OKLAHOMA CITY - Bank7 Corp. (NASDAQ: NASDAQ:BSVN), the parent company of Bank7, announced an increase in its quarterly cash dividend to $0.24 per share, up from $0.21. This change marks a 14.2% rise and the fifth consecutive annual increase in the company's dividend. The new dividend is scheduled to be paid on October 9, 2024, to shareholders of record by September 26, 2024.
President and CEO Thomas L. Travis expressed the company's confidence in its earnings, citing the consistent strength and growth of its top-tier earnings as the rationale behind the dividend increase. Travis highlighted the company's strategy of maintaining a dividend payout ratio below industry averages while still offering competitive yields to its shareholders. He noted that the company continues to build capital through strong earnings.
Bank7 Corp., headquartered in Oklahoma City, operates as a bank holding company with twelve full-service branches across Oklahoma, the Dallas/Fort Worth area in Texas, and Kansas. The company focuses on serving the needs of business owners and entrepreneurs, offering loan and deposit products designed for their financial requirements. Bank7 Corp. plans to expand organically by opening additional branches in targeted markets and pursuing strategic acquisitions.
The press release also contained forward-looking statements regarding Bank7 Corp.'s future financial performance and strategies. These statements were based on current expectations and projections, which are subject to a variety of risks, uncertainties, and assumptions.
The company cautioned that actual results could differ materially from those anticipated due to various factors, including changes in economic conditions, interest rates, regulatory standards, and banking policies.
InvestingPro Insights
Bank7 Corp.'s (NASDAQ: BSVN) recent announcement of their dividend increase is a testament to their financial strength and commitment to shareholder returns. With a track record of raising its dividend for three consecutive years, the company demonstrates a clear strategy of rewarding investors. The latest increase to $0.24 per share represents a continuation of this trend and aligns with the company's robust financial performance.
Analyzing the real-time metrics from InvestingPro, Bank7 Corp. boasts a market capitalization of $373.08 million and maintains an attractive P/E ratio of 11.71. These figures underscore the company's solid market position and investment appeal. Additionally, the P/E ratio has remained stable, with a slight adjustment to 11.76 in the last twelve months as of Q2 2024, indicating consistent earnings relative to its share price.
InvestingPro Tips reveal that while analysts have revised their earnings expectations downwards for the upcoming period, the company has shown significant returns over the last week, month, and three months, with a one-week price total return of 9.18% and a one-month price total return of 35.3%. This suggests a strong short-term performance that may interest potential investors looking for immediate gains. Furthermore, Bank7 Corp. has been profitable over the last twelve months, and analysts predict profitability to continue this year.
For those interested in deeper analysis and additional insights, there are a total of 13 InvestingPro Tips available for Bank7 Corp., which can be found at https://www.investing.com/pro/BSVN. Interested readers can also take advantage of a special offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription to InvestingPro, where they can access a wealth of financial information and expert analysis to guide their investment decisions.
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