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 annualized dividend and a yield of 2.27%. The ex-dividend date is Thursday, September 26th. This is a positive change from Bank7’s previous quarterly dividend of $0.21.

Bank7 has raised its dividend by an average of 21.8% annually over the last three years. Bank7 has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 4.7 %

Shares of Bank7 stock opened at $42.20 on Friday. The company’s 50-day moving average price is $31.61 and its 200-day moving average price is $28.86. Bank7 has a 12-month low of $19.53 and a 12-month high of $42.40. The company has a market cap of $390.35 million, a price-to-earnings ratio of 12.38 and a beta of 1.49.

Bank7 (NASDAQ:BSVN) last posted its earnings results on Thursday, July 11th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.23. The business had revenue of $24.40 million for the quarter, compared to analysts’ expectations of $23.20 million. Bank7 had a net margin of 22.22% and a return on equity of 18.36%. During the same period in the prior year, the company posted $1.05 EPS. On average, sell-side analysts predict that Bank7 will post 4.33 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective on Bank7 from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, July 12th.

Insider Buying and Selling

In related news, VP Henry Litchfield sold 2,290 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $30.18, for a total value of $69,112.20. Following the sale, the vice president now directly owns 12,302 shares of the company’s stock, valued at $371,274.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Henry Litchfield sold 2,290 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $30.18, for a total value of $69,112.20. Following the completion of the transaction, the vice president now directly owns 12,302 shares in the company, valued at $371,274.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jason E. Estes sold 2,952 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $36.00, for a total value of $106,272.00. Following the sale, 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. Over the last three months, insiders have sold 36,101 shares of company stock worth $1,290,634. Insiders own 44.01% of the company’s stock.

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.