Zacks Investment Research Lowers Level One Bancorp (NASDAQ:LEVL) to Strong Sell
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. “
A number of other research analysts have also commented on the company. Raymond James restated a buy rating and issued a $21.00 target price on shares of Level One Bancorp in a research note on Tuesday, September 8th. ValuEngine lowered Level One Bancorp from a sell rating to a strong sell rating in a research note on Thursday, June 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $20.33.
Level One Bancorp (NASDAQ:LEVL) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). Level One Bancorp had a return on equity of 10.18% and a net margin of 16.50%. The business had revenue of $24.02 million for the quarter, compared to analyst estimates of $21.00 million. As a group, equities analysts predict that Level One Bancorp will post 2.42 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. EJF Capital LLC acquired a new position in Level One Bancorp during the second quarter worth $1,149,000. Bank of America Corp DE raised its stake in Level One Bancorp by 37.5% during the second quarter. Bank of America Corp DE now owns 3,908 shares of the company’s stock worth $65,000 after acquiring an additional 1,066 shares in the last quarter. State Street Corp raised its stake in Level One Bancorp by 5.0% during the first quarter. State Street Corp now owns 83,180 shares of the company’s stock worth $1,501,000 after acquiring an additional 3,925 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Level One Bancorp during the first quarter worth $89,000. Finally, Geode Capital Management LLC raised its stake in Level One Bancorp by 5.5% during the first quarter. Geode Capital Management LLC now owns 63,957 shares of the company’s stock worth $1,151,000 after acquiring an additional 3,354 shares in the last quarter. Hedge funds and other institutional investors own 45.27% of the company’s stock.
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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