Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Bank7 Corp. $BSVN

Key Points

• Connor Clark & Lunn Investment Management purchased 44,662 Bank7 shares worth approximately $2.19 million, while institutional investors collectively owned 23.48% of the company.
• Bank7’s latest quarterly results fell short of expectations, with EPS of $0.87 versus the $1.03 consensus and revenue of $22.91 million versus $23.86 million expected.
• The company increased its quarterly dividend from $0.27 to $0.30 per share, implying a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $58.50.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Bank7 Corp. (NASDAQ:BSVN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 44,662 shares of the company's stock, valued at approximately $2,186,000. Connor Clark & Lunn Investment Management Ltd. owned 0.47% of Bank7 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in shares of Bank7 during the first quarter valued at about $227,000. Goldman Sachs Group Inc. raised its stake in Bank7 by 11.7% in the first quarter. Goldman Sachs Group Inc. now owns 30,056 shares of the company's stock worth $1,164,000 after buying an additional 3,145 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Bank7 by 2.5% in the second quarter. Geode Capital Management LLC now owns 101,428 shares of the company's stock worth $4,243,000 after buying an additional 2,442 shares during the period. JPMorgan Chase & Co. lifted its holdings in Bank7 by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 12,766 shares of the company's stock worth $534,000 after buying an additional 245 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Bank7 by 13.3% during 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 in the last quarter. Institutional investors own 23.48% of the company's stock.

Bank7 Stock Performance

Shares of BSVN opened at $52.21 on Friday. Bank7 Corp. has a fifty-two week low of $38.29 and a fifty-two week high of $55.41. The firm's 50-day simple moving average is $50.39 and its two-hundred day simple moving average is $45.41. The stock has a market cap of $497.56 million, a PE ratio of 11.95 and a beta of 0.90.

Bank7 (NASDAQ:BSVN - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $1.03 by ($0.16). Bank7 had a return on equity of 16.48% and a net margin of 30.36%.The company had revenue of $22.91 million during the quarter, compared to the consensus estimate of $23.86 million. Equities research analysts predict that Bank7 Corp. will post 4.26 EPS for the current year.

Bank7 Increases Dividend

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

Analyst Upgrades and Downgrades

BSVN has been the topic of a number of research analyst reports. Weiss Ratings upgraded Bank7 from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. Piper Sandler raised their target price on Bank7 from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Keefe, Bruyette & Woods lifted their price target on Bank7 from $54.00 to $56.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. Finally, Zacks Research lowered Bank7 from a "strong-buy" rating to a "hold" rating in a research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.50.

Insider Activity

In related news, VP Jason E. Estes sold 3,225 shares of the company's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $49.51, for a total value of $159,669.75. Following the transaction, the vice president owned 101,898 shares in the company, valued at $5,044,969.98. The trade was a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 5,702 shares of company stock valued at $284,373. 25.71% of the stock is owned by insiders.

About Bank7

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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