Level One Bancorp (NASDAQ:LEVL) Lifted to B- at TheStreet


Share on StockTwits

TheStreet upgraded shares of Level One Bancorp (NASDAQ:LEVL) from a c- rating to a b- rating in a report released on Monday, TheStreetRatingsTable reports.

Other analysts have also issued research reports about the stock. Raymond James restated a strong-buy rating and issued a $30.00 price target (up previously from $26.00) on shares of Level One Bancorp in a research note on Wednesday, March 24th. Zacks Investment Research raised shares of Level One Bancorp from a hold rating to a strong-buy rating and set a $24.00 target price for the company in a research report on Saturday, January 9th.

Shares of LEVL opened at $25.97 on Monday. The stock’s 50-day moving average is $24.73 and its two-hundred day moving average is $21.01. The stock has a market cap of $198.00 million, a PE ratio of 12.08 and a beta of 0.94. Level One Bancorp has a 12 month low of $14.15 and a 12 month high of $28.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.93.

Level One Bancorp (NASDAQ:LEVL) last announced its earnings results on Thursday, January 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.49. The business had revenue of $27.22 million for the quarter, compared to analyst estimates of $24.05 million. Level One Bancorp had a return on equity of 10.23% and a net margin of 16.07%. On average, research analysts anticipate that Level One Bancorp will post 2.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were given a dividend of $0.06 per share. This is a positive change from Level One Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, March 30th. Level One Bancorp’s dividend payout ratio is currently 11.37%.

A number of institutional investors have recently added to or reduced their stakes in LEVL. Barclays PLC increased its stake in Level One Bancorp by 77.0% during the fourth quarter. Barclays PLC now owns 10,214 shares of the company’s stock valued at $206,000 after purchasing an additional 4,442 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Level One Bancorp by 74.8% in 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 during the period. The Manufacturers Life Insurance Company grew its position 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 buying an additional 7,009 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Level One Bancorp in the first quarter worth about $235,000. Finally, Venture Visionary Partners LLC bought a new position in shares of Level One Bancorp during the fourth quarter valued at approximately $202,000. 45.26% of the stock is owned by hedge funds and other institutional investors.

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. Its deposit products include checking, interest-bearing demand, money market, savings, and term certificate 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.

Featured Story: S&P/TSX Index

Receive News & Ratings for Level One Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level One Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.