Civista Bancshares, Inc. (NASDAQ:CIVB) Director Nathan E. Weaks Buys 2,000 Shares

Key Points

• Director Nathan E. Weaks purchased 2,000 shares of Civista Bancshares stock for a total of $39,760, increasing his ownership in the company by 31.83%.
• Civista Bancshares reported earnings per share (EPS) of $0.66 for the last quarter, missing the consensus estimate by $0.03, with revenue of $41.4 million.
• The company will pay a quarterly dividend of $0.17 on August 19th, representing a 3.48% dividend yield based on its annualized distribution.

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) Director Nathan E. Weaks purchased 2,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $19.88 per share, for a total transaction of $39,760.00. Following the transaction, the director directly owned 8,283 shares of the company's stock, valued at $164,666.04. This represents a 31.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Civista Bancshares Stock Performance

NASDAQ CIVB traded up $0.01 during trading hours on Monday, reaching $19.36. The company's stock had a trading volume of 8,188 shares, compared to its average volume of 55,798. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $22.25 and a 200 day simple moving average of $21.33. Civista Bancshares, Inc. has a 52 week low of $14.90 and a 52 week high of $25.59. The stock has a market cap of $300.39 million, a PE ratio of 7.65 and a beta of 0.73.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.66 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.03). Civista Bancshares had a net margin of 15.83% and a return on equity of 9.83%. The firm had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.07 million. Equities research analysts predict that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 3.5%. Civista Bancshares's dividend payout ratio (DPR) is currently 26.88%.

Hedge Funds Weigh In On Civista Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in shares of Civista Bancshares by 55.0% in the 4th quarter. American Century Companies Inc. now owns 191,316 shares of the bank's stock valued at $4,025,000 after purchasing an additional 67,889 shares during the last quarter. Vanguard Group Inc. increased its stake in Civista Bancshares by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 857,968 shares of the bank's stock valued at $18,052,000 after acquiring an additional 12,746 shares during the period. Prudential Financial Inc. boosted its position in Civista Bancshares by 271.7% in the fourth quarter. Prudential Financial Inc. now owns 53,355 shares of the bank's stock valued at $1,123,000 after buying an additional 39,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Civista Bancshares by 120.7% in the fourth quarter. JPMorgan Chase & Co. now owns 56,144 shares of the bank's stock valued at $1,181,000 after buying an additional 30,706 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Civista Bancshares by 210.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock valued at $3,152,000 after buying an additional 101,610 shares in the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CIVB has been the subject of a number of recent research reports. Wall Street Zen lowered Civista Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. DA Davidson set a $26.00 price target on Civista Bancshares and gave the company a "buy" rating in a research report on Monday, July 14th. Piper Sandler boosted their target price on Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Stephens decreased their price target on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods upped their target price on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Civista Bancshares presently has an average rating of "Moderate Buy" and an average target price of $24.80.

About Civista Bancshares

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.