Jacobs Levy Equity Management Inc. Purchases New Shares in Civista Bancshares, Inc. (NASDAQ:CIVB)

Jacobs Levy Equity Management Inc. purchased a new stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 30,942 shares of the bank's stock, valued at approximately $651,000. Jacobs Levy Equity Management Inc. owned 0.20% of Civista Bancshares as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Civista Bancshares by 90.1% in the third quarter. JPMorgan Chase & Co. now owns 25,438 shares of the bank's stock valued at $453,000 after purchasing an additional 12,059 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Civista Bancshares by 15.6% in the fourth quarter. SG Americas Securities LLC now owns 6,624 shares of the bank's stock valued at $139,000 after purchasing an additional 892 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Civista Bancshares by 1.1% in the fourth quarter. Inspire Investing LLC now owns 52,528 shares of the bank's stock valued at $1,105,000 after purchasing an additional 554 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Civista Bancshares by 5.0% in the fourth quarter. Empowered Funds LLC now owns 52,617 shares of the bank's stock valued at $1,107,000 after purchasing an additional 2,482 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Civista Bancshares by 45.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,161 shares of the bank's stock valued at $950,000 after purchasing an additional 14,066 shares in the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of the stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the acquisition, the chairman now owns 19,162 shares in the company, valued at approximately $429,995.28. This represents a 47.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Civista Bancshares Stock Down 1.3%

NASDAQ CIVB traded down $0.28 on Friday, hitting $22.05. 35,319 shares of the stock were exchanged, compared to its average volume of 48,184. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $24.00. The company has a market cap of $342.19 million, a PE ratio of 10.92 and a beta of 0.69. The company has a 50-day moving average price of $20.90 and a 200-day moving average price of $21.17.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, topping the consensus estimate of $0.50 by $0.16. Civista Bancshares had a net margin of 12.96% and a return on equity of 8.35%. The company had revenue of $40.63 million during the quarter, compared to analysts' expectations of $40.33 million. Sell-side analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Civista Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, April 29th. Civista Bancshares's payout ratio is 29.96%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CIVB shares. DA Davidson set a $27.00 price objective on shares of Civista Bancshares in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price objective on shares of Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Piper Sandler boosted their price target on shares of 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 upgraded shares of Civista Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, February 22nd. Finally, Stephens boosted their price target on shares of Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.20.

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.