Bailard Inc. Invests $352,000 in Civista Bancshares, Inc. (NASDAQ:CIVB)

Bailard Inc. acquired a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,026 shares of the bank's stock, valued at approximately $352,000. Bailard Inc. owned approximately 0.12% of Civista Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC lifted its holdings in Civista Bancshares by 166.8% in the fourth quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock valued at $1,950,000 after acquiring an additional 57,950 shares during the period. Man Group plc acquired a new position in Civista Bancshares during the fourth quarter worth $282,000. Lazard Asset Management LLC purchased a new position in Civista Bancshares in the 4th quarter valued at about $263,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Civista Bancshares by 210.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock worth $3,152,000 after acquiring an additional 101,610 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Civista Bancshares by 23.3% during the 4th quarter. Ameriprise Financial Inc. now owns 36,861 shares of the bank's stock worth $776,000 after purchasing an additional 6,968 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Civista Bancshares

In other Civista Bancshares news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of Civista Bancshares stock in a transaction that occurred on Tuesday, April 29th. The shares were acquired at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the acquisition, the chairman owned 19,162 shares of the company's stock, valued at $429,995.28. The trade was a 47.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Darci L. Congrove bought 1,250 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were bought at an average price of $21.25 per share, for a total transaction of $26,562.50. Following the completion of the acquisition, the director owned 1,250 shares in the company, valued at approximately $26,562.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 17,385 shares of company stock worth $376,741 over the last ninety days. 2.60% of the stock is owned by insiders.

Civista Bancshares Stock Performance

Shares of CIVB stock opened at $21.32 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $330.89 million, a PE ratio of 9.39 and a beta of 0.69. Civista Bancshares, Inc. has a 1 year low of $14.90 and a 1 year high of $25.59. The stock has a fifty day moving average price of $22.79 and a 200 day moving average price of $21.29.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.16. The company had revenue of $40.63 million during the quarter, compared to the consensus estimate of $40.33 million. Civista Bancshares had a return on equity of 9.13% and a net margin of 14.35%. Sell-side analysts forecast that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares 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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