ValuEngine Downgrades Level One Bancorp (NASDAQ:LEVL) to Strong Sell

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Level One Bancorp (NASDAQ:LEVL) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research raised Level One Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.67.

Shares of NASDAQ LEVL opened at $21.00 on Wednesday. Level One Bancorp has a 12 month low of $13.44 and a 12 month high of $26.69. The company has a market cap of $125.22 million, a price-to-earnings ratio of 10.24 and a beta of 0.74. 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 business has a fifty day simple moving average of $22.77 and a 200-day simple moving average of $24.23.

Level One Bancorp (NASDAQ:LEVL) last announced its earnings results on Thursday, January 30th. The company reported $0.60 EPS 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 during the quarter, compared to the consensus estimate of $15.60 million. As a group, sell-side analysts expect that Level One Bancorp will post 2.4 EPS for the current fiscal year.

In other Level One Bancorp news, Director James L. Bellinson acquired 4,000 shares of Level One Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $24.69 per share, with a total value of $98,760.00. Also, Director Jacob W. Haas acquired 2,207 shares of Level One Bancorp stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $24.13 per share, with a total value of $53,254.91. Over the last three months, insiders purchased 14,000 shares of company stock valued at $347,800. Company insiders own 37.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. LSV Asset Management purchased a new stake in Level One Bancorp in the 4th quarter worth about $30,000. Tower Research Capital LLC TRC acquired a new position in Level One Bancorp in the 3rd quarter worth about $70,000. Strs Ohio increased its position in Level One Bancorp by 700.0% in the 4th quarter. Strs Ohio now owns 3,200 shares of the company’s stock worth $80,000 after purchasing an additional 2,800 shares during the last quarter. Barclays PLC increased its position in Level One Bancorp by 100.7% in the 4th quarter. Barclays PLC now owns 5,245 shares of the company’s stock worth $131,000 after purchasing an additional 2,632 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in Level One Bancorp in the 4th quarter worth about $147,000. 45.57% of the stock is owned by hedge funds and other institutional investors.

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. 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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