Bank7 (NASDAQ:BSVN) Hits New 52-Week High - Here's Why

Key Points

• Bank7 shares hit a new 52-week high of $57.68, up from a previous close of $52.45, giving the company a market capitalization of approximately $547 million.
• Analyst sentiment remains favorable, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $58.50.
• Bank7 increased its quarterly dividend from $0.27 to $0.30 per share, implying a 2.1% annualized yield, despite quarterly earnings and revenue falling short of analyst expectations.

Bank7 Corp. (NASDAQ:BSVN - Get Free Report)'s stock price reached a new 52-week high on Saturday . The stock traded as high as $57.68 and last traded at $57.43, with a volume of 117027 shares traded. The stock had previously closed at $52.45.

Analyst Ratings Changes

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

Bank7 Stock Performance

The firm has a market capitalization of $547.08 million, a price-to-earnings ratio of 13.14 and a beta of 0.87. The business has a 50 day simple moving average of $50.97 and a 200-day simple moving average of $45.71.

Bank7 (NASDAQ:BSVN - Get Free Report) last posted its 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 net margin of 30.36% and a return on equity of 16.48%. The business had revenue of $22.91 million during the quarter, compared to analysts' expectations of $23.86 million. Equities analysts predict that Bank7 Corp. will post 4.26 earnings per share for the current fiscal year.

Bank7 Increases Dividend

The company also recently declared 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 2.1%. This is a positive change from Bank7's previous quarterly dividend of $0.27. The ex-dividend date is Friday, September 18th. Bank7's payout ratio is currently 27.46%.

Insider Activity

In related news, VP Jason Estes sold 2,077 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $50.17, for a total transaction of $104,203.09. Following the transaction, the vice president owned 103,840 shares of the company's stock, valued at approximately $5,209,652.80. This represents a 1.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 5,702 shares of company stock valued at $284,373. 25.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bank7

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in Bank7 by 1,177.0% in the second quarter. California State Teachers Retirement System now owns 2,937 shares of the company's stock valued at $144,000 after purchasing an additional 2,707 shares during the period. Hsbc Holdings PLC lifted its stake in Bank7 by 6.1% in the second quarter. Hsbc Holdings PLC now owns 31,641 shares of the company's stock worth $1,534,000 after acquiring an additional 1,810 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Bank7 in the 2nd quarter valued at approximately $909,000. The Manufacturers Life Insurance Company acquired a new position in shares of Bank7 during the second quarter worth $13,441,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Bank7 during the 2nd quarter worth about $2,186,000. Hedge funds and other institutional investors own 23.48% 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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