Brokerages expect that Level One Bancorp, Inc. (NASDAQ:LEVL) will post $26.00 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Level One Bancorp’s earnings. The highest sales estimate is $27.00 million and the lowest is $25.00 million. Level One Bancorp posted sales of $19.51 million during the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The company is expected to issue its next earnings results on Thursday, April 29th.
According to Zacks, analysts expect that Level One Bancorp will report full-year sales of $98.15 million for the current fiscal year, with estimates ranging from $97.00 million to $99.30 million. For the next year, analysts anticipate that the firm will report sales of $91.95 million, with estimates ranging from $88.90 million to $95.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Level One Bancorp.
Level One Bancorp (NASDAQ:LEVL) last issued its quarterly earnings results on Thursday, January 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.49. Level One Bancorp had a return on equity of 10.23% and a net margin of 16.07%. The firm had revenue of $27.22 million during the quarter, compared to the consensus estimate of $24.05 million.
LEVL has been the subject of several research analyst reports. Raymond James reiterated a “strong-buy” rating and issued a $30.00 price objective (up from $26.00) on shares of Level One Bancorp in a report on Wednesday, March 24th. Zacks Investment Research upgraded Level One Bancorp from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Saturday, January 9th.
Institutional investors have recently added to or reduced their stakes in the business. Venture Visionary Partners LLC bought a new stake in shares of Level One Bancorp during the 4th quarter valued at about $202,000. Banc Funds Co. LLC grew its stake in shares of Level One Bancorp by 61.7% during the 4th quarter. Banc Funds Co. LLC now owns 672,563 shares of the company’s stock valued at $13,606,000 after purchasing an additional 256,604 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Level One Bancorp by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 386,324 shares of the company’s stock valued at $7,815,000 after purchasing an additional 7,009 shares during the period. BlackRock Inc. grew its stake in shares of Level One Bancorp by 13.3% during the 4th quarter. BlackRock Inc. now owns 328,005 shares of the company’s stock valued at $6,636,000 after purchasing an additional 38,564 shares during the period. Finally, Morgan Stanley lifted its position in shares of Level One Bancorp by 74.8% during the 3rd quarter. Morgan Stanley now owns 10,917 shares of the company’s stock valued at $170,000 after buying an additional 4,672 shares in the last quarter. Institutional investors and hedge funds own 45.26% of the company’s stock.
NASDAQ LEVL traded down $0.22 during trading hours on Friday, hitting $24.23. The company’s stock had a trading volume of 430 shares, compared to its average volume of 26,008. Level One Bancorp has a 12 month low of $14.15 and a 12 month high of $28.77. The company’s 50 day simple moving average is $23.73 and its two-hundred day simple moving average is $20.28. The company has a market cap of $184.73 million, a P/E ratio of 11.37 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be paid a dividend of $0.06 per share. This is an increase from Level One Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, March 30th. Level One Bancorp’s payout ratio is currently 11.37%.
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. Its deposit products include checking accounts, NOW accounts, savings and other time deposits, certificates of deposit, and specialty deposit accounts. The company also provides lending products and related services comprising commercial real estate loans, including construction and land development loans; commercial and industrial loans consisting of lines of credit, term loans, and loans under the small business administration lending program; residential real estate loans; and consumer loans, including home equity loans automobile loans, and credit card services.
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