Janney Montgomery Scott LLC Purchases Shares of 17,869 Civista Bancshares, Inc. $CIVB

Key Points

• Janney Montgomery Scott LLC purchased 17,869 shares of Civista Bancshares, Inc. valued at approximately $415,000, signaling growing interest from institutional investors, who now own 52.10% of the company.
• Civista Bancshares reported a quarterly earnings per share (EPS) of $0.66, falling short of the consensus estimate of $0.69, while revenue also missed expectations at $41.40 million.
• The company declared a quarterly dividend of $0.17, reflecting an annualized dividend yield of 3.4%, with a current dividend payout ratio of 26.88%.

Janney Montgomery Scott LLC purchased a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,869 shares of the bank's stock, valued at approximately $415,000. Janney Montgomery Scott LLC owned 0.12% of Civista Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. boosted its stake in shares of Civista Bancshares by 13.8% in the first quarter. American Century Companies Inc. now owns 217,777 shares of the bank's stock worth $4,255,000 after acquiring an additional 26,461 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Civista Bancshares by 28.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 148,560 shares of the bank's stock worth $2,903,000 after acquiring an additional 32,760 shares during the period. Nuveen LLC bought a new position in shares of Civista Bancshares in the first quarter worth about $1,594,000. Hsbc Holdings PLC boosted its stake in shares of Civista Bancshares by 9.5% in the first quarter. Hsbc Holdings PLC now owns 21,181 shares of the bank's stock worth $413,000 after acquiring an additional 1,831 shares during the period. Finally, Penn Capital Management Company LLC bought a new position in shares of Civista Bancshares in the first quarter worth about $255,000. Institutional investors own 52.10% of the company's stock.

Civista Bancshares Price Performance

NASDAQ:CIVB opened at $19.97 on Friday. The firm has a market capitalization of $385.68 million, a price-to-earnings ratio of 7.89 and a beta of 0.73. Civista Bancshares, Inc. has a 1 year low of $17.47 and a 1 year high of $25.59. The business has a 50 day simple moving average of $20.63 and a 200-day simple moving average of $21.32. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.99 and a quick ratio of 0.99.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $41.40 million during the quarter, compared to the consensus estimate of $43.07 million. Civista Bancshares had a net margin of 15.83% and a return on equity of 9.77%. Equities analysts forecast that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Tuesday, August 5th. Civista Bancshares's dividend payout ratio is presently 26.88%.

Insider Buying and Selling at Civista Bancshares

In other Civista Bancshares news, Director Nathan E. Weaks purchased 2,000 shares of Civista Bancshares stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $19.88 per share, for a total transaction of $39,760.00. Following the completion of the acquisition, the director owned 8,283 shares in the company, valued at $164,666.04. This represents a 31.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 3,500 shares of company stock valued at $69,085 in the last quarter. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CIVB. DA Davidson set a $26.00 target price on Civista Bancshares and gave the stock a "buy" rating in a research report on Monday, July 14th. Zacks Research raised Civista Bancshares from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Civista Bancshares in a research note on Wednesday, October 8th. Hovde Group downgraded Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price objective on the stock. in a research note on Monday, August 18th. Finally, Stephens reduced their price objective on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.80.

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.

Want to see what other hedge funds are holding CIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.