Cubist Systematic Strategies LLC Takes Position in Civista Bancshares, Inc. (NASDAQ:CIVB)

Cubist Systematic Strategies LLC purchased a new position in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,635 shares of the bank's stock, valued at approximately $266,000. Cubist Systematic Strategies LLC owned about 0.08% of Civista Bancshares as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its stake in shares of Civista Bancshares by 210.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock valued at $3,152,000 after acquiring an additional 101,610 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Civista Bancshares during the fourth quarter valued at about $1,774,000. American Century Companies Inc. raised its stake in shares of Civista Bancshares by 55.0% during the fourth quarter. American Century Companies Inc. now owns 191,316 shares of the bank's stock valued at $4,025,000 after acquiring an additional 67,889 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Civista Bancshares by 271.7% during the fourth quarter. Prudential Financial Inc. now owns 53,355 shares of the bank's stock valued at $1,123,000 after acquiring an additional 39,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Civista Bancshares by 120.7% during the fourth quarter. JPMorgan Chase & Co. now owns 56,144 shares of the bank's stock valued at $1,181,000 after acquiring an additional 30,706 shares during the last quarter. 52.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Civista Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, February 22nd. Keefe, Bruyette & Woods increased their price target on shares of Civista Bancshares from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Piper Sandler increased their price target on shares of Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. DA Davidson set a $27.00 price target on shares of Civista Bancshares in a research note on Friday, January 31st. Finally, Stephens increased their price target on shares of Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.20.

Civista Bancshares Trading Down 1.3%

CIVB stock traded down $0.28 during trading on Friday, reaching $22.05. The company had a trading volume of 35,319 shares, compared to its average volume of 48,184. Civista Bancshares, Inc. has a 52 week low of $13.60 and a 52 week high of $24.00. The company has a market cap of $342.19 million, a P/E ratio of 10.92 and a beta of 0.69. The business has a 50 day moving average of $20.90 and a 200 day moving average of $21.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.95 and a quick ratio of 0.95.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.16. The business had revenue of $40.63 million for the quarter, compared to analysts' expectations of $40.33 million. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. As a group, sell-side analysts forecast that Civista Bancshares, Inc. will post 2.28 earnings per share for the current fiscal year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Shareholders of record on Tuesday, April 29th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Tuesday, April 29th. Civista Bancshares's dividend payout ratio (DPR) is presently 29.96%.

Insiders Place Their Bets

In other Civista Bancshares news, Chairman Dennis E. Murray, Jr. acquired 6,143 shares of the business's stock in a transaction 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 completion of the acquisition, the chairman now owns 19,162 shares in the company, valued at $429,995.28. This trade represents a 47.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

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.