Civista Bancshares, Inc. (NASDAQ:CIVB) Director Purchases $39,760.00 in Stock

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 Civista Bancshares stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $19.88 per share, with a total value of $39,760.00. Following the transaction, the director directly owned 8,283 shares in the company, valued at $164,666.04. This trade represents a 31.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Civista Bancshares Trading Down 1.1%

Shares of NASDAQ CIVB traded down $0.22 during mid-day trading on Thursday, hitting $19.51. 82,942 shares of the company traded hands, compared to its average volume of 54,909. Civista Bancshares, Inc. has a 1 year low of $14.90 and a 1 year high of $25.59. The stock has a market capitalization of $302.84 million, a price-to-earnings ratio of 7.71 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.19. The business has a 50 day moving average of $22.36 and a two-hundred day moving average of $21.32.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its 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). The company had revenue of $41.40 million for the quarter, compared to analysts' expectations of $43.07 million. Civista Bancshares had a net margin of 15.83% and a return on equity of 9.83%. On average, sell-side analysts anticipate that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Announces Dividend

The firm 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. This represents a $0.68 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, August 5th. Civista Bancshares's dividend payout ratio is currently 26.88%.

Institutional Investors Weigh In On Civista Bancshares

Several hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management increased its position in Civista Bancshares by 377.8% in the 2nd quarter. Ritholtz Wealth Management now owns 221,966 shares of the bank's stock worth $5,150,000 after purchasing an additional 175,514 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Civista Bancshares by 210.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock worth $3,152,000 after purchasing an additional 101,610 shares during the last quarter. Nuveen LLC acquired a new position in Civista Bancshares in the 1st quarter worth about $1,594,000. American Century Companies Inc. increased its position in Civista Bancshares by 55.0% in the 4th quarter. American Century Companies Inc. now owns 191,316 shares of the bank's stock worth $4,025,000 after purchasing an additional 67,889 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Civista Bancshares by 166.8% in the 4th quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock worth $1,950,000 after purchasing an additional 57,950 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CIVB has been the subject of several research analyst reports. Piper Sandler upped their price objective on Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Stephens cut their price objective on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday. 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 objective on Civista Bancshares and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Civista Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $24.80.

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.

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