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.

Level One Bancorp (NASDAQ:LEVL) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $15.55 million. Level One Bancorp had a net margin of 18.06% and a return on equity of 9.24%. Equities research analysts predict that Level One Bancorp will post 1.93 EPS for the current year.

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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Dividend History for Level One Bancorp (NASDAQ:LEVL)

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