Bank of America Corp DE Makes New $909,000 Investment in Bank7 Corp. $BSVN

Key Points

• Bank of America initiated a $909,000 position in Bank7 during the second quarter, purchasing 18,571 shares and owning approximately 0.19% of the company. Several other institutions also established positions, bringing institutional ownership to 23.48%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $61.67, despite one downgrade to “strong sell.” Bank7 recently traded at $55.48.
• Bank7 increased its quarterly dividend from $0.27 to $0.30 per share, equal to a $1.20 annualized payout and a 2.2% yield. Its latest quarterly earnings of $0.87 per share fell short of the $1.03 analyst consensus.

Bank of America Corp DE purchased a new position in Bank7 Corp. (NASDAQ:BSVN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,571 shares of the company's stock, valued at approximately $909,000. Bank of America Corp DE owned about 0.19% of Bank7 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hsbc Holdings PLC acquired a new position in Bank7 in the second quarter valued at approximately $1,534,000. The Manufacturers Life Insurance Company bought a new position in shares of Bank7 in the second quarter worth $13,441,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bank7 during the 2nd quarter valued at about $2,186,000. Globeflex Capital L P acquired a new stake in shares of Bank7 in the 2nd quarter worth approximately $159,000. Finally, BlackRock Inc. acquired a new stake in Bank7 in the second quarter worth approximately $28,930,000. 23.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BSVN shares. Royal Bank Of Canada set a $62.00 price objective on Bank7 in a research note on Wednesday, September 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank7 in a report on Wednesday, September 9th. Keefe, Bruyette & Woods boosted their price target on shares of Bank7 from $56.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 23rd. Zacks Research downgraded shares of Bank7 from a "hold" rating to a "strong sell" rating in a report on Friday, September 25th. Finally, 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. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $61.67.

Insider Activity at Bank7

In other news, VP Jason Estes sold 3,225 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $49.51, for a total value of $159,669.75. Following the completion of the sale, the vice president directly owned 101,898 shares of the company's stock, valued at approximately $5,044,969.98. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,702 shares of company stock worth $284,373 in the last three months. 25.71% of the stock is owned by insiders.

Bank7 Trading Up 0.9%

Shares of Bank7 stock opened at $55.48 on Friday. The firm has a fifty day simple moving average of $52.92 and a 200-day simple moving average of $47.58. Bank7 Corp. has a 1-year low of $38.29 and a 1-year high of $57.67. The stock has a market capitalization of $528.72 million, a price-to-earnings ratio of 12.70 and a beta of 0.85.

Bank7 (NASDAQ:BSVN - Get Free Report) last posted its earnings results on Thursday, July 16th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.16). The firm had revenue of $22.91 million during the quarter, compared to analyst estimates of $23.86 million. Bank7 had a net margin of 30.36% and a return on equity of 16.48%. As a group, research analysts predict that Bank7 Corp. will post 3.99 earnings per share for the current year.

Bank7 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Friday, September 18th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.20 annualized dividend and a yield of 2.2%. This is an increase from Bank7's previous quarterly dividend of $0.27. Bank7's dividend payout ratio (DPR) is presently 27.46%.

About Bank7

Bank7 is the principal banking subsidiary of Bank7 Corp., a full-service commercial bank headquartered in Oklahoma City, Oklahoma. The company provides banking services to businesses, professionals and individual customers, with an emphasis on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, certificates of deposit, treasury management and other cash-management solutions. Bank7 also offers commercial real estate, commercial and industrial, energy, construction, residential mortgage and consumer loans.

Bank7 primarily serves customers in Oklahoma and selected surrounding markets.

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