$14.60 Million in Sales Expected for Level One Bancorp (LEVL) This Quarter

Brokerages expect Level One Bancorp (NASDAQ:LEVL) to announce $14.60 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Level One Bancorp’s earnings. The lowest sales estimate is $14.30 million and the highest is $14.90 million. The business is expected to report its next earnings results on Monday, October 29th.

According to Zacks, analysts expect that Level One Bancorp will report full year sales of $56.90 million for the current fiscal year, with estimates ranging from $56.40 million to $57.40 million. For the next fiscal year, analysts forecast that the business will post sales of $63.70 million, with estimates ranging from $63.00 million to $64.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Level One Bancorp.

Level One Bancorp (NASDAQ:LEVL) last announced its earnings results on Monday, July 30th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The firm had revenue of $13.87 million during the quarter, compared to analysts’ expectations of $14.35 million.

Separately, Zacks Investment Research upgraded shares of Level One Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th.

Shares of LEVL stock opened at $27.57 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10. Level One Bancorp has a one year low of $25.50 and a one year high of $30.79.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Sunday, September 30th will be issued a $0.03 dividend. The ex-dividend date is Thursday, September 27th. This represents a $0.12 annualized dividend and a dividend yield of 0.44%.

Several hedge funds have recently made changes to their positions in the company. Telemus Capital LLC purchased a new stake in shares of Level One Bancorp in the second quarter valued at about $272,000. Rehmann Capital Advisory Group bought a new position in Level One Bancorp during the second quarter valued at about $272,000. Raymond James & Associates bought a new position in Level One Bancorp during the second quarter valued at about $304,000. Northern Trust Corp bought a new position in Level One Bancorp during the second quarter valued at about $356,000. Finally, Clarkston Capital Partners LLC bought a new position in Level One Bancorp during the second quarter valued at about $408,000. Institutional investors own 36.91% of the company’s stock.

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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Earnings History and Estimates for Level One Bancorp (NASDAQ:LEVL)

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