Bank7 Corp. (NASDAQ:BSVN) to Issue Quarterly Dividend of $0.24

Bank7 Corp. (NASDAQ:BSVN - Get Free Report) declared a quarterly dividend on Friday, June 6th, Wall Street Journal reports. Investors of record on Friday, June 20th will be given a dividend of 0.24 per share on Tuesday, July 8th. This represents a $0.96 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, June 20th.

Bank7 has raised its dividend payment by an average of 26.0% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Bank7 has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank7 to earn $4.12 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 23.3%.

Bank7 Stock Up 2.9%

Shares of NASDAQ BSVN traded up $1.10 during midday trading on Friday, hitting $39.44. 15,126 shares of the company's stock were exchanged, compared to its average volume of 24,529. The firm has a market capitalization of $372.67 million, a PE ratio of 8.13 and a beta of 1.07. Bank7 has a 12 month low of $27.84 and a 12 month high of $50.26. The company's 50 day moving average price is $37.27 and its 200 day moving average price is $41.29.

Bank7 (NASDAQ:BSVN - Get Free Report) last announced its quarterly earnings results on Thursday, April 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.11. Bank7 had a return on equity of 23.83% and a net margin of 32.00%. The business had revenue of $22.60 million during the quarter, compared to the consensus estimate of $22.58 million. During the same quarter last year, the firm posted $1.21 EPS. On average, equities research analysts anticipate that Bank7 will post 4.06 EPS for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Bank7 from $50.00 to $47.00 and set an "outperform" rating for the company in a report on Friday, April 11th.

Hedge Funds Weigh In On Bank7

A hedge fund recently raised its stake in Bank7 stock. Goldman Sachs Group Inc. grew its holdings in shares of Bank7 Corp. (NASDAQ:BSVN - Free Report) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,056 shares of the company's stock after purchasing an additional 3,145 shares during the period. Goldman Sachs Group Inc. owned about 0.32% of Bank7 worth $1,164,000 at the end of the most recent quarter. 23.48% of the stock is currently owned by institutional investors.

About Bank7

Bank7 Corp. operates as a bank holding company for Bank7 that provides banking and financial services to individual and corporate customers. It offers commercial deposit, commercial checking, money market, and other deposit accounts; and retail deposit services, such as certificates of deposit, money market accounts, checking accounts, negotiable order of withdrawal accounts, savings accounts, and automated teller machine access.

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