Bank7 Corp. (NASDAQ:BSVN) to Issue Dividend Increase - $0.30 Per Share

Key Points

• Bank7 raised its quarterly dividend 11.1%, from $0.27 to $0.30 per share. The dividend is payable October 8 to shareholders of record on September 18, representing a 2.3% annualized yield.
• The dividend appears well covered, with a 26.5% payout ratio and an expected forward payout ratio of 23.7%. Bank7 has increased its dividend for five consecutive years.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $58.50, although the company’s latest quarterly EPS of $0.87 fell short of the $1.03 consensus estimate.

Bank7 Corp. (NASDAQ:BSVN - Get Free Report) announced a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 18th will be paid a dividend of 0.30 per share on Thursday, October 8th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, September 18th. This is a 11.1% increase from Bank7's previous quarterly dividend of $0.27.

Bank7 has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 5 years. Bank7 has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank7 to earn $4.55 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 23.7%.

Bank7 Stock Up 0.7%

NASDAQ:BSVN traded up $0.36 during midday trading on Thursday, reaching $51.76. The stock had a trading volume of 109,852 shares, compared to its average volume of 18,415. The stock has a market cap of $493.27 million, a P/E ratio of 11.84 and a beta of 0.90. The firm has a fifty day simple moving average of $49.53 and a two-hundred day simple moving average of $45.08. Bank7 has a 12-month low of $38.29 and a 12-month high of $55.41.

Bank7 (NASDAQ:BSVN - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $1.03 by ($0.16). The firm had revenue of $22.91 million for the quarter, compared to analysts' expectations of $23.86 million. Bank7 had a return on equity of 16.48% and a net margin of 30.36%. On average, sell-side analysts anticipate that Bank7 will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on BSVN. Piper Sandler raised their price objective on shares of Bank7 from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Zacks Research cut Bank7 from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 15th. Keefe, Bruyette & Woods raised their price target on Bank7 from $54.00 to $56.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Finally, Weiss Ratings raised Bank7 from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

Bank7 Company Profile

Bank7 Corporation, through its subsidiary Bank7, National Association, is a regional banking organization that offers a full range of deposit and lending products to both consumer and commercial clients. Its deposit offerings include checking and savings accounts, money market funds and certificates of deposit, while its lending portfolio encompasses residential and commercial real estate loans, small business loans and consumer credit products.

Complementing its core banking services, Bank7 provides digital banking solutions such as online and mobile platforms for account management, bill payment and remote check deposit.

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