The Manufacturers Life Insurance Company Takes Position in Bank7 Corp. $BSVN

Key Points

• The Manufacturers Life Insurance Company acquired 274,577 Bank7 shares worth approximately $13.4 million, representing a 2.88% stake. Several other institutional investors also initiated positions, bringing institutional ownership to 23.48%.
• Bank7 reported quarterly EPS of $0.87 and revenue of $22.91 million, both below analyst expectations. Despite the earnings miss, analysts maintain a “Moderate Buy” consensus with an average price target of $58.50.
• Bank7 raised its quarterly dividend from $0.27 to $0.30 per share, equivalent to $1.20 annually and a 2.3% yield. Insiders own 25.71% of the company, although insiders have sold shares during the past 90 days.

The Manufacturers Life Insurance Company purchased a new position in shares of Bank7 Corp. (NASDAQ:BSVN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 274,577 shares of the company's stock, valued at approximately $13,441,000. The Manufacturers Life Insurance Company owned about 2.88% of Bank7 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bank7 in the second quarter valued at about $2,186,000. Globeflex Capital L P bought a new position in Bank7 during the 2nd quarter worth approximately $159,000. BlackRock Inc. acquired a new position in shares of Bank7 in the 2nd quarter worth approximately $28,930,000. Deutsche Bank AG acquired a new position in shares of Bank7 in the 2nd quarter worth approximately $210,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Bank7 in the 2nd quarter valued at approximately $1,257,000. 23.48% of the stock is currently owned by institutional investors and hedge funds.

Bank7 Price Performance

Shares of BSVN opened at $52.21 on Friday. The company has a market cap of $497.56 million, a P/E ratio of 11.95 and a beta of 0.90. The stock has a fifty day moving average price of $50.39 and a 200 day moving average price of $45.41. Bank7 Corp. has a 12 month low of $38.29 and a 12 month high of $55.41.

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 company had revenue of $22.91 million during the quarter, compared to the consensus estimate 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 anticipate that Bank7 Corp. will post 4.26 earnings per share for the current year.

Bank7 Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Bank7

In other Bank7 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 completion of the transaction, the vice president owned 101,898 shares in the company, valued at approximately $5,044,969.98. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 5,702 shares of company stock worth $284,373. Insiders own 25.71% of the company's stock.

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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