Wall Street brokerages forecast that Level One Bancorp (NASDAQ:LEVL) will announce $25.15 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Level One Bancorp’s earnings, with estimates ranging from $24.30 million to $26.00 million. Level One Bancorp posted sales of $16.85 million in the same quarter last year, which suggests a positive year over year growth rate of 49.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 4th.
On average, analysts expect that Level One Bancorp will report full year sales of $94.10 million for the current financial year, with estimates ranging from $90.20 million to $98.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $89.05 million, with estimates ranging from $87.00 million to $91.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Level One Bancorp.
Level One Bancorp (NASDAQ:LEVL) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). Level One Bancorp had a return on equity of 10.18% and a net margin of 16.50%. The firm had revenue of $24.02 million during the quarter, compared to analysts’ expectations of $21.00 million.
Shares of NASDAQ:LEVL opened at $16.05 on Thursday. Level One Bancorp has a 52-week low of $13.44 and a 52-week high of $25.78. The stock has a market cap of $124.13 million, a price-to-earnings ratio of 7.87 and a beta of 0.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $16.02 and a 200-day moving average price of $16.79.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, September 29th. Level One Bancorp’s dividend payout ratio is currently 9.48%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Zhang Financial LLC acquired a new stake in Level One Bancorp in the third quarter valued at approximately $289,000. EJF Capital LLC acquired a new stake in Level One Bancorp in the second quarter valued at approximately $1,149,000. Bank of America Corp DE grew its holdings in Level One Bancorp by 37.5% in the second quarter. Bank of America Corp DE now owns 3,908 shares of the company’s stock valued at $65,000 after purchasing an additional 1,066 shares during the period. State Street Corp grew its holdings in Level One Bancorp by 5.0% in the first quarter. State Street Corp now owns 83,180 shares of the company’s stock valued at $1,501,000 after purchasing an additional 3,925 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Level One Bancorp in the first quarter worth approximately $89,000. 45.27% of the stock is currently owned by institutional investors.
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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