Goldman Sachs Group Inc. Sells 54,338 Shares of Civista Bancshares, Inc. $CIVB

Key Points

• Goldman Sachs Group Inc. reduced its stake in Civista Bancshares, decreasing ownership by 47.5% to a total of 60,136 shares, valued at approximately $1.18 million.
• The company's recent quarterly earnings report indicated an earnings per share (EPS) of $0.66, which was below analysts' expectations of $0.69.
• Civista Bancshares announced a quarterly dividend of $0.17 per share, translating to an annualized dividend yield of 3.3%.

Goldman Sachs Group Inc. decreased its stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) by 47.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 60,136 shares of the bank's stock after selling 54,338 shares during the period. Goldman Sachs Group Inc. owned 0.39% of Civista Bancshares worth $1,175,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in Civista Bancshares by 43.7% during the 1st quarter. CWM LLC now owns 3,084 shares of the bank's stock worth $60,000 after purchasing an additional 938 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock valued at $80,000 after purchasing an additional 4,003 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Civista Bancshares by 103.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock valued at $108,000 after purchasing an additional 2,609 shares during the last quarter. Deutsche Bank AG increased its position in shares of Civista Bancshares by 77.0% during the 4th quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock valued at $162,000 after purchasing an additional 3,347 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position 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 valued at $234,000 after purchasing an additional 9,775 shares during the last quarter. Hedge funds and other institutional investors own 52.10% of the company's stock.

Analyst Ratings Changes

CIVB has been the topic of several recent research reports. Wall Street Zen lowered Civista Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. DA Davidson set a $26.00 price objective on Civista Bancshares and gave the stock a "buy" rating in a research report on Monday, July 14th. Stephens cut their price objective on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 29th. Finally, Hovde Group lowered Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price objective on the stock. in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $24.80.

Insider Buying and Selling

In related news, Director Darci L. Congrove acquired 1,250 shares of the stock in a transaction on Friday, July 11th. The stock was acquired at an average price of $21.25 per share, for a total transaction of $26,562.50. Following the completion of the purchase, the director owned 1,250 shares of the company's stock, valued at $26,562.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nathan E. Weaks acquired 2,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $19.88 per share, with a total value of $39,760.00. Following the purchase, the director directly owned 8,283 shares of the company's stock, valued at $164,666.04. The trade was a 31.83% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,742 shares of company stock worth $307,978 over the last three months. 2.60% of the stock is owned by corporate insiders.

Civista Bancshares Stock Down 0.5%

Shares of CIVB traded down $0.10 on Monday, reaching $20.69. The stock had a trading volume of 119,439 shares, compared to its average volume of 106,493. The firm has a market capitalization of $399.52 million, a price-to-earnings ratio of 8.18 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 company has a 50-day simple moving average of $20.56 and a 200-day simple moving average of $21.20. Civista Bancshares, Inc. has a 12-month low of $16.89 and a 12-month high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 9.77%. Sell-side analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 3.3%. Civista Bancshares's payout ratio is presently 26.88%.

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.