85.6% in the third quarter. Vanguard Group Inc. now owns 18,853 shares of the company’s stock worth $524,000 after purchasing an additional 8,695 shares during the period. Finally, Rehmann Capital Advisory Group grew its holdings in Level One Bancorp by 2,680.0% in the third quarter. Rehmann Capital Advisory Group now owns 278,000 shares of the company’s stock worth $10,000,000 after purchasing an additional 268,000 shares during the period. 45.35% of the stock is 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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