Level One Bancorp (LEVL) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Level One Bancorp (NASDAQ:LEVL) from a hold rating to a sell rating in a research report report published on Tuesday.
According to Zacks, “Level One Bancorp, Inc. provides banking services. Its product portfolio include lines of credit, term loans, leases, commercial mortgages, SBA loans, export-import financing, treasury management, private banking, personal savings, checking accounts and consumer loan. Level One Bancorp is based in Michigan. “
Shares of LEVL opened at $26.64 on Tuesday. Level One Bancorp has a 12 month low of $25.50 and a 12 month high of $30.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Sunday, September 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Thursday, September 27th.
A number of hedge funds have recently made changes to their positions in LEVL. Emerald Mutual Fund Advisers Trust acquired a new stake in Level One Bancorp in the second quarter valued at $5,359,000. Clarkston Capital Partners LLC lifted its stake in Level One Bancorp by 682.7% in the third quarter. Clarkston Capital Partners LLC now owns 117,401 shares of the company’s stock valued at $3,264,000 after acquiring an additional 102,401 shares during the last quarter. EJF Capital LLC acquired a new stake in Level One Bancorp in the second quarter valued at $2,718,000. Northpointe Capital LLC acquired a new stake in Level One Bancorp in the second quarter valued at $2,695,000. Finally, BlackRock Inc. acquired a new stake in Level One Bancorp in the second quarter valued at $1,973,000. Hedge funds and other institutional investors own 39.02% 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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