Bank7 (NASDAQ:BSVN) Issues Quarterly Earnings Results

Bank7 (NASDAQ:BSVN) issued its quarterly earnings data on Thursday, October 15th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01, Zacks reports. Bank7 had a return on equity of 15.96% and a net margin of 30.55%. The company had revenue of $23.37 million during the quarter, compared to analysts’ expectations of $23.75 million.

Here are the key takeaways from Bank7’s conference call:

• Strong organic loan growth continued despite more than $130 million in customer paydowns, supported by a robust loan pipeline and favorable Texas and Oklahoma economies.
• The pending Century Financial merger, expected to close November 1, is viewed as strategically and financially beneficial, adding low-cost deposits, expanding New Mexico markets, and creating approximately 30% cost savings with most expected in the first quarter after closing.
• Management expects the merger to be initially neutral to net interest margin, although cheaper funding should provide flexibility to maintain margins or selectively support faster loan growth as cash from Century’s bond portfolio is redeployed.
• The transaction will generate approximately $16 million in one-time merger expenses, while systems conversion costs and remaining integration work are expected to weigh on near-term efficiency; the final goodwill amount also remains uncertain because of interest-rate-sensitive valuation marks.

Bank7 Stock Performance

Bank7 stock traded up $0.42 during mid-day trading on Monday, reaching $58.81. 27,910 shares of the company were exchanged, compared to its average volume of 25,917. Bank7 has a twelve month low of $38.29 and a twelve month high of $60.17. The firm’s 50-day simple moving average is $55.87 and its two-hundred day simple moving average is $47.95. The firm has a market cap of $560.46 million, a PE ratio of 13.68 and a beta of 0.74.

Bank7 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Friday, September 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, September 18th. This is a positive change from Bank7’s previous quarterly dividend of $0.27. Bank7’s payout ratio is 27.91%.

Insider Activity

In other news, EVP Darrell Lee Jr. Mathews sold 1,750 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $57.61, for a total value of $100,817.50. Following the transaction, the executive vice president owned 9,997 shares of the company’s stock, valued at approximately $575,927.17. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 25.71% of the company’s stock.

Analysts Set New Price Targets

BSVN has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bank7 in a report on Wednesday, September 9th. Zacks Research raised shares of Bank7 from a “strong sell” rating to a “hold” rating in a report on Monday, October 26th. Piper Sandler upped their price target on shares of Bank7 from $61.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of Bank7 from $56.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. Finally, Royal Bank Of Canada set a $62.00 price target on shares of Bank7 in a research note on Wednesday, September 23rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

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.