Level One Bancorp (NASDAQ:LEVL) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Level One Bancorp (NASDAQ:LEVL) from a strong sell rating to a sell rating in a report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research raised Level One Bancorp from a hold rating to a buy rating and set a $21.00 price target on the stock in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Level One Bancorp has a consensus rating of Hold and a consensus price target of $24.67.

Shares of LEVL traded up $1.15 during trading hours on Thursday, hitting $17.99. 12,800 shares of the company were exchanged, compared to its average volume of 10,921. The company has a market cap of $130.25 million, a price-to-earnings ratio of 8.78 and a beta of 1.05. Level One Bancorp has a fifty-two week low of $13.44 and a fifty-two week high of $26.69. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $21.33 and its 200 day moving average is $23.89.

Level One Bancorp (NASDAQ:LEVL) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.17. Level One Bancorp had a return on equity of 10.07% and a net margin of 19.03%. The business had revenue of $17.50 million for the quarter, compared to analyst estimates of $15.60 million. Analysts anticipate that Level One Bancorp will post 2.27 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Level One Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, March 30th. Level One Bancorp’s dividend payout ratio (DPR) is presently 9.48%.

In related news, Director Jacob W. Haas acquired 3,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was bought at an average cost of $25.40 per share, for a total transaction of $76,200.00. Also, Director Jacob W. Haas acquired 2,207 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average price of $24.13 per share, with a total value of $53,254.91. Insiders have bought 14,000 shares of company stock worth $347,800 over the last three months. Insiders own 38.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. John W. Rosenthal Capital Management Inc. bought a new position in shares of Level One Bancorp during the fourth quarter worth about $970,000. Geode Capital Management LLC raised its position in shares of Level One Bancorp by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 60,603 shares of the company’s stock worth $1,524,000 after acquiring an additional 2,006 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Level One Bancorp during the fourth quarter worth about $147,000. Bank of New York Mellon Corp raised its position in shares of Level One Bancorp by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 23,638 shares of the company’s stock worth $595,000 after acquiring an additional 732 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Level One Bancorp by 53.3% during the fourth quarter. UBS Group AG now owns 7,504 shares of the company’s stock worth $189,000 after acquiring an additional 2,608 shares during the last quarter. Institutional investors own 45.57% 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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