26,000 Shares in Civista Bancshares, Inc. $CIVB Purchased by Strs Ohio

Key Points

• Strs Ohio has invested $508,000 in Civista Bancshares, acquiring 26,000 shares and holding 0.17% of the company as of the latest SEC filing.
• Several institutional investors, including Acadian Asset Management and Empowered Funds, have increased their holdings in Civista Bancshares, with the total institutional ownership at 52.10%.
• The company's most recent earnings report showed a quarterly EPS of $0.66, missing the consensus estimate, while also announcing a quarterly dividend of $0.17 per share.

Strs Ohio acquired a new stake in Civista Bancshares, Inc. (NASDAQ:CIVB - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 26,000 shares of the bank's stock, valued at approximately $508,000. Strs Ohio owned 0.17% of Civista Bancshares as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. CWM LLC raised its holdings in Civista Bancshares by 43.7% in the 1st quarter. CWM LLC now owns 3,084 shares of the bank's stock valued at $60,000 after acquiring an additional 938 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Civista Bancshares by 4,003.0% during the 1st quarter. GAMMA Investing LLC now owns 4,103 shares of the bank's stock worth $80,000 after buying an additional 4,003 shares during the period. Public Employees Retirement System of Ohio grew its position 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 worth $108,000 after buying an additional 2,609 shares during the period. Deutsche Bank AG boosted its holdings in shares of Civista Bancshares by 77.0% in the fourth 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 period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of 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 buying an additional 1,337 shares during the period. Institutional investors and hedge funds own 52.10% of the company's stock.

Insiders Place Their Bets

In other news, SVP Richard J. Dutton purchased 4,000 shares of the business's 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 owned 4,000 shares in the company, valued at approximately $85,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clyde A. Perfect, Jr. purchased 2,352 shares of the company's stock in a transaction dated Friday, July 11th. The shares were acquired at an average price of $21.25 per share, for a total transaction of $49,980.00. Following the purchase, the director directly owned 2,352 shares of the company's stock, valued at approximately $49,980. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 14,742 shares of company stock worth $307,978. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Civista Bancshares Stock Down 0.5%

Shares of CIVB stock traded down $0.10 during mid-day trading on Monday, reaching $20.69. 119,439 shares of the company's stock traded hands, compared to its average volume of 106,493. The company's 50-day moving average price is $20.56 and its 200-day moving average price is $21.20. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.35. The company has a market cap of $399.52 million, a P/E ratio of 8.18 and a beta of 0.76. Civista Bancshares, Inc. has a 12 month low of $16.89 and a 12 month high of $25.59.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last posted 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). The company had revenue of $41.40 million during the quarter, compared to analysts' expectations of $43.07 million. Civista Bancshares had a return on equity of 9.77% and a net margin of 15.83%. On average, 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 declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 5th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, August 5th. Civista Bancshares's dividend payout ratio is presently 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.