American Century Companies Inc. Has $4.26 Million Stock Holdings in Civista Bancshares, Inc. $CIVB

Key Points

• American Century Companies Inc. increased its stake in Civista Bancshares, Inc. by 13.8%, owning approximately 1.40% of the shares worth $4,255,000 at the end of the first quarter.
• Equities analysts have recently downgraded Civista Bancshares, with Stephens reducing the price target from $27.00 to $24.00 and Hovde Group setting a new target of $22.00.
• Civista Bancshares declared a quarterly dividend of $0.17 per share, reflecting an annualized payout of $0.68 and a yield of 3.2%.

American Century Companies Inc. lifted its holdings in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 13.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 217,777 shares of the bank's stock after acquiring an additional 26,461 shares during the period. American Century Companies Inc. owned approximately 1.40% of Civista Bancshares worth $4,255,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Civista Bancshares by 1.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,208 shares of the bank's stock worth $532,000 after acquiring an additional 497 shares during the period. Nuveen LLC bought a new position in shares of Civista Bancshares during the 1st quarter worth about $1,594,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Civista Bancshares by 13.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,216 shares of the bank's stock worth $1,001,000 after acquiring an additional 6,055 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Civista Bancshares by 443.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,979 shares of the bank's stock worth $234,000 after acquiring an additional 9,775 shares during the period. Finally, Bailard Inc. bought a new position in shares of Civista Bancshares during the 1st quarter worth about $352,000. 52.10% of the stock is owned by institutional investors.

Civista Bancshares Price Performance

Shares of NASDAQ CIVB traded up $0.44 during trading on Thursday, reaching $21.19. The company had a trading volume of 49,200 shares, compared to its average volume of 77,751. Civista Bancshares, Inc. has a 52 week low of $16.24 and a 52 week high of $25.59. The stock has a market cap of $409.18 million, a PE ratio of 8.38 and a beta of 0.76. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average price is $21.29 and its 200-day moving average price is $21.16.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%.The company had revenue of $41.40 million during the quarter, compared to the consensus estimate of $43.07 million. Analysts expect that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.2%. Civista Bancshares's payout ratio is currently 26.88%.

Insider Activity at Civista Bancshares

In related news, Director Darci L. Congrove bought 1,250 shares of the company's stock in a transaction on Friday, July 11th. The stock was bought at an average cost of $21.25 per share, with a total value of $26,562.50. Following the completion of the purchase, the director owned 1,250 shares in the company, valued at approximately $26,562.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Richard J. Dutton purchased 4,000 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were acquired at an average cost of $21.25 per share, with a total value of $85,000.00. Following the completion of the purchase, the senior vice president owned 4,000 shares of the company's stock, valued at $85,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 14,742 shares of company stock valued at $307,978. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

CIVB has been the subject of a number of analyst reports. DA Davidson set a $26.00 price objective on shares of Civista Bancshares and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen lowered shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Stephens dropped their price objective on shares of Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating for the company in a report on Tuesday, July 29th. Finally, Hovde Group lowered shares of Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price objective for the company. in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.