Insider Buying: Civista Bancshares, Inc. (NASDAQ:CIVB) Director Purchases 1,250 Shares of Stock

Civista Bancshares, Inc. (NASDAQ:CIVB - Get Free Report) Director Darci L. Congrove bought 1,250 shares of the stock in a transaction on Friday, July 11th. The stock was purchased at an average cost of $21.25 per share, for a total transaction of $26,562.50. Following the acquisition, the director directly owned 1,250 shares of the company's stock, valued at $26,562.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Civista Bancshares Trading Down 0.8%

NASDAQ CIVB traded down $0.18 during trading hours on Tuesday, hitting $21.56. 67,084 shares of the company's stock were exchanged, compared to its average volume of 52,582. The business's 50 day moving average is $22.89 and its 200-day moving average is $21.28. Civista Bancshares, Inc. has a 12-month low of $14.90 and a 12-month high of $25.59. The firm has a market capitalization of $334.64 million, a P/E ratio of 9.52 and a beta of 0.69. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.97 and a current ratio of 0.97.

Civista Bancshares (NASDAQ:CIVB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.66 EPS for the quarter, beating the consensus estimate of $0.50 by $0.16. The business had revenue of $40.63 million for the quarter, compared to the consensus estimate of $40.33 million. Civista Bancshares had a return on equity of 9.13% and a net margin of 14.35%. As a group, analysts anticipate that Civista Bancshares, Inc. will post 2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CIVB. Keefe, Bruyette & Woods increased their price objective on Civista Bancshares from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Piper Sandler increased 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. Wall Street Zen lowered Civista Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. DA Davidson set a $26.00 price objective on Civista Bancshares and gave the company a "buy" rating in a research note on Monday. Finally, Stephens increased their price objective on Civista Bancshares from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.00.

Institutional Investors Weigh In On Civista Bancshares

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in Civista Bancshares by 210.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,815 shares of the bank's stock valued at $3,152,000 after purchasing an additional 101,610 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Civista Bancshares in the 4th quarter worth approximately $1,774,000. Nuveen LLC acquired a new position in shares of Civista Bancshares in the 1st quarter worth approximately $1,594,000. American Century Companies Inc. grew its position in shares of Civista Bancshares by 55.0% in the 4th quarter. American Century Companies Inc. now owns 191,316 shares of the bank's stock worth $4,025,000 after acquiring an additional 67,889 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Civista Bancshares by 166.8% in the 4th quarter. Nuveen Asset Management LLC now owns 92,687 shares of the bank's stock worth $1,950,000 after acquiring an additional 57,950 shares in the last quarter. 52.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

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