Level One Bancorp (NASDAQ:LEVL) Plans — Dividend of $0.04

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.

Level One Bancorp (NASDAQ:LEVL) last announced 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). Level One Bancorp had a net margin of 18.06% and a return on equity of 9.24%. The business had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $15.55 million. As a group, research analysts anticipate that Level One Bancorp will post 1.93 earnings per share for the current year.

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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Dividend History for Level One Bancorp (NASDAQ:LEVL)

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