Bank of New York Mellon Corp Acquires New Position in Bank7 Corp. $BSVN

Key Points

• Bank of New York Mellon initiated a position in Bank7, purchasing 25,681 shares worth approximately $1.26 million, or 0.27% of the company. Institutional investors collectively own 23.48% of Bank7.
• Bank7 reported quarterly EPS of $0.87, below the $1.03 analyst consensus, while revenue of $22.91 million also missed expectations. The company’s shares opened at $54.64, near their 52-week high of $57.67.
• Bank7 raised its quarterly dividend to $0.30 from $0.27, representing an annualized payout of $1.20 and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $58.50.

Bank of New York Mellon Corp bought a new position in shares of Bank7 Corp. (NASDAQ:BSVN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,681 shares of the company's stock, valued at approximately $1,257,000. Bank of New York Mellon Corp owned 0.27% of Bank7 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BSVN. PNC Financial Services Group Inc. increased its stake in shares of Bank7 by 60.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,604 shares of the company's stock worth $64,000 after purchasing an additional 604 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Bank7 by 30.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,812 shares of the company's stock worth $84,000 after buying an additional 420 shares during the period. Wells Fargo & Company MN boosted its holdings in Bank7 by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,763 shares of the company's stock worth $195,000 after buying an additional 1,540 shares during the period. Zacks Investment Management purchased a new stake in Bank7 in the 4th quarter worth $202,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Bank7 in the 3rd quarter worth $213,000. Hedge funds and other institutional investors own 23.48% of the company's stock.

Bank7 Price Performance

NASDAQ:BSVN opened at $54.64 on Thursday. The company has a market cap of $520.72 million, a price-to-earnings ratio of 12.50 and a beta of 0.87. Bank7 Corp. has a 1 year low of $38.29 and a 1 year high of $57.67. The stock's 50 day simple moving average is $51.34 and its two-hundred day simple moving average is $45.97.

Bank7 (NASDAQ:BSVN - Get Free Report) last released its quarterly 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). Bank7 had a net margin of 30.36% and a return on equity of 16.48%. The business had revenue of $22.91 million for the quarter, compared to analysts' expectations of $23.86 million. As a group, analysts anticipate that Bank7 Corp. will post 4.26 EPS for the current year.

Bank7 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Friday, September 18th will be issued a $0.30 dividend. This is a positive change from Bank7's previous quarterly dividend of $0.27. The ex-dividend date is Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. Bank7's dividend payout ratio (DPR) is presently 24.71%.

Insider Activity at Bank7

In other news, VP Jason Estes sold 3,225 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $49.51, for a total transaction of $159,669.75. Following the transaction, the vice president owned 101,898 shares of the company's stock, valued at approximately $5,044,969.98. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 5,702 shares of company stock valued at $284,373. 25.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BSVN has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Bank7 from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Weiss Ratings upgraded Bank7 from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, June 12th. Keefe, Bruyette & Woods increased their target price on Bank7 from $54.00 to $56.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Finally, Zacks Research lowered shares of Bank7 from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Bank7 presently has an average rating of "Moderate Buy" and a consensus target price 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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