Level One Bancorp, Inc. (NASDAQ:LEVL – Get Rating) announced a quarterly dividend on Wednesday, March 16, Zacks reports. Investors of record on Thursday March 31 will receive a dividend of 0.07 per share on Friday April 15. This represents a dividend of $0.28 on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, March 30. This is an increase from Level One Bancorp’s previous quarterly dividend of $0.06.
Level One Bancorp has increased its dividend payout by 38.7% over the past three years and has increased its dividend annually for the past 2 consecutive years. Level One Bancorp has a dividend payout ratio of 7.3%, which means its dividend is sufficiently covered by earnings. Analysts expect Level One Bancorp to earn $3.20 per share next year, meaning the company should continue to be able to cover its $0.24 annual dividend with a payout ratio. expected future of 7.5%.
LEVL opened at $41.41 on Friday. Level One Bancorp has a 12-month low of $23.14 and a 12-month high of $42.63. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt ratio of 0.14. The company has a fifty-day moving average of $40.89. The company has a market capitalization of $322.58 million, a PE ratio of 10.48 and a beta of 0.79.
Level One Bancorp (NASDAQ:LEVL – Get Rating) last reported results on Friday, January 28. The company reported earnings per share (EPS) of $0.85 for the quarter, missing Thomson Reuters consensus estimate of $1.09 per ($0.24). Level One Bancorp had a net margin of 29.28% and a return on equity of 15.51%. As a group, equity research analysts expect Level One Bancorp to post 3.1 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of LEVL. Morgan Stanley increased its position in shares of Level One Bancorp by 2.8% during the second quarter. Morgan Stanley now owns 16,192 shares of the company valued at $443,000 after buying 443 additional shares in the last quarter. Alliancebernstein LP increased its stake in Level One Bancorp by 1.6% in the fourth quarter. Alliancebernstein LP now owns 133,477 shares of the company valued at $5,264,000 after purchasing an additional 2,051 shares last quarter. JPMorgan Chase & Co. increased its holdings in Level One Bancorp by 834.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,185 shares of the company valued at $125,000 after buying 2,844 additional shares last quarter. State Street Corp increased its stake in Level One Bancorp by 26.6% during the fourth quarter. State Street Corp now owns 13,802 shares of the company valued at $545,000 after purchasing an additional 2,900 shares during the period. Finally, Citigroup Inc. bought a new position in shares of Level One Bancorp during Q4 valued at around $124,000. 46.96% of the shares are held by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Level One Bancorp from a “sell” rating to a “hold” rating in a Wednesday, March 2 research report.
About Level One Bancorp (Get a rating)
Level One Bancorp, Inc operates as a bank holding company. The company engages in the provision of banking services to businesses and individuals. It offers commercial real estate loans, commercial and industrial loans, residential real estate loans and consumer loans. The company was founded by Patrick J. Fehring in 2006 and is based in Farmington Hills, MI.
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