NasdaqGS:LEVL

Stock Analysis Report

Executive Summary

Level One Bancorp, Inc. operates as a bank holding company for Level One Bank that provides business and consumer financial services in Michigan.

Snowflake

Fundamentals

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

How has Level One Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

LEVL

2.7%

US Banks

0.5%

US Market


1 Year Return

-10.5%

LEVL

2.9%

US Banks

6.8%

US Market

Return vs Industry: LEVL underperformed the US Banks industry which returned 2.9% over the past year.

Return vs Market: LEVL underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

LEVLIndustryMarket
7 Day0%2.7%0.5%
30 Day-1.3%1.1%-0.8%
90 Day5.0%2.7%-0.9%
1 Year-10.0%-10.5%5.8%2.9%9.2%6.8%
3 Yearn/a52.0%41.5%45.6%36.2%
5 Yearn/a69.2%50.7%63.2%45.4%

Price Volatility Vs. Market

How volatile is Level One Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Level One Bancorp undervalued compared to its fair value and its price relative to the market?

13.28x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: LEVL ($24.46) is trading above our estimate of fair value ($16.24)

Significantly Below Fair Value: LEVL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LEVL is poor value based on its PE Ratio (13.3x) compared to the Banks industry average (12.5x).

PE vs Market: LEVL is good value based on its PE Ratio (13.3x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: LEVL is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: LEVL is good value based on its PB Ratio (1.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Level One Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

15.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LEVL's forecast earnings growth (15.8% per year) is above the savings rate (2.7%).

Earnings vs Market: LEVL's earnings (15.8% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: LEVL's earnings are forecast to grow, but not significantly.

Revenue vs Market: LEVL's revenue (13.9% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: LEVL's revenue (13.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LEVL's Return on Equity is forecast to be low in 3 years time (10.7%).


Next Steps

Past Performance

How has Level One Bancorp performed over the past 5 years?

17.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: LEVL's earnings have grown by 17.2% per year over the past 5 years.

Accelerating Growth: LEVL's earnings growth over the past year (29.4%) exceeds its 5-year average (17.2% per year).

Earnings vs Industry: LEVL earnings growth over the past year (29.4%) underperformed the Banks industry 29.7%.


Return on Equity

High ROE: LEVL's Return on Equity (8.7%) is considered low.


Return on Assets

ROA vs Industry: LEVL's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate LEVL's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Level One Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: LEVL has a low level of unsold assets or inventory.

Debt Coverage by Assets: LEVL's debt is not covered by short term assets (assets are 0.8x debt).


Financial Institutions Analysis

Asset Level: LEVL's level of assets compared to its equity is low.

Allowance for Bad Loans: LEVL has a low allowance for bad loans.

Low Risk Liabilities: LEVL's liabilities are made up of primarily low risk sources of funding.

Loan Level: LEVL has an acceptable proportion of non-loan assets held.

Low Risk Deposits: LEVL's loans are broadly funded by customer deposits.

Level of Bad Loans: LEVL has an appropriate level of bad loans (1.25%)


Next Steps

Dividend

What is Level One Bancorp's current dividend yield, its reliability and sustainability?

0.65%

Current Dividend Yield


Dividend Yield vs Market

company0.7%marketbottom25%1.4%markettop25%3.7%industryaverage3.0%forecastin3Years0.7%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: LEVL's dividend (0.65%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: LEVL's dividend (0.65%) is low compared to the top 25% of dividend payers in the US market (3.73%).

Stable Dividend: LEVL is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: LEVL is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: LEVL is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LEVL's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Level One Bancorp's salary, the management and board of directors tenure and is there insider trading?

11.3yrs

Average management tenure


CEO

Patrick Fehring (61yo)

12.3yrs

Tenure

US$574,276

Compensation

Mr. Patrick J. Fehring, Jr., is Chairman, President and Chief Executive Officer of Level One Bank since 2007. Mr. Fehring has been Chairman, President and Chief Executive Officer since June 2007 of Level O ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Patrick's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.


Management Age and Tenure

11.3yrs

Average Tenure

57yo

Average Age

Experienced Management: LEVL's management team is seasoned and experienced (11.3 years average tenure).


Board Age and Tenure

11.8yrs

Average Tenure

60yo

Average Age

Experienced Board: LEVL's board of directors are seasoned and experienced ( 11.8 years average tenure).


Insider Trading

Insider Buying: LEVL insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$118,75027 Aug 19
James Bellinson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$23.75
BuyUS$41,28321 Aug 19
Barbara Allushuski
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,750
Max PriceUS$23.59
BuyUS$117,79619 Aug 19
James Bellinson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,000
Max PriceUS$23.65
BuyUS$97,21408 Aug 19
James Bellinson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,674
Max PriceUS$26.46
BuyUS$107,60814 Jun 19
James Bellinson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares4,487
Max PriceUS$24.00
BuyUS$47,77112 Mar 19
Stefan Wanczyk
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,077
Max PriceUS$23.00
SellUS$132,19915 Feb 19
Gregory Wernette
EntityIndividual
Role
Secretary
Executive VP
Shares5,500
Max PriceUS$24.04
BuyUS$47,71715 Feb 19
James Bellinson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$23.91
BuyUS$214,07428 Nov 18
James Bellinson
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares8,114
Max PriceUS$26.45

Ownership Breakdown


Management Team

  • Patrick Fehring (61yo)

    Chairman

    • Tenure: 12.3yrs
    • Compensation: US$574.28k
  • Peter Root

    Investor Relations Contact

    • Tenure: 0yrs
  • Dave Walker (58yo)

    Executive VP & CFO

    • Tenure: 10.2yrs
    • Compensation: US$337.64k
  • Greg Wernette (56yo)

    Executive VP

    • Tenure: 12.8yrs
    • Compensation: US$364.16k
  • Tim Mackay (49yo)

    Assistant Corporate Secretary

    • Tenure: 6.8yrs
  • Eva Scurlock (41yo)

    Assistant Corporate Secretary

    • Tenure: 12.8yrs
  • Lani Barrett (60yo)

    Executive VP & Chief Human Resources Officer

    • Tenure: 1.8yrs
  • Barbara Felts

    Controller

    • Tenure: 0yrs

Board Members

  • Patrick Fehring (61yo)

    Chairman

    • Tenure: 12.3yrs
    • Compensation: US$574.28k
  • Stefan Wanczyk (58yo)

    Independent Director

    • Tenure: 9.8yrs
    • Compensation: US$40.50k
  • James Bellinson (59yo)

    Independent Director

    • Tenure: 12.8yrs
    • Compensation: US$40.50k
  • Michael Brillati (44yo)

    Independent Director

    • Tenure: 11.8yrs
    • Compensation: US$41.49k
  • Thomas Fabbri (66yo)

    Independent Director

    • Tenure: 12.8yrs
    • Compensation: US$38.99k
  • Mark Herman (64yo)

    Independent Director

    • Tenure: 12.8yrs
    • Compensation: US$39.74k
  • Shukri David (60yo)

    Lead Director

    • Tenure: 0yrs
    • Compensation: US$39.99k
  • Barbara Allushuski (67yo)

    Independent Director

    • Tenure: 9.8yrs
    • Compensation: US$38.99k
  • Victor Ansara (60yo)

    Independent Director

    • Tenure: 11.8yrs
    • Compensation: US$41.49k
  • Steven Rivera (56yo)

    Independent Director

    • Tenure: 11.8yrs
    • Compensation: US$38.49k

Company Information

Level One Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Level One Bancorp, Inc.
  • Ticker: LEVL
  • Exchange: NasdaqGS
  • Founded: 2007
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$189.089m
  • Shares outstanding: 7.73m
  • Website: https://www.levelonebank.com

Number of Employees


Location

  • Level One Bancorp, Inc.
  • 32991 Hamilton Court
  • Farmington Hills
  • Michigan
  • 48334
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LEVLNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 2018

Biography

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 a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 00:50
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.