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.
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.
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