Zacks: Level One Bancorp (NASDAQ:LEVL) Receives Consensus Rating of “Hold” from Analysts
Shares of Level One Bancorp (NASDAQ:LEVL) have received a consensus broker rating score of 2.67 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has issued a buy rating on the company. Level One Bancorp’s rating score has declined by 14.6% in the last three months as a result of a number of analysts’ ratings changes.
Brokers have set a twelve-month consensus target price of $27.50 for the company and are expecting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also given Level One Bancorp an industry rank of 172 out of 256 based on the ratings given to its competitors.
A number of analysts have recently weighed in on LEVL shares. ValuEngine downgraded shares of Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Sandler O’Neill initiated coverage on shares of Level One Bancorp in a research note on Friday, June 7th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd.
Level One Bancorp (NASDAQ:LEVL) last released its earnings results on Tuesday, April 30th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $19.73 million for the quarter, compared to the consensus estimate of $14.90 million. Level One Bancorp had a net margin of 19.72% and a return on equity of 9.84%. As a group, analysts predict that Level One Bancorp will post 1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Sunday, June 30th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, June 27th. Level One Bancorp’s payout ratio is 8.38%.
In other news, Director James L. Bellinson purchased 4,487 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $23.98 per share, for a total transaction of $107,598.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 37.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Integrated Investment Consultants LLC bought a new position in Level One Bancorp in the 2nd quarter worth about $348,000. BNP Paribas Arbitrage SA boosted its stake in Level One Bancorp by 476.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,125 shares of the company’s stock worth $26,000 after purchasing an additional 930 shares in the last quarter. Deutsche Bank AG boosted its stake in Level One Bancorp by 141.2% in the 4th quarter. Deutsche Bank AG now owns 6,827 shares of the company’s stock worth $151,000 after purchasing an additional 3,996 shares in the last quarter. Bank of America Corp DE lifted its stake in Level One Bancorp by 115.1% during the 4th quarter. Bank of America Corp DE now owns 4,677 shares of the company’s stock valued at $105,000 after acquiring an additional 2,503 shares during the period. Finally, American International Group Inc. lifted its stake in Level One Bancorp by 267.7% during the 4th quarter. American International Group Inc. now owns 3,398 shares of the company’s stock valued at $76,000 after acquiring an additional 2,474 shares during the period. Institutional investors own 44.56% 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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