Millennium Management LLC Buys New Stake in Civista Bancshares, Inc. (NASDAQ:CIVB)

Millennium Management LLC acquired a new position in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 50,312 shares of the bank's stock, valued at approximately $1,059,000. Millennium Management LLC owned approximately 0.32% of Civista Bancshares at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CIVB. SG Americas Securities LLC raised its stake in shares of Civista Bancshares by 15.6% during the 4th quarter. SG Americas Securities LLC now owns 6,624 shares of the bank's stock worth $139,000 after purchasing an additional 892 shares in the last quarter. Deutsche Bank AG raised its position in Civista Bancshares by 77.0% during the fourth quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock valued at $162,000 after acquiring an additional 3,347 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Civista Bancshares by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock valued at $189,000 after acquiring an additional 1,960 shares during the last quarter. First Trust Advisors LP acquired a new stake in Civista Bancshares in the fourth quarter valued at approximately $202,000. Finally, D. E. Shaw & Co. Inc. grew its position 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 worth $248,000 after acquiring an additional 1,337 shares in the last quarter. Institutional investors and hedge funds own 52.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CIVB shares. Wall Street Zen lowered shares of Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stephens boosted their price target on Civista Bancshares from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. 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 research note on Friday, April 25th. Finally, Piper Sandler raised their price objective on Civista Bancshares from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Civista Bancshares has an average rating of "Hold" and an average price target of $25.20.

Insider Transactions at Civista Bancshares

In other news, Chairman Dennis E. Murray, Jr. acquired 6,143 shares of Civista Bancshares stock in a transaction on Tuesday, April 29th. The stock was bought at an average price of $22.44 per share, for a total transaction of $137,848.92. Following the transaction, the chairman now owns 19,162 shares of the company's stock, valued at $429,995.28. The trade was a 47.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

Civista Bancshares Stock Performance

Civista Bancshares stock traded down $0.35 on Monday, reaching $21.99. 36,423 shares of the stock were exchanged, compared to its average volume of 48,571. The stock has a market cap of $341.26 million, a PE ratio of 10.89 and a beta of 0.69. The firm has a fifty day moving average price of $21.43 and a two-hundred day moving average price of $21.14. Civista Bancshares, Inc. has a twelve month low of $13.60 and a twelve month high of $24.00. 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 (NASDAQ:CIVB - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.66 earnings per share 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 analysts' expectations of $40.33 million. Civista Bancshares had a return on equity of 8.35% and a net margin of 12.96%. Sell-side analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, April 29th were given a $0.17 dividend. The ex-dividend date was Tuesday, April 29th. This represents a $0.68 annualized dividend and a dividend yield of 3.09%. Civista Bancshares's dividend payout ratio is 29.96%.

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.