Level One Bancorp Declares — Dividend of $0.04 (NASDAQ:LEVL)
Level One Bancorp (NASDAQ:LEVL) announced a — dividend on Friday, September 20th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.04 per share on Tuesday, October 15th. This represents a yield of 0.6%. The ex-dividend date of this dividend is Friday, September 27th.
Level One Bancorp has a dividend payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Level One Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.0%.
NASDAQ:LEVL traded down $0.85 on Friday, hitting $24.78. The stock had a trading volume of 112,380 shares, compared to its average volume of 11,665. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $200.84 million, a P/E ratio of 12.97 and a beta of 0.85. Level One Bancorp has a 1 year low of $20.89 and a 1 year high of $28.10. The firm’s fifty day simple moving average is $23.81 and its two-hundred day simple moving average is $23.88.
Several research firms have commented on LEVL. Raymond James decreased their price objective on shares of Level One Bancorp from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. ValuEngine lowered shares of Level One Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Level One Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Piper Jaffray Companies set a $25.00 price target on shares of Level One Bancorp and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Sandler O’Neill assumed coverage on shares of Level One Bancorp in a research note on Friday, June 7th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Level One Bancorp currently has a consensus rating of “Hold” and an average price target of $26.50.
In related news, Director James L. Bellinson purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $23.75 per share, for a total transaction of $118,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barbara E. Allushuski purchased 1,750 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of $23.59 per share, with a total value of $41,282.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 11,750 shares of company stock valued at $277,833. 37.90% of the stock is currently owned by company insiders.
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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