Level One Bancorp (NASDAQ:LEVL) has been assigned an average broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company.
Analysts have set a 1-year consensus price objective of $31.67 for the company and are anticipating that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also given Level One Bancorp an industry rank of 105 out of 256 based on the ratings given to related companies.
LEVL has been the subject of several research reports. Zacks Investment Research raised Level One Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 29th. ValuEngine downgraded Level One Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th.
Level One Bancorp (NASDAQ:LEVL) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the 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. On average, analysts expect that Level One Bancorp will post 1.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Friday, December 28th.
In other news, Director James L. Bellinson purchased 8,114 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was acquired at an average price of $26.38 per share, with a total value of $214,047.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
A number of institutional investors have recently bought and sold shares of LEVL. Rehmann Capital Advisory Group increased its position in Level One Bancorp by 2,680.0% during the 3rd 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 in the last quarter. Clarkston Capital Partners LLC increased its position in Level One Bancorp by 682.7% during the 3rd quarter. Clarkston Capital Partners LLC now owns 117,401 shares of the company’s stock worth $3,264,000 after purchasing an additional 102,401 shares in the last quarter. EJF Capital LLC purchased a new stake in Level One Bancorp during the 2nd quarter worth about $2,718,000. BlackRock Inc. purchased a new stake in Level One Bancorp during the 2nd quarter worth about $1,973,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Level One Bancorp during the 3rd quarter worth about $1,738,000. Hedge funds and other institutional investors own 42.63% of the company’s stock.
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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