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Bank7 (BSVN) Soars 11.9%: Is Further Upside Left in the Stock?

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Bank7 (BSVN) shares ended the last trading session 11.9% higher at $19.63. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.6% gain over the past four weeks.

Bank7 touched a new 52-week high of $21.44 during the second half of trading session. The filing of Form 8-K with the SEC related to amendments to articles of incorporation or bylaws drove the stock. The company’s shareholders gave nod to “an amendment to the Company’s Amended and Restated Certificate of Incorporation to declassify the Company’s board of directors and provide for the annual election of the entire board of directors.”

Further, optimistic investor sentiments surrounding the expectation of an accelerated recovery of the banking sector supported the stock. The bullish trend can be attributed to steepening of the yield curve, additional government spending and favorable economic data.

Price and Consensus

Price Consensus Chart for BSVN
Price Consensus Chart for BSVN

This company is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +5.6%. Revenues are expected to be $12.2 million, down 0.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Bank7, the consensus EPS estimate for the quarter has been revised 16.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BSVN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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