Bank7 (NASDAQ:BSVN) Sees Large Volume Increase - What's Next?

Key Points

• Bank7 shares rose 1.7% to $54.88 as trading volume surged 117% to approximately 46,204 shares.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $58.50, despite one downgrade to “Hold.”
• Bank7 increased its quarterly dividend from $0.27 to $0.30 per share, implying a 2.2% annual yield; however, its latest earnings and revenue fell short of analyst expectations.

Shares of Bank7 Corp. (NASDAQ:BSVN - Get Free Report) saw strong trading volume on Thursday . Approximately 46,204 shares changed hands during trading, an increase of 117% from the previous session's volume of 21,274 shares.The stock last traded at $54.8750 and had previously closed at $54.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Zacks Research cut Bank7 from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Bank7 in a research note on Wednesday, September 9th. Keefe, Bruyette & Woods lifted their price objective on Bank7 from $54.00 to $56.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Finally, Piper Sandler upped their price objective on Bank7 from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Bank7 currently has a consensus rating of "Moderate Buy" and an average target price of $58.50.

Bank7 Stock Up 1.7%

The company has a market capitalization of $526.96 million, a PE ratio of 12.65 and a beta of 0.87. The firm's 50 day simple moving average is $51.80 and its 200 day simple moving average is $46.40.

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

Bank7 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Friday, September 18th will be given a dividend of $0.30 per share. 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. The ex-dividend date is Friday, September 18th. Bank7's dividend payout ratio is 24.71%.

Insider Activity

In other news, VP Jason Estes sold 2,077 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $50.17, for a total value of $104,203.09. Following the transaction, the vice president directly owned 103,840 shares in the company, valued at approximately $5,209,652.80. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 5,702 shares of company stock worth $284,373 over the last ninety days. 25.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bank7

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its position in shares of Bank7 by 14.4% during the second 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 period. Hsbc Holdings PLC grew 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 purchasing an additional 1,810 shares in the last quarter. Bank of America Corp DE purchased a new position in Bank7 during the 2nd quarter worth $909,000. The Manufacturers Life Insurance Company purchased a new position in Bank7 during the 2nd quarter worth $13,441,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bank7 during the 2nd quarter valued at $2,186,000. 23.48% of the stock is currently owned by institutional investors.

About Bank7

Bank7 is the principal banking subsidiary of Bank7 Corp., a full-service commercial bank headquartered in Oklahoma City, Oklahoma. The company provides banking services to businesses, professionals and individual customers, with an emphasis on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, certificates of deposit, treasury management and other cash-management solutions. Bank7 also offers commercial real estate, commercial and industrial, energy, construction, residential mortgage and consumer loans.

Bank7 primarily serves customers in Oklahoma and selected surrounding markets.

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