Bank7 climbs after co emerges as successful bidder for Century Financial - BSVN News | RalliesBank7 climbs after co emerges as successful bidder for Century Financial
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BSVN• Bank7 named successful bidder for Century Financial stake
- Community lender Bank7's BSVN.O shares rise 7.8% to $56.56.
- BSVN late Thursday announced it was named successful bidder for a 71% controlling stake in New Mexico-based Century Financial Services.
- Century Financial, which operates nine branches across New Mexico, is being sold through a court-supervised sale process.
- Purchase price is $91 million for Century Financial.
- Piper Sandler analyst Nathan Race says the deal is a highly attractive deployment of BSVN's excess capital.
- "We believe this announcement is a meaningful catalyst and reiterate BSVN at overweight," Race said.
- 2 of 3 brokerages rate the stock "buy" and 1 "hold"; median PT $56 - data compiled by LSEG.
- As of last close, BSVN shares were up 28% YTD.
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