Bank7 Corp. (NASDAQ:BSVN) Announces Dividend Increase – $0.24 Per Share

Bank7 Corp. (NASDAQ:BSVN) declared a quarterly dividend on Friday, July 26th, Zacks reports. Shareholders of record on Thursday, September 26th will be paid a dividend of 0.24 per share on Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, September 26th. This is a boost from Bank7’s previous quarterly dividend of $0.21.

Bank7 has raised its dividend payment by an average of 21.8% annually over the last three years. Bank7 has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank7 to earn $3.85 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 21.8%.

Bank7 Stock Performance

Shares of Bank7 stock opened at $42.20 on Friday. The firm has a 50-day moving average of $31.61 and a 200-day moving average of $28.86. Bank7 has a 52-week low of $19.53 and a 52-week high of $42.40. The stock has a market cap of $390.35 million, a PE ratio of 12.38 and a beta of 1.49.

Bank7 (NASDAQ:BSVN) last posted its quarterly earnings data on Thursday, July 11th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. Bank7 had a net margin of 22.22% and a return on equity of 18.36%. The firm had revenue of $24.40 million during the quarter, compared to the consensus estimate of $23.20 million. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities research analysts predict that Bank7 will post 4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Henry Litchfield sold 2,259 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $30.03, for a total value of $67,837.77. Following the completion of the transaction, the vice president now directly owns 12,302 shares in the company, valued at approximately $369,429.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bank7 news, VP Henry Litchfield sold 2,259 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $30.03, for a total transaction of $67,837.77. Following the completion of the sale, the vice president now directly owns 12,302 shares in the company, valued at $369,429.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason E. Estes sold 2,952 shares of Bank7 stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $36.00, for a total value of $106,272.00. Following the completion of the transaction, the vice president now owns 72,818 shares in the company, valued at approximately $2,621,448. The disclosure for this sale can be found here. Insiders have sold 36,101 shares of company stock worth $1,290,634 over the last ninety days. Corporate insiders own 44.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on Bank7 from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th.

About Bank7

Bank7 Corp. operates as a bank holding company for Bank7 that provides banking and financial services to individual and corporate customers. It offers commercial deposit, commercial checking, money market, and other deposit accounts; and retail deposit services, such as certificates of deposit, money market accounts, checking accounts, negotiable order of withdrawal accounts, savings accounts, and automated teller machine access.