Bank7 (NASDAQ:BSVN) Sees Large Volume Increase - Here's Why

Key Points

• Analyst sentiment remains positive: Bank7 has a consensus “Moderate Buy” rating from three Buy ratings and one Hold, with an average price target of $58.50. Keefe, Bruyette & Woods and Piper Sandler recently raised their targets to $56 and $61, respectively.
• Quarterly results fell short of expectations: Bank7 reported earnings of $0.87 per share versus the $1.03 consensus estimate, while revenue of $22.91 million also missed forecasts of $23.86 million.
• The company increased its dividend: Bank7 raised its quarterly payout from $0.27 to $0.30 per share, representing an annualized dividend of $1.20 and a 2.2% yield. Insiders have sold shares recently, while institutional ownership stands at 23.48%.

Bank7 Corp. (NASDAQ:BSVN - Get Free Report) shares saw strong trading volume on Thursday . 13,688 shares were traded during mid-day trading, a decline of 33% from the previous session's volume of 20,385 shares.The stock last traded at $54.5210 and had previously closed at $54.64.

Analyst Ratings Changes

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

Bank7 Price Performance

The business's 50-day moving average price is $51.34 and its two-hundred day moving average price is $45.97. The company has a market capitalization of $519.76 million, a price-to-earnings ratio of 12.48 and a beta of 0.87.

Bank7 (NASDAQ:BSVN - Get Free Report) last issued 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). The company had revenue of $22.91 million for the quarter, compared to analyst estimates of $23.86 million. Bank7 had a return on equity of 16.48% and a net margin of 30.36%. As a group, research analysts predict that Bank7 Corp. will post 4.26 EPS for the current year.

Bank7 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Friday, September 18th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, September 18th. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. This is a positive change from Bank7's previous quarterly dividend of $0.27. Bank7's dividend payout ratio (DPR) is 24.71%.

Insider Buying and Selling at Bank7

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

Institutional Investors Weigh In On Bank7

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC grew its position in Bank7 by 14.4% during the 2nd quarter. Squarepoint Ops LLC now owns 11,511 shares of the company's stock worth $563,000 after acquiring an additional 1,448 shares during the last quarter. California State Teachers Retirement System lifted its stake 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 buying an additional 2,707 shares during the period. Hsbc Holdings PLC boosted its stake in Bank7 by 6.1% during 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 in the last quarter. Bank of America Corp DE bought a new position in shares of Bank7 during the 2nd quarter worth about $909,000. Finally, The Manufacturers Life Insurance Company bought a new position in Bank7 in the second quarter worth approximately $13,441,000. 23.48% of the stock is owned by institutional investors.

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.

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.