Level One Bancorp (NASDAQ:LEVL) declared a — dividend on Friday, September 20th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.04 per share on Tuesday, October 15th. This represents a dividend yield of 0.6%. The ex-dividend date is Friday, September 27th.
Level One Bancorp has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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%.
Shares of Level One Bancorp stock traded down $0.09 during trading hours on Wednesday, hitting $24.45. The company’s stock had a trading volume of 436 shares, compared to its average volume of 29,304. The business has a 50 day moving average price of $23.93 and a two-hundred day moving average price of $23.92. Level One Bancorp has a 12-month low of $20.89 and a 12-month high of $28.06. The company has a market cap of $191.56 million, a PE ratio of 12.75 and a beta of 0.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93.
In related news, Director James L. Bellinson acquired 5,000 shares of Level One Bancorp stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $23.56 per share, with a total value of $117,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara E. Allushuski acquired 1,750 shares of Level One Bancorp stock in a transaction on Tuesday, August 20th. The shares were bought at an average cost of $23.59 per share, for a total transaction of $41,282.50. The disclosure for this purchase can be found here. Insiders bought 11,750 shares of company stock worth $277,833 over the last ninety days. Insiders own 37.90% of the company’s stock.
LEVL has been the topic of several research analyst reports. Piper Jaffray Companies set a $25.00 price objective on Level One Bancorp and gave the company a “hold” rating in a research report on Wednesday, July 31st. Sandler O’Neill began coverage on Level One Bancorp in a report on Friday, June 7th. They issued a “hold” rating on the stock. Zacks Investment Research raised Level One Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Raymond James reduced their target price on Level One Bancorp from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Finally, ValuEngine cut Level One Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Level One Bancorp currently has an average rating of “Hold” and an average target price of $26.50.
About Level One Bancorp
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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