Level One Bancorp (NASDAQ:LEVL) Cut to Sell at ValuEngine

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

Separately, Zacks Investment Research upgraded Level One Bancorp from a sell rating to a hold rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $27.00.

Shares of LEVL stock traded down $0.06 on Thursday, hitting $24.77. 2,988 shares of the company’s stock were exchanged, compared to its average volume of 4,425. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.93. Level One Bancorp has a 12 month low of $22.20 and a 12 month high of $26.69. The stock has a market cap of $191.18 million, a P/E ratio of 12.70 and a beta of 0.87. The company has a 50 day moving average of $25.14 and a 200 day moving average of $24.37.

Level One Bancorp (NASDAQ:LEVL) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. Level One Bancorp had a return on equity of 9.79% and a net margin of 18.75%. The business had revenue of $16.85 million during the quarter, compared to the consensus estimate of $16.69 million. Sell-side analysts predict that Level One Bancorp will post 1.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.04 per share. The ex-dividend date was Monday, December 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. Level One Bancorp’s dividend payout ratio is currently 8.38%.

Several hedge funds have recently made changes to their positions in LEVL. First Trust Advisors LP bought a new stake in shares of Level One Bancorp during the 3rd quarter worth $245,000. Vanguard Group Inc. lifted its position in shares of Level One Bancorp by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 138,910 shares of the company’s stock worth $3,471,000 after buying an additional 7,793 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Level One Bancorp by 129.9% during the 2nd quarter. Wells Fargo & Company MN now owns 11,965 shares of the company’s stock worth $299,000 after buying an additional 6,760 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Level One Bancorp during the 3rd quarter worth $70,000. Finally, Strs Ohio lifted its position in shares of Level One Bancorp by 700.0% during the 4th quarter. Strs Ohio now owns 3,200 shares of the company’s stock worth $80,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 44.94% 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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