Insider Buying: Civista Bancshares, Inc. (NASDAQ:CIVB) SVP Buys 1,000 Shares of Stock

Civista Bancshares, Inc. (NASDAQ:CIVB) SVP Michael D. Mulford purchased 1,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $13.97 per share, for a total transaction of $13,970.00. Following the purchase, the senior vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $41,910. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Civista Bancshares Stock Performance

Shares of NASDAQ:CIVB traded up $0.32 during trading on Thursday, reaching $14.81. The stock had a trading volume of 64,849 shares, compared to its average volume of 29,734. Civista Bancshares, Inc. has a 52 week low of $13.71 and a 52 week high of $19.80. The stock has a fifty day simple moving average of $14.77 and a two-hundred day simple moving average of $15.85. The firm has a market capitalization of $232.32 million, a price-to-earnings ratio of 6.22 and a beta of 0.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.22.

Civista Bancshares (NASDAQ:CIVB) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). Civista Bancshares had a net margin of 16.38% and a return on equity of 10.36%. The company had revenue of $58.63 million during the quarter, compared to analyst estimates of $38.01 million. During the same quarter in the previous year, the business posted $0.82 EPS. As a group, analysts anticipate that Civista Bancshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.32%. The ex-dividend date is Monday, May 6th. Civista Bancshares’s dividend payout ratio is 27.47%.

Hedge Funds Weigh In On Civista Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Civista Bancshares by 25.8% in the 4th quarter. SG Americas Securities LLC now owns 8,458 shares of the bank’s stock valued at $156,000 after acquiring an additional 1,736 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Civista Bancshares by 294.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,451 shares of the bank’s stock worth $38,000 after acquiring an additional 1,830 shares during the last quarter. Barclays PLC grew its stake in shares of Civista Bancshares by 8.8% during the third quarter. Barclays PLC now owns 23,522 shares of the bank’s stock worth $363,000 after buying an additional 1,900 shares during the last quarter. Russell Investments Group Ltd. grew its position in Civista Bancshares by 11.3% during the 1st quarter. Russell Investments Group Ltd. now owns 24,080 shares of the bank’s stock worth $370,000 after acquiring an additional 2,453 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Civista Bancshares by 3.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 84,954 shares of the bank’s stock valued at $1,317,000 after acquiring an additional 3,178 shares during the period. 52.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CIVB has been the subject of several recent analyst reports. Stephens decreased their price objective on shares of Civista Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Hovde Group initiated coverage on shares of Civista Bancshares in a research report on Monday, April 1st. They issued a “market perform” rating and a $16.00 price target for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 target price (down previously from $21.00) on shares of Civista Bancshares in a research note on Wednesday, May 1st. Piper Sandler initiated coverage on shares of Civista Bancshares in a research note on Wednesday, February 21st. They set a “neutral” rating and a $18.00 target price for the company. Finally, TheStreet lowered Civista Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.75.

Civista Bancshares Company Profile

Civista Bancshares, Inc operates as the financial holding company for Civista Bank that provides community banking services. It collects a range of customer deposits; and offers commercial and agriculture, commercial and residential real estate, farm real estate, real estate construction, consumer, and other loans, as well as letters of credit.