Bank7 (NASDAQ:BSVN) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Bank7 shares rose to $56.39 from a prior close of $52.45, despite trading volume declining 24% to about 14,824 shares.
• Analyst sentiment remains positive overall, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $58.50.
• Bank7 missed quarterly earnings and revenue estimates, reporting $0.87 in EPS versus $1.03 expected, but increased its quarterly dividend to $0.30, or $1.20 annually, for a 2.1% yield.

Bank7 Corp. (NASDAQ:BSVN - Get Free Report) saw an uptick in trading volume on Friday . Approximately 14,824 shares traded hands during mid-day trading, a decline of 24% from the previous session's volume of 19,391 shares.The stock last traded at $56.39 and had previously closed at $52.45.

Analysts Set New Price Targets

Several brokerages recently issued reports on BSVN. Zacks Research lowered shares of Bank7 from a "strong-buy" rating to a "hold" rating in a report 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. Piper Sandler lifted 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. Finally, Keefe, Bruyette & Woods lifted their target price on Bank7 from $54.00 to $56.00 and gave the stock an "outperform" rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

Bank7 Stock Performance

The firm's 50 day moving average is $50.81 and its 200-day moving average is $45.63. The company has a market cap of $534.59 million, a PE ratio of 12.87 and a beta of 0.87.

Bank7 (NASDAQ:BSVN - Get Free Report) last posted its earnings results on Thursday, July 16th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.16). The firm had revenue of $22.91 million during the quarter, compared to analyst estimates of $23.86 million. Bank7 had a net margin of 30.36% and a return on equity of 16.48%. On average, 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. Shareholders of record on Friday, September 18th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. This is an increase from Bank7's previous quarterly dividend of $0.27. Bank7's dividend payout ratio is 24.71%.

Insider Buying and Selling at Bank7

In related news, VP Jason Estes sold 2,077 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $50.17, for a total transaction of $104,203.09. Following the completion of the sale, the vice president owned 103,840 shares in the company, valued at $5,209,652.80. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 5,702 shares of company stock valued at $284,373. 25.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bank7

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Bank7 in the second quarter valued at about $28,930,000. The Manufacturers Life Insurance Company purchased a new position in shares of Bank7 during the second quarter valued at approximately $13,441,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Bank7 in the 3rd quarter worth about $3,312,000. Invesco Ltd. acquired a new position in shares of Bank7 in the 2nd quarter valued at $2,803,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Bank7 during the 2nd quarter worth about $2,186,000. 23.48% of the stock is currently owned by hedge funds and other institutional investors.

Bank7 Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source