Bank7 (NASDAQ:BSVN) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Bank7 (NASDAQ:BSVN) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks reports.

BSVN has been the subject of a number of other research reports. Piper Sandler boosted their price target on shares of Bank7 from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Royal Bank Of Canada set a $62.00 price objective on shares of Bank7 in a report on Wednesday, September 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank7 in a research note on Wednesday, September 9th. UBS Group reaffirmed a “buy” rating on shares of Bank7 in a research note on Friday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank7 from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Bank7 Trading Up 0.0%

Shares of NASDAQ:BSVN opened at $58.72 on Monday. The business’s 50 day simple moving average is $54.77 and its two-hundred day simple moving average is $47.33. Bank7 has a 52-week low of $38.29 and a 52-week high of $59.52.

Bank7 (NASDAQ:BSVN) last issued its earnings results on Thursday, October 15th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The firm had revenue of $23.37 million for the quarter, compared to analyst estimates of $23.75 million. On average, research analysts expect that Bank7 will post 3.87 earnings per share for the current fiscal year.

Bank7 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Friday, September 18th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. This is a boost from Bank7’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, September 18th.

Insider Buying and Selling

In other news, VP Jason Estes sold 2,077 shares of the firm’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 value of $104,203.09. Following the transaction, the vice president owned 103,840 shares in the company, valued at $5,209,652.80. This trade represents 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 this hyperlink. Also, EVP Darrell Lee Jr. Mathews sold 1,750 shares of Bank7 stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $57.61, for a total value of $100,817.50. Following the transaction, the executive vice president directly owned 9,997 shares in the company, valued at approximately $575,927.17. The trade was a 14.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,227 shares of company stock worth $225,521 in the last 90 days. Corporate insiders own 25.71% of the company’s stock.

Hedge Funds Weigh In On Bank7

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its holdings 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. Hsbc Holdings PLC raised its holdings in shares of Bank7 by 6.1% in the second quarter. Hsbc Holdings PLC now owns 31,641 shares of the company’s stock valued at $1,534,000 after purchasing an additional 1,810 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Bank7 during the second quarter valued at about $909,000. The Manufacturers Life Insurance Company bought a new position in shares of Bank7 during the second quarter valued at about $13,441,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bank7 during the second quarter worth about $2,186,000. 23.48% of the stock is currently owned by institutional investors.

About Bank7

Bank7 is a community bank headquartered in Oklahoma City, Oklahoma, and the principal subsidiary of Bank7 Corporation (NASDAQ: BSVN). Founded in 2004, the bank serves businesses, professionals and individual customers through banking locations in Oklahoma and Texas.

The bank provides a range of commercial and consumer banking services, including business and personal checking and savings accounts, certificates of deposit, commercial real estate lending, construction loans, commercial and industrial loans, residential real estate loans and consumer financing.