Zacks Investment Research upgraded shares of Level One Bancorp (NASDAQ:LEVL) from a sell rating to a hold rating in a report released on Saturday, Zacks.com reports.

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. “

A number of other analysts also recently weighed in on the company. Piper Jaffray Companies set a $25.00 price target on Level One Bancorp and gave the stock a hold rating in a report on Wednesday, July 31st. Sandler O’Neill assumed coverage on Level One Bancorp in a report on Friday, June 7th. They set a hold rating for the company. ValuEngine downgraded Level One Bancorp from a sell rating to a strong sell rating in a report on Tuesday, July 23rd. Finally, Raymond James decreased their price target on Level One Bancorp from $29.00 to $28.00 and set an outperform rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Level One Bancorp has a consensus rating of Hold and a consensus price target of $26.50.

NASDAQ LEVL opened at $23.50 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $23.68 and a 200 day simple moving average of $23.85. Level One Bancorp has a twelve month low of $20.89 and a twelve month high of $28.53. The company has a market capitalization of $184.37 million, a price-to-earnings ratio of 12.30 and a beta of 0.88.

Level One Bancorp (NASDAQ:LEVL) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.04). Level One Bancorp had a return on equity of 9.24% and a net margin of 18.06%. The business had revenue of $15.92 million for the quarter, compared to analyst estimates of $15.55 million. Research analysts expect that Level One Bancorp will post 1.91 earnings per share for the current fiscal year.

In other Level One Bancorp news, Director James L. Bellinson purchased 4,487 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $23.98 per share, for a total transaction of $107,598.26. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James L. Bellinson purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $23.56 per share, with a total value of $117,800.00. The disclosure for this purchase can be found here. Company insiders own 37.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC bought a new position in shares of Level One Bancorp during the 2nd quarter worth about $348,000. BlackRock Inc. boosted its position in shares of Level One Bancorp by 255.1% during the 4th quarter. BlackRock Inc. now owns 261,223 shares of the company’s stock worth $5,859,000 after purchasing an additional 187,662 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Level One Bancorp by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 138,910 shares of the company’s stock worth $3,471,000 after purchasing an additional 7,793 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Level One Bancorp by 3.8% during the 2nd quarter. Clarkston Capital Partners LLC now owns 123,016 shares of the company’s stock worth $3,074,000 after purchasing an additional 4,487 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Level One Bancorp by 3.1% during the 2nd quarter. Northern Trust Corp now owns 49,608 shares of the company’s stock worth $1,239,000 after purchasing an additional 1,513 shares in the last quarter. 49.64% of the stock is currently owned by institutional investors.

Level One Bancorp Company Profile

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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