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

Jacobs Levy Equity Management Inc. bought a new stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,942 shares of the bank's stock, valued at approximately $651,000. Jacobs Levy Equity Management Inc. owned approximately 0.20% of Civista Bancshares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted 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 acquiring an additional 892 shares in the last quarter. Deutsche Bank AG grew its holdings in Civista Bancshares by 77.0% during the fourth quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock worth $162,000 after acquiring an additional 3,347 shares during the period. Wells Fargo & Company MN raised its position in Civista Bancshares by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock worth $189,000 after acquiring an additional 1,960 shares in the last quarter. First Trust Advisors LP acquired a new stake in Civista Bancshares in the fourth quarter valued at $202,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Civista Bancshares by 12.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 11,773 shares of the bank's stock valued at $248,000 after acquiring an additional 1,337 shares during the period. Hedge funds and other institutional investors own 52.10% of the company's stock.

Insider Transactions at Civista Bancshares

In other news, Chairman Dennis E. Murray, Jr. bought 6,143 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was purchased at an average price of $22.44 per share, with a total value of $137,848.92. Following the purchase, the chairman now owns 19,162 shares of the company's stock, valued at $429,995.28. This trade represents a 47.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

CIVB has been the topic of a number of recent analyst reports. DA Davidson set a $27.00 price target on shares of Civista Bancshares in a research note on Friday, January 31st. Stephens upped their target price on shares of Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. StockNews.com upgraded shares of Civista Bancshares from a "hold" rating to a "buy" rating in a research report on Saturday, February 22nd. Piper Sandler boosted their price target on Civista Bancshares from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods upped their price target on Civista Bancshares from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.20.

Civista Bancshares Price Performance

Shares of NASDAQ:CIVB traded down $0.84 during midday trading on Wednesday, hitting $22.66. 37,439 shares of the stock were exchanged, compared to its average volume of 48,123. The stock has a market cap of $351.66 million, a P/E ratio of 11.22 and a beta of 0.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $24.00. The company has a 50 day moving average price of $20.73 and a 200-day moving average price of $21.14.

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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.16. The business 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 8.35% and a net margin of 12.96%. On average, research analysts forecast that Civista Bancshares, Inc. will post 2.28 earnings per share for the current year.

Civista Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, April 29th. Civista Bancshares's dividend payout ratio (DPR) is presently 29.96%.

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.