Wesbanco Bank Inc. decreased its position in Level One Bancorp (NASDAQ:LEVL) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after selling 10,000 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.39% of Level One Bancorp worth $673,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LEVL. Clarkston Capital Partners LLC grew its stake in shares of Level One Bancorp by 3.5% in the fourth quarter. Clarkston Capital Partners LLC now owns 121,529 shares of the company’s stock worth $2,726,000 after acquiring an additional 4,128 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Level One Bancorp in the third quarter worth about $162,000. Vanguard Group Inc. raised its stake in shares of Level One Bancorp by 85.6% in the third quarter. Vanguard Group Inc. now owns 18,853 shares of the company’s stock worth $524,000 after buying an additional 8,695 shares during the period. Vanguard Group Inc raised its stake in shares of Level One Bancorp by 85.6% in the third quarter. Vanguard Group Inc now owns 18,853 shares of the company’s stock worth $524,000 after buying an additional 8,695 shares during the period. Finally, Raymond James & Associates bought a new position in shares of Level One Bancorp in the second quarter worth about $304,000. Institutional investors and hedge funds own 41.07% of the company’s stock.
Several research analysts have recently commented on LEVL shares. ValuEngine downgraded Level One Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. Zacks Investment Research downgraded Level One Bancorp from a “hold” rating to a “sell” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $32.00.
Level One Bancorp (NASDAQ:LEVL) last released its quarterly earnings results on Wednesday, January 30th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $15.12 million during the quarter, compared to analysts’ expectations of $15.20 million. Level One Bancorp had a return on equity of 10.81% and a net margin of 20.30%. Equities research analysts predict that Level One Bancorp will post 2.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, December 28th. Level One Bancorp’s dividend payout ratio is presently 6.28%.
In other news, Director James L. Bellinson purchased 8,114 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was acquired at an average price of $26.38 per share, for a total transaction of $214,047.32. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
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Level One Bancorp 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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