Bank7 Corp. (NASDAQ:BSVN) Announces Dividend Increase – $0.30 Per Share

Bank7 Corp. (NASDAQ:BSVN) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Friday, September 18th will be paid a dividend of 0.30 per share on Thursday, October 8th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, September 18th. This is a 11.1% increase from Bank7’s previous quarterly dividend of $0.27.

Bank7 has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 5 years. Bank7 has a payout ratio of 26.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank7 to earn $4.55 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 23.7%.

Bank7 Stock Up 0.7%

Shares of BSVN traded up $0.36 during mid-day trading on Thursday, reaching $51.76. 109,852 shares of the company’s stock were exchanged, compared to its average volume of 18,415. Bank7 has a 52-week low of $38.29 and a 52-week high of $55.41. The company has a market cap of $493.27 million, a price-to-earnings ratio of 11.84 and a beta of 0.90. The company has a 50-day simple moving average of $49.53 and a two-hundred day simple moving average of $45.08.

Bank7 (NASDAQ:BSVN) last announced its earnings results on Thursday, July 16th. The company reported $0.87 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 net margin of 30.36% and a return on equity of 16.48%. As a group, equities research analysts predict that Bank7 will post 4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BSVN shares. Zacks Research downgraded Bank7 from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings upgraded Bank7 from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Keefe, Bruyette & Woods boosted their target price on shares of Bank7 from $54.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Piper Sandler upped their target price on shares of Bank7 from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank7 has a consensus rating of “Moderate Buy” and an average target price of $58.50.

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.