BlackRock Inc. Takes $28.93 Million Position in Bank7 Corp. $BSVN

Key Points

• BlackRock acquired a 6.21% stake in Bank7, purchasing 591,019 shares valued at approximately $28.93 million. Institutional investors and hedge funds collectively own 23.48% of the company.
• Analysts maintain a generally positive outlook, with three Buy ratings and one Hold rating. Bank7 has a consensus “Moderate Buy” rating and an average price target of $58.50.
• Bank7 increased its quarterly dividend to $0.30 per share, equivalent to an annualized dividend of $1.20 and a 2.3% yield, despite the company’s latest earnings and revenue falling short of analyst estimates.

BlackRock Inc. acquired a new position in shares of Bank7 Corp. (NASDAQ:BSVN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 591,019 shares of the company's stock, valued at approximately $28,930,000. BlackRock Inc. owned approximately 6.21% of Bank7 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in Bank7 during the 1st quarter valued at $475,000. Sei Investments Co. grew its stake in shares of Bank7 by 91.2% in the 1st quarter. Sei Investments Co. now owns 41,174 shares of the company's stock worth $1,642,000 after acquiring an additional 19,641 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Bank7 in the 3rd quarter worth $213,000. Zacks Investment Management purchased a new stake in shares of Bank7 in the fourth quarter valued at about $202,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Bank7 by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,763 shares of the company's stock valued at $195,000 after purchasing an additional 1,540 shares during the last quarter. 23.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank7

In other Bank7 news, VP Jason E. Estes sold 2,077 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $50.17, for a total value of $104,203.09. Following the completion of the transaction, the vice president owned 103,840 shares in the company, valued at $5,209,652.80. This trade represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 5,702 shares of company stock worth $284,373. Corporate insiders own 25.71% of the company's stock.

Analysts Set New Price Targets

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

Bank7 Trading Up 1.6%

BSVN opened at $52.24 on Thursday. Bank7 Corp. has a 12 month low of $38.29 and a 12 month high of $55.41. The company has a market cap of $497.85 million, a PE ratio of 11.95 and a beta of 0.87. The company has a 50 day moving average of $50.71 and a 200 day moving average of $45.57.

Bank7 (NASDAQ:BSVN - Get Free Report) last issued 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). 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 the consensus estimate of $23.86 million. Research analysts forecast that Bank7 Corp. will post 4.26 earnings per share for the current fiscal year.

Bank7 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Friday, September 18th will be issued a dividend of $0.30 per share. This is a positive change from Bank7's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. Bank7's payout ratio is currently 24.71%.

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.

Want to see what other hedge funds are holding BSVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank7 Corp. (NASDAQ:BSVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source