Zacks: Analysts Set $32.00 Target Price for Level One Bancorp (LEVL)

Level One Bancorp (NASDAQ:LEVL) has been assigned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have assigned a buy recommendation to the company.

Brokers have set a twelve-month consensus target price of $32.00 for the company and are predicting that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also assigned Level One Bancorp an industry rank of 109 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research downgraded Level One Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th.

Shares of NASDAQ:LEVL opened at $28.05 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 0.94. Level One Bancorp has a 52-week low of $25.50 and a 52-week high of $30.79.

Level One Bancorp (NASDAQ:LEVL) last announced its quarterly earnings results on Monday, July 30th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm had revenue of $13.87 million during the quarter, compared to the consensus estimate of $14.35 million. equities analysts predict that Level One Bancorp will post 1.93 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Telemus Capital LLC purchased a new stake in shares of Level One Bancorp during the second quarter valued at approximately $272,000. Raymond James & Associates purchased a new stake in shares of Level One Bancorp during the second quarter valued at approximately $304,000. Clarkston Capital Partners LLC purchased a new stake in shares of Level One Bancorp during the second quarter valued at approximately $408,000. FSI Group LLC purchased a new stake in shares of Level One Bancorp during the second quarter valued at approximately $1,035,000. Finally, Wesbanco Bank Inc. purchased a new stake in shares of Level One Bancorp during the second quarter valued at approximately $1,087,000. 36.78% of the stock is owned by hedge funds and other 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.

Featured Article: Short Selling Stocks, A Beginner’s Guide

Get a free copy of the Zacks research report on Level One Bancorp (LEVL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Level One Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level One Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply