Level One Bancorp (NASDAQ:LEVL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $24.00 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.11% from the company’s current price.
According to Zacks, “Level One Bancorp, Inc. provides banking services. Its product portfolio include lines of credit, term loans, leases, commercial mortgages, SBA loans, export-import financing, treasury management, private banking, personal savings, checking accounts and consumer loan. Level One Bancorp is based in Michigan. “
Separately, ValuEngine cut Level One Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Level One Bancorp presently has a consensus rating of “Hold” and an average target price of $25.67.
Level One Bancorp stock opened at $21.60 on Wednesday. The stock has a market cap of $155.36 million, a P/E ratio of 10.54 and a beta of 0.74. Level One Bancorp has a fifty-two week low of $15.06 and a fifty-two week high of $26.69. The firm’s fifty day moving average price is $24.23 and its 200-day moving average price is $24.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93.
Level One Bancorp (NASDAQ:LEVL) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.17. The firm had revenue of $17.50 million for the quarter, compared to analysts’ expectations of $15.60 million. Level One Bancorp had a net margin of 19.03% and a return on equity of 10.20%. Sell-side analysts predict that Level One Bancorp will post 2.45 earnings per share for the current year.
In other news, Director Jacob W. Haas bought 4,793 shares of Level One Bancorp stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average price of $24.95 per share, with a total value of $119,585.35. Also, Director Jacob W. Haas bought 3,000 shares of Level One Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average cost of $25.40 per share, for a total transaction of $76,200.00. In the last three months, insiders purchased 14,000 shares of company stock worth $347,800. 37.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management bought a new position in Level One Bancorp in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC purchased a new stake in Level One Bancorp during the third quarter valued at about $70,000. Strs Ohio boosted its position in Level One Bancorp by 700.0% during the fourth quarter. Strs Ohio now owns 3,200 shares of the company’s stock valued at $80,000 after buying an additional 2,800 shares during the period. Barclays PLC boosted its position in Level One Bancorp by 100.7% during the fourth quarter. Barclays PLC now owns 5,245 shares of the company’s stock valued at $131,000 after buying an additional 2,632 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Level One Bancorp during the fourth quarter valued at about $147,000. 46.03% of the stock is currently owned by institutional investors and hedge funds.
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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