Bank7 (NASDAQ:BSVN) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Bank7 (NASDAQ:BSVN) posted its quarterly earnings results on Thursday. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03, FiscalAI reports. The firm had revenue of $22.91 million during the quarter, compared to analyst estimates of $23.86 million. Bank7 had a net margin of 31.77% and a return on equity of 18.18%.

Bank7 Trading Up 2.0%

Shares of Bank7 stock opened at $51.80 on Thursday. The stock has a market capitalization of $493.08 million, a price-to-earnings ratio of 11.12 and a beta of 0.91. The firm’s 50-day moving average price is $46.06 and its two-hundred day moving average price is $43.72. Bank7 has a 1-year low of $38.29 and a 1-year high of $52.78.

Insider Buying and Selling

In other news, insider Douglas A. Haines sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $44.07, for a total value of $44,070.00. Following the transaction, the insider directly owned 16,647 shares of the company’s stock, valued at $733,633.29. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Darrell Lee Jr. Mathews sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $43.00, for a total value of $43,000.00. Following the sale, the executive vice president owned 6,497 shares in the company, valued at approximately $279,371. This trade represents a 13.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 25.71% of the company’s stock.

Institutional Trading of Bank7

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in Bank7 during the 1st quarter worth about $227,000. Goldman Sachs Group Inc. raised its stake in shares of Bank7 by 11.7% in the first quarter. Goldman Sachs Group Inc. now owns 30,056 shares of the company’s stock worth $1,164,000 after acquiring an additional 3,145 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Bank7 by 2.5% in the second quarter. Geode Capital Management LLC now owns 101,428 shares of the company’s stock worth $4,243,000 after acquiring an additional 2,442 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Bank7 by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 12,766 shares of the company’s stock worth $534,000 after purchasing an additional 245 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Bank7 by 13.3% during the second quarter. Russell Investments Group Ltd. now owns 28,829 shares of the company’s stock worth $1,206,000 after purchasing an additional 3,378 shares in the last quarter. 23.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSVN has been the subject of a number of recent research reports. Zacks Research cut Bank7 from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Piper Sandler boosted their price target on Bank7 from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings upgraded Bank7 from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods dropped their price objective on Bank7 from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Bank7 Company Profile

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.