Level One Bancorp’s Lock-Up Period Will End on October 17th (NASDAQ:LEVL)
Level One Bancorp’s (NASDAQ:LEVL) lock-up period is set to end on Wednesday, October 17th. Level One Bancorp had issued 1,200,000 shares in its IPO on April 20th. The total size of the offering was $33,600,000 based on an initial share price of $28.00. After the end of Level One Bancorp’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Separately, Zacks Investment Research downgraded Level One Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th.
NASDAQ:LEVL opened at $27.57 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.94 and a quick ratio of 0.94. Level One Bancorp has a 52 week low of $25.50 and a 52 week high of $30.79.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Sunday, September 30th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, September 27th.
A number of large investors have recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group bought a new position in Level One Bancorp during the 2nd quarter worth approximately $272,000. Telemus Capital LLC acquired a new stake in shares of Level One Bancorp during the 2nd quarter worth approximately $272,000. Raymond James & Associates acquired a new stake in shares of Level One Bancorp during the 2nd quarter worth approximately $304,000. Northern Trust Corp acquired a new stake in shares of Level One Bancorp during the 2nd quarter worth approximately $356,000. Finally, Clarkston Capital Partners LLC acquired a new stake in shares of Level One Bancorp during the 2nd quarter worth approximately $408,000. 36.91% of the stock is currently 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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