Level One Bancorp (NASDAQ:LEVL) Upgraded to Hold at Zacks Investment Research
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. “
Separately, ValuEngine upgraded shares of Level One Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Level One Bancorp presently has an average rating of “Hold” and an average price target of $27.00.
Level One Bancorp (NASDAQ:LEVL) last released its earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The firm had revenue of $16.85 million for the quarter, compared to analysts’ expectations of $16.69 million. Level One Bancorp had a net margin of 18.75% and a return on equity of 9.79%. As a group, sell-side analysts anticipate that Level One Bancorp will post 1.9 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEVL. BlackRock Inc. raised its position in shares of Level One Bancorp by 0.9% in the second quarter. BlackRock Inc. now owns 249,037 shares of the company’s stock valued at $6,223,000 after purchasing an additional 2,145 shares during the period. First Trust Advisors LP bought a new stake in shares of Level One Bancorp in the third quarter valued at approximately $245,000. Vanguard Group Inc. raised its position in shares of Level One Bancorp by 5.9% in the second quarter. Vanguard Group Inc. now owns 138,910 shares of the company’s stock valued at $3,471,000 after purchasing an additional 7,793 shares during the period. Northern Trust Corp raised its position in shares of Level One Bancorp by 3.1% in the second quarter. Northern Trust Corp now owns 49,608 shares of the company’s stock valued at $1,239,000 after purchasing an additional 1,513 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Level One Bancorp by 10.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 11,014 shares of the company’s stock valued at $276,000 after purchasing an additional 1,044 shares during the period. Hedge funds and other institutional investors own 44.81% of the company’s stock.
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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