The Manufacturers Life Insurance Company Makes New Investment in Bank7 Corp. $BSVN

The Manufacturers Life Insurance Company purchased a new position in Bank7 Corp. (NASDAQ:BSVN) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 274,577 shares of the company’s stock, valued at approximately $13,441,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in Bank7 by 60.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,604 shares of the company’s stock worth $64,000 after purchasing an additional 604 shares during the period. BNP Paribas Financial Markets increased its stake in Bank7 by 30.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,812 shares of the company’s stock valued at $84,000 after buying an additional 420 shares during the period. Globeflex Capital L P acquired a new position in Bank7 during the 2nd quarter valued at about $159,000. Deutsche Bank AG bought a new stake in shares of Bank7 during the 2nd quarter worth about $210,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Bank7 during the 3rd quarter worth about $213,000. 23.48% of the stock is currently owned by institutional investors.

Bank7 Price Performance

BSVN stock opened at $52.21 on Friday. The firm has a market cap of $497.56 million, a PE ratio of 11.95 and a beta of 0.90. Bank7 Corp. has a 12 month low of $38.29 and a 12 month high of $55.41. The firm has a 50 day simple moving average of $50.39 and a 200 day simple moving average of $45.41.

Bank7 (NASDAQ:BSVN) last posted its quarterly 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 net margin of 30.36% and a return on equity of 16.48%. The company had revenue of $22.91 million during the quarter, compared to the consensus estimate of $23.86 million. As a group, sell-side analysts expect that Bank7 Corp. will post 4.26 earnings per share for the current year.

Bank7 Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Bank7’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, September 18th. Bank7’s payout ratio is presently 24.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research cut shares of Bank7 from a “strong-buy” rating to a “hold” rating in a 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 increased their price target on 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 lifted their price target on Bank7 from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Insider Activity

In other news, VP Jason E. Estes sold 2,077 shares of the company’s stock in a transaction 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 directly owned 103,840 shares of the company’s stock, valued at $5,209,652.80. This represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 5,702 shares of company stock worth $284,373 over the last quarter. 25.71% of the stock is owned by insiders.

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.