Level One Bancorp Declares Quarterly Dividend of $0.04 (NASDAQ:LEVL)

Level One Bancorp (NASDAQ:LEVL) declared a quarterly dividend on Thursday, June 20th, Fidelity reports. Stockholders of record on Sunday, June 30th will be given a dividend of 0.04 per share on Monday, July 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, June 27th.

Level One Bancorp has a payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Level One Bancorp to earn $2.23 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 7.2%.

Shares of Level One Bancorp stock traded down $0.88 during trading on Tuesday, hitting $23.43. 5,548 shares of the stock were exchanged, compared to its average volume of 6,069. The firm has a market cap of $188.43 million, a PE ratio of 12.27 and a beta of 0.81. The stock has a fifty day moving average of $24.13. Level One Bancorp has a 1-year low of $20.89 and a 1-year high of $28.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.92.

Level One Bancorp (NASDAQ:LEVL) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $19.73 million for the quarter, compared to analyst estimates of $14.90 million. Level One Bancorp had a net margin of 19.72% and a return on equity of 9.84%. Equities research analysts expect that Level One Bancorp will post 1.99 earnings per share for the current fiscal year.

LEVL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Level One Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine lowered shares of Level One Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 9th. Finally, Sandler O’Neill initiated coverage on shares of Level One Bancorp in a research note on Friday, June 7th. They set a “hold” rating on the stock.

In related news, Director James L. Bellinson bought 4,487 shares of Level One Bancorp stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $23.98 per share, with a total value of $107,598.26. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 37.90% of the stock is owned by 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.

See Also: Cost of Equity

Dividend History for Level One Bancorp (NASDAQ:LEVL)

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