Bank7 Full Year 2023 Earnings: Beats Expectations

BANK7 -0.84%

BANK7

BSVN

29.54

-0.84%

Bank7 (NASDAQ:BSVN) Full Year 2023 Results

Key Financial Results

  • Revenue: US$70.6m (up 4.0% from FY 2022).
  • Net income: US$28.3m (down 4.6% from FY 2022).
  • Profit margin: 40% (down from 44% in FY 2022). The decrease in margin was driven by higher expenses.
  • EPS: US$3.09 (down from US$3.26 in FY 2022).

BSVN Banking Performance Indicators

  • Net interest margin (NIM): 4.97% (up from 4.82% in FY 2022).
  • Cost-to-income ratio: 36.1% (down from 39.3% in FY 2022).
  • Non-performing loans: 2.12% (up from 1.41% in FY 2022).
revenue-and-expenses-breakdown
NasdaqGS:BSVN Revenue and Expenses Breakdown March 29th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bank7 Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 1.1%.

In the last 12 months, the only revenue segment was Banking contributing US$70.6m. The largest operating expense was General & Administrative costs, amounting to US$23.7m (56% of total expenses). Explore how BSVN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 1.3% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Bank7.

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