Nuveen LLC Purchases New Position in Civista Bancshares, Inc. $CIVB

Key Points

• Nuveen LLC acquired a new position in Civista Bancshares by purchasing 81,591 shares valued at approximately $1.6 million, representing 0.53% of the company.
• Multiple institutional investors, including PNC Financial Services and Segall Bryant & Hamill, have significantly increased their stakes in Civista Bancshares during the first quarter.
• Civista Bancshares recently declared a quarterly dividend of $0.17 per share, providing an annualized dividend yield of 3.2%.

Nuveen LLC purchased a new position in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 81,591 shares of the bank's stock, valued at approximately $1,594,000. Nuveen LLC owned about 0.53% of Civista Bancshares at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its holdings in Civista Bancshares by 166.8% in the fourth quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock worth $1,950,000 after purchasing an additional 57,950 shares in the last quarter. Man Group plc bought a new stake in shares of Civista Bancshares in the fourth quarter valued at about $282,000. Lazard Asset Management LLC bought a new position in Civista Bancshares during the fourth quarter worth about $263,000. Ameriprise Financial Inc. lifted its stake in Civista Bancshares by 23.3% during the fourth quarter. Ameriprise Financial Inc. now owns 36,861 shares of the bank's stock worth $776,000 after purchasing an additional 6,968 shares during the period. Finally, Bank of America Corp DE lifted its stake in Civista Bancshares by 10.2% during the fourth quarter. Bank of America Corp DE now owns 34,206 shares of the bank's stock worth $720,000 after purchasing an additional 3,173 shares during the period. 52.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Nathan E. Weaks acquired 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $19.88 per share, for a total transaction of $39,760.00. Following the purchase, the director directly owned 8,283 shares of the company's stock, valued at approximately $164,666.04. This trade represents a 31.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard J. Dutton acquired 4,000 shares of the stock in a transaction dated Friday, July 11th. The shares were purchased at an average price of $21.25 per share, for a total transaction of $85,000.00. Following the completion of the purchase, the senior vice president directly owned 4,000 shares in the company, valued at $85,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 14,742 shares of company stock valued at $307,978 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Civista Bancshares Stock Up 1.5%

CIVB stock traded up $0.31 during midday trading on Thursday, hitting $21.06. The company's stock had a trading volume of 2,020 shares, compared to its average volume of 60,438. 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, Inc. has a twelve month low of $16.24 and a twelve month high of $25.59. The company's fifty day moving average price is $21.33 and its 200 day moving average price is $21.15. The stock has a market capitalization of $406.67 million, a P/E ratio of 8.32 and a beta of 0.76.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last issued its quarterly earnings results 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). Civista Bancshares had a net margin of 15.83% and a return on equity of 9.77%. The business had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.07 million. As a group, equities research analysts predict that Civista Bancshares, Inc. will post 2.28 EPS for the current year.

Civista Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders 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 annualized dividend and a dividend yield of 3.2%. Civista Bancshares's payout ratio is currently 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.