Level One Bancorp (NASDAQ:LEVL) Director Buys $117,800.00 in Stock

Level One Bancorp (NASDAQ:LEVL) Director James L. Bellinson purchased 5,000 shares of the stock in a transaction on Friday, August 16th. The shares were bought at an average price of $23.56 per share, for a total transaction of $117,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Level One Bancorp stock traded down $0.16 during midday trading on Monday, hitting $23.69. The company had a trading volume of 15,104 shares, compared to its average volume of 7,524. The business’s 50 day simple moving average is $23.74 and its two-hundred day simple moving average is $23.85. The stock has a market cap of $182.05 million, a PE ratio of 12.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.92. Level One Bancorp has a 1-year low of $20.89 and a 1-year high of $28.53.

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

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Level One Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Raymond James lowered their price objective on shares of Level One Bancorp from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Sandler O’Neill assumed coverage on shares of Level One Bancorp in a research note on Friday, June 7th. They issued a “hold” rating on the stock. ValuEngine downgraded shares of Level One Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Finally, Piper Jaffray Companies set a $25.00 price objective on shares of Level One Bancorp and gave the stock a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.50.

Institutional investors have recently made changes to their positions in the company. Integrated Investment Consultants LLC acquired a new stake in shares of Level One Bancorp in the second quarter worth $348,000. BlackRock Inc. grew its stake in shares of Level One Bancorp by 255.1% in the fourth quarter. BlackRock Inc. now owns 261,223 shares of the company’s stock worth $5,859,000 after acquiring an additional 187,662 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Level One Bancorp in the fourth quarter worth $488,000. Clarkston Capital Partners LLC lifted its position in Level One Bancorp by 3.8% in the second 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 during the period. Finally, Bank of America Corp DE lifted its position in Level One Bancorp by 115.1% in the fourth quarter. Bank of America Corp DE now owns 4,677 shares of the company’s stock worth $105,000 after purchasing an additional 2,503 shares during the period. Institutional investors and hedge funds own 49.64% 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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