Penn Capital Management Company LLC Acquires Shares of 13,071 Civista Bancshares, Inc. $CIVB

Key Points

• Penn Capital Management Company LLC has invested approximately $255,000 in Civista Bancshares, acquiring 13,071 shares, which is about 0.08% of the company.
• Civista Bancshares has recently been the target of various hedge fund activities, with several institutions increasing their stakes during the first quarter of the year, including a 28.3% increase by Hotchkis & Wiley Capital Management LLC.
• The company announced a quarterly dividend of $0.17 per share, which translates to a 3.3% yield and reflects a dividend payout ratio of 26.88%.

Penn Capital Management Company LLC purchased a new stake in shares of Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,071 shares of the bank's stock, valued at approximately $255,000. Penn Capital Management Company LLC owned 0.08% of Civista Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. CWM LLC boosted its stake in Civista Bancshares by 43.7% during the first quarter. CWM LLC now owns 3,084 shares of the bank's stock valued at $60,000 after buying an additional 938 shares in the last quarter. GAMMA Investing LLC grew its stake in Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock valued at $80,000 after acquiring an additional 4,003 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Civista Bancshares by 103.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,120 shares of the bank's stock valued at $108,000 after buying an additional 2,609 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Civista Bancshares by 77.0% during the 4th quarter. Deutsche Bank AG now owns 7,691 shares of the bank's stock valued at $162,000 after buying an additional 3,347 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Civista Bancshares by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,999 shares of the bank's stock valued at $189,000 after buying an additional 1,960 shares during the last quarter. 52.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Civista Bancshares news, Director Clyde A. Perfect, Jr. purchased 2,352 shares of the stock in a transaction on Friday, July 11th. The stock was bought at an average cost of $21.25 per share, for a total transaction of $49,980.00. Following the completion of the acquisition, the director directly owned 2,352 shares of the company's stock, valued at $49,980. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard J. Dutton purchased 4,000 shares of the stock in a transaction on Friday, July 11th. The stock was acquired at an average price of $21.25 per share, with a total value of $85,000.00. Following the completion of the acquisition, the senior vice president directly owned 4,000 shares of the company's stock, valued at approximately $85,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 14,742 shares of company stock worth $307,978. Company insiders own 2.60% of the company's stock.

Civista Bancshares Price Performance

Civista Bancshares stock traded up $0.13 on Friday, reaching $21.00. The company's stock had a trading volume of 10,423 shares, compared to its average volume of 59,755. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $405.51 million, a price-to-earnings ratio of 8.30 and a beta of 0.73. The business's fifty day moving average price is $21.43 and its 200 day moving average price is $21.17. Civista Bancshares, Inc. has a twelve month low of $16.24 and a twelve month high of $25.59.

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

Civista Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, August 5th. Civista Bancshares's dividend payout ratio is currently 26.88%.

Analysts Set New Price Targets

Several research analysts have commented on CIVB shares. Hovde Group downgraded Civista Bancshares from an "outperform" rating to a "market perform" rating and set a $22.00 price target on the stock. in a research report on Monday, August 18th. Stephens decreased their price objective on Civista Bancshares from $27.00 to $24.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 29th. Wall Street Zen lowered Civista Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, DA Davidson set a $26.00 price objective on Civista Bancshares and gave the stock a "buy" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average 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.