Bank7 (NASDAQ:BSVN) Releases Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Bank7 reported earnings of $1.13 per share for the quarter, which exceeded analyst expectations by $0.10.
• The company announced a quarterly dividend of $0.27 per share, reflecting an annualized dividend yield of 2.4%.
• Several analysts have provided mixed ratings on Bank7, with Piper Sandler upgrading the stock to an "overweight" rating and Zacks downgrading it to "hold".

Bank7 (NASDAQ:BSVN - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.10, Zacks reports. Bank7 had a net margin of 31.99% and a return on equity of 20.36%.

Bank7 Trading Up 3.1%

Bank7 stock opened at $45.33 on Wednesday. The firm has a market capitalization of $428.37 million, a P/E ratio of 9.77 and a beta of 1.13. Bank7 has a 1 year low of $32.49 and a 1 year high of $50.26. The business has a 50-day moving average of $47.08 and a 200-day moving average of $42.45.

Bank7 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Friday, September 19th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, September 19th. Bank7's payout ratio is presently 23.28%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BSVN shares. Piper Sandler increased their target price on shares of Bank7 from $50.50 to $55.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Zacks Research downgraded Bank7 from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Keefe, Bruyette & Woods lifted their price target on shares of Bank7 from $47.00 to $52.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Bank7 in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.50.

Insider Activity

In related news, VP Jason E. Estes sold 1,879 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $47.58, for a total value of $89,402.82. Following the completion of the transaction, the vice president directly owned 75,961 shares in the company, valued at approximately $3,614,224.38. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas L. Travis sold 13,084 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $49.36, for a total value of $645,826.24. Following the transaction, the chief executive officer directly owned 286,293 shares of the company's stock, valued at approximately $14,131,422.48. This trade represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,416 shares of company stock valued at $806,150 over the last 90 days. Corporate insiders own 41.92% of the company's stock.

Institutional Investors Weigh In On Bank7

A number of institutional investors and hedge funds have recently made changes to their positions in BSVN. Invesco Ltd. bought a new stake in shares of Bank7 during the 2nd quarter worth approximately $2,803,000. Raymond James Financial Inc. bought a new stake in Bank7 in the 2nd quarter valued at $273,000. AQR Capital Management LLC bought a new stake in Bank7 in the 1st quarter valued at $227,000. Russell Investments Group Ltd. raised its stake in Bank7 by 13.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 28,829 shares of the company's stock valued at $1,206,000 after acquiring an additional 3,378 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Bank7 by 11.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,056 shares of the company's stock valued at $1,164,000 after acquiring an additional 3,145 shares during the period. Institutional investors own 23.48% of the company's stock.

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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